Georgina Guthrie in Project Management. What is a Situation Analysis? How to run a Situation Analysis in 5 steps 1. Analyze your customers Your customers or clients should be your focal point, so start by defining who this group is and what their needs and challenges are. Created in Cacoo using the Customer Journey Map template 2.
Suss out the competition Run a competitor analysis to see what others in the marketplace are doing, including their strengths and weaknesses. Competitors Work out who your closest competition is, as well as their strengths and weaknesses. Company Analyze everything to do with your business, including your branding, market share, company culture, strengths, weaknesses a SWOT chart will come in handy here , products, and services.
Note how this compares to your biggest competitors. Collaborators Assess your current suppliers or distributors, influencers, marketers — in short, any external ties you have. You can also include technology and tools here. Climate Take a closer look at the market, including competitors, growth, recession, trends and opportunities, tech, and culture.
Created in Cacoo using the Marketing Mix template Political Take note of current trading regulations and government policies — as well as how upcoming elections could influence these things. Take a moment to examine what you are selling. However, it is also important to get the opinions of others, from employees to customers. Here you can also examine the product in relation to the audience. What needs is the product or service designed to meet?
Is it meeting those needs? What does a potential customer look like? Where are they spending their time? After an analysis of your products, you must understand its place in the current market. Make a list of your competitors and summaries of their products. Taking a careful look at how they approach their marketing, where they place their messages and who they target in their strategy can give you an idea of the current landscape. While it may be difficult to stay objective in this analysis, reading customer reviews or consulting industry experts can assist in this process.
An analysis of your main competitors will help you determine how your business measures up. Identifying and comparing the competitive advantages of one company to another can help your business adapt to compete more effectively. The SBA provides a list of business statistics you can use in your review. Partnerships and collaborations are a critical part of many business operations.
Analyze collaborations to understand the strength and durability of the partnerships. Reviewing contracts and studying whether products and services were historically delivered as promised can give a company insight on the reliability of these relationships.
A situational analysis should examine the external and internal environment that impact a business's performance. External factors include the economy, competitors, government policies, and regulations. Company culture, employees, business resources, and cash management are internal factors that affect a business. A PESTLE analysis examines the external situation of a company by looking at political, economic, social, technological, legal, and environmental factors.
Examining each category can provide insights into the overall business market. A situational analysis should include the internal and external factors that affect a business, and a 5C approach may be the simplest. The 5Cs are company, customers, competitors, collaborators, and climate. The customers provide key information on current customers, the target market, and the opportunities a company should pursue through a marketing plan.
Collaborators are the partnerships that make products and distribution possible. There is a need to integrate cultural sensitive and appropriateness in the methods to avoid jeopardizing particularly context. It is important to develop a clear data collection plan which include clear roles and responsibilities for those who will involve. It is important to develop a clear data analyzing and report writing process including identifying those who are responsible for coordinating the entire process and those who are engaged in some part of the process.
Normally, there are a lot of considerable findings in the report, but please remember that not all information and findings are always important to the project. In light of that, there is a need to discuss among the team and agree the most critical ones to be include in the planning. Many organizations and companies use this tool in order to examine their internal factors or situation which also interconnects with external factors or environment.
It can be used as self-facilitated or external-facilitated reflection. Internal factor analysis is an absolutely exercise within situation analysis.
Without internal factor analysis, situation analysis is not considered comprehensive. The most popular tool for this examination is SWOT. SWOT is an important toot to use to asses and analyze internal capacity both strengths and weaknesses within a project.
It helps the project team in:. It is important to do SWOT analysis at the beginning of a project design. But it should happen external analysis. When the project team start developing a project plan, they need to include how to continue applying their strengths and identify strategy to strengthen their weaknesses. The team can also integrate the opportunities in different levels, incorporate in objectives and activities.
At the same time, they also need to develop a possible strategy to mitigate the identified threats.
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