Topic: The use of strategic tools, such as SWOTs, in the Strategic Development process.
Applying a SWOT with interpersonal group psychology considerations.
Some research has shown that psychologically individuals and groups tend to be biased towards assessing success as more likely than assessing failure as more likely. That is, we tend to be more optimistic about good things happening, such as tight schedules being met, than we are about bad things happening, such as the possibility of schedules not being met. Indeed, groups can become mutually reinforcing in opting to see only the possibilities.
So you might think, therefore, that looking externally to the company is relatively easier than looking internally, and that looking for good things, e.g. "O" or opportunities, is easier than looking at the deficiencies, e.g. "W" or weaknesses.
That said, in doing a SWOT analysis, how do you think this psychological tendency can be countered in doing the "W" part - i.e. honestly assessing what parts of the Value Chain are not working as well as they could in either absolute terms or competitively relative terms.
Given that example, what are some of the advantages and limitations of the SWOT tool? How can it be effectively deployed? How should leaders position and use the tool to overcome the tendencies noted above. Would you recommend the use of the extra "T"? Can you offer an example of a completed SWOT that you thought was particularly effective? At least 3 pages total.