“Failure to plan, means planning to fail.” The SWOT analysis, if done objectively can provide needed insight on element to improve the business or help the business meet their goals. This week’s lesson reinforces my idea that research and thorough analysis should be useful to any major life decision. Value planning is not only crucial in business, but can be applied to our personal decision. The process of choosing a college is a major life decision. Last year, when my son in the process of trying to select a college there were many choices and options to consider. It was an exciting, yet confusing time. At that time I had no idea of SWOT analysis or other business models for decision making. Yet the same types of strategies were useful for the choosing a college: cost of attendance, academic reputation, crime rate, location, student-to-teacher ratio among other factors was items to consider and review. He came to make for advice and I suggested he write down the pros and cons, which ultimately allow us to make decision that was best for the situation.
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