Posted: February 24th, 2022

Foundations of benchmarking. In Benchmarking in the public and nonprofit sectors

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The most common strategic analysis forms are:
SWOT (Strengths, Weaknesses, Opportunities, Threats)
PEST (Political, Economic, Social, Technical)
SOAR (Strengths, Opportunities, Aspirations, Results) While each tool has a different focus, they all have certain pros and cons that you should be aware of before implementing them. In this week’s forum, comment on the following:
In your opinion, what assumptions do these tools rely on?
What other processes or tools could you use in conjunction with SWOT, PEST or SOAR to enhance their usefulness? Why would using them alongside other tools enhance their usefulness? A variant to the SWOT is TOWS. Using the same grid for Strengths, Weaknesses, Opportunities and Threats, TOWS analysis helps you to think about the analysis gained in the SWOT and build options for applying this information by taking an external view and linking each of the segments to consider scenarios for example, for using your strengths to minimize threats. Have a look at this TOWS resource on MindTools and think about how you might use this to further your thinking. Would this bring out new insights for your planning?
Duff, V. (2017). What is Strategic Benchmarking. retrieved January 2, 2017 from http://smallbusiness.chron.com/strategic-benchmarking-10076.html
Keehley, P., & Abercrombie, N. N., (2008). Chapter 1: Foundations of benchmarking. In Benchmarking in the public and nonprofit sectors (2nd ed., pp. 11-25). San Francisco, CA: Jossey-Bass. Retrieved from the Ebook Central e-book database*.
Voelker, K. E., Rakich, J. S., & French, G. R. (2001). The balanced scorecard in healthcare organizations: a performance measurement and strategic planning methodology. Hospital topics, 79(3), 13-24

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