Featured Planning TipKnow your strengths and weaknesses
Whether the situation is organizational or personal planning, conduct an analysis of capabilities and focus on strengths and weaknesses. Understand and identify strengths that help perform a task and reach objectives. When you consider weaknesses, evaluate ways to overcome or minimize them.
A strength is a resource, skill or other characteristic one is superior at relative to many competitors that helps meet the needs of the markets a firm serves or expects to serve. Strengths are internal characteristics of an organization that make it especially adapted to carrying out its tasks, or characteristics of the organization that competitors do not have, which may create a competitive advantage.
A weakness is a limitation or deficiency in resources, skills, or capabilities that seriously impedes a firmís effective performance. Weaknesses are internal characteristics of an organization that inhibit its ability to carry out tasks, or characteristics that the organization does not have that competitors do, which may create a competitive disadvantage.