Inspiration and motivation serve as the energy that keeps your employees motivated, engaged and delivering. Without it, their ambition, innovation and creativity may simply dry up. Every business and individual needs a balance between rigorous efficiency and positivity. This is when using a tool like the SOAR Analysis comes in handy.
A SOAR Analysis is used to identify an organization as a whole and build on current success. Unlike a SWOT Analysis, where the aim is to concentrate on perceived threats and/or weaknesses, the SOAR analysis is an energizing strategic planning tool.
SOAR stands for strengths, opportunities, aspirations, and results. To perform a SOAR analysis, there are 4 basic questions you will answer:
1. What are your greatest strengths?
Here, you will list what makes you proud of your organization and your work.
Ask yourself, what makes your business unique? What are your greatest achievements this year? How did you use your strengths to get those results?
2. What are your best opportunities?
List the opportunities your business has encountered, then identify the top 3 opportunities you will focus on moving forward. What are your stakeholders and customers asking for? What markets are in need of your product/service? How do you differentiate yourself from competitors?
3. What are your aspirations and preferred future?
At your core, what do you truly care deeply about? What are your values as an organization? Who do you want to become and where do you want to go? Identify your most compelling aspiration you have, then find the strategic initiative that will support that aspiration.
4. What are the measurable results we've achieved?
Considering your Strengths, Opportunities and Aspirations, how will you know you are achieving our goals? Identify 3-5 indicators that will measure your success are.
Are there additional resources needed to implement your initiatives?
As cheesy as it sounds, an effective business strategy always consists of a good attitude and positive mindset. Without it, you and your employees will quickly lose hope and a vision.
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