Nagpur News: The Lady Entrepreneur’s Wing (LEW) of Vidarbha Industries Association, held a programme on Creative Thinking & SWOT Analysis” by prominent and eminent motivational speaker Neelam Bhatia and Ravi Mishra on August 5, 2014 at VIA Hall.
The speaker, Ravi Mishra said, organization should use a systematic/rigorous process known as Corporate Planning which includes:- Set objectives – defining what the organization is going to do, Environmental scanning- Internal appraisals of the organization’s SWOT, this needs to include an assessment of the present situation as well as a portfolio of products/services and an analysis of the product/service life cycle, Analysis of existing strategies, this should determine relevance from the results of an internal/external appraisal. This may include gap analysis which will look at environmental factors, Strategic Issues defined – key factors in the development of a corporate plan which needs to be addressed by the organization, Develop new/revised strategies – revised analysis of strategic issues may mean the objectives need to change, Establish critical success factors – the achievement of objectives and strategy implementation, Preparation of operational, resource, projects plans for strategy implementation & Monitoring results – mapping against plans, taking corrective action which may mean amending objectives/strategies. This will help entrepreneurs’ to develop strategies and plans to enable the organization to achieve its objectives.
The speaker, Neelam Bhatia in his talk said, Creative thinking and ideas are the starting point for achieving your dreams and goals. Similarly, Strengths, Weaknesses, Opportunities & Threats (SWOT) analysis is a useful way of promoting the thinking process and to grow your business. He said, a SWOT analysis can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. Identification of SWOTs is important because they can inform later steps in planning to achieve the objective. First, the decision makers should consider whether the objective is attainable, given the SWOTs. If the objective is not attainable a different objective must be selected and the process repeated. Users of SWOT analysis need to ask and answer questions that generate meaningful information for each category (strengths, weaknesses, opportunities, and threats) to make the analysis useful and find their competitive advantage.
The program was become interesting when Mr. Bhatia involved all the members into group discussion and asked them to create new ideas on the given topic he also analysiesd SWOT technique on one to one.
Summing up his talk Neelam said, Self-awareness knowing your nature, your abilities, and how you react to people and situations may well be the greatest life-management skill you can have. Nurturing those strengths in your business is the key to the success. The potential to live the life of your dreams exists within you. The more you explore your talents, your relationships, and the patterns in your life, the more readily you will be able to tap into those potentials. The Entrepreneurs’ need to be creative & prospective. Brainstorming is very important.
The talk was free and was attended by large number of Women entrepreneurs’, Members of Lew and students. At the outset, Ravi Mishra was welcomed by Past Chairperson, Prafullata Rode, Neelam Bhatia was welcomed by Vandana S. Sharma, Chairperson –LEW. Introduction and opening remarks was given by Reeta Lanjewar, Vice Chairperson-LEW, summing up and vote of thanks was given by Shachi Mallick, Secretary-LEW.
After this programme, Vandana S. Sharma, Chairperson Lew announced about the much awaited “Udyogika Exhibition” which is scheduled to be held from 28th September 2014 to 1st October 2014. The booking of stall for Udyogika Exhibition will start on 26th September 2014 from 1:00 pm. Earlier, if one needs to book a stall in Udyogika, it was done on the basis of “First Come First Served Basis”. But now from this year the booking of stall will be done on the basis of “lottery System” said Vandana S. Sharma, Chairperson- LEW.