In the current situation of economic crisis, unemployment is raging like fire. It is the main issue haunting many individuals as they have either faced a layoff or on the verge of being handed over the pink slip. It is in this scenario that an individual gets stressed up and seems to have fallen into a tavern and not know how to escape.
The first and foremost thing that an individual should understand is that he should not panic. It is not the case of anyone individual losing their livelihood but of thousands and millions around the world. At the same time one must understand that even during this period of recession still many of them are employed and thriving in their businesses.
So what is the reason that one is employed and another is unemployed? The difference is employability skills. Those who are still employed have a higher degree of employability than those who are not. And how does an individual find out what he lacks in his own set of employability skills. It is at this juncture, the SWOT analysis comes to play.
SWOT analysis stands for analysis of an individual’s strength, weakness, opportunity and threats. A person needs to do his own SWOT analysis and focus it to get better results with more self improvement you can try this out with an ultimate goal to get out of the recession.
The first step in SWOT analysis is strength. An individual should write down in a sheet of paper what are his strengths. Rather what are his skills both technical as well as non-technical that would make him more employable? He needs to then analyze how many of them he is currently using and must devise a strategy for those skills that he is not using currently, however must put into use as soon as possible.
The next step in SWOT analysis is the weakness. After carefully writing down all his weaknesses, an individual must put in efforts to find out how he can minimize his weaknesses and make all those into his strength areas.
Next, he should think about his opportunities during his SWOT analysis and find out what are the current openings or opportunities for him to improve, to get better position and be safeguarded against recession.
Finally, SWOT analysis will reveal the individual’s threats and an individual who really has an instinct to improve and get out of recession will find them and be cautious enough to avoid them or should plan accordingly to tackle them and get out of harm’s way.
Thus, SWOT analysis is a method which every individual must implement for self-improvement and to get out of recession.