SWOT Analysis
My reflections on this venture proposal are summarized in the following SWOT Analysis
STRENGTHS
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WEAKNESSES
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- Demonstrates conceptually the ability to automate access and updates to digital learning assets
- Modular and scaleable
- Demonstrates innovation by leveraging the success of the Internet folksonomy concept to apply to an existing business problem of metadata management
- Exposes metadata to the right people at the right time
- Low cost solution to creating and maintaining personalized training content
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- Needs to consider potential challenges arising from the need to change corporate culture e.g. new business process for metadata management
- Complex solution with multiple components may be a barrier to entry for some clients
- Source applications vary widely across corporations which may translate to a long time to market for a packaged software solution
- Only one generic approach is defined but may need modifications to fit diverse organization structures and budgets
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OPPORTUNITIES
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THREATS
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- New services can be provided to leverage existing corporate technology investments
- Existing products can be integrated for product based assessments to provide efficient performance reviews
- Modular approach to design will result in lower start-up costs
- Focus on management and supervisory level programs first. According to Bersin & Assoc. (2008), 21% of training dollars go to leadership training
- Potential to partner with personalized training vendors who specialize in instructional design or e-learning strategy
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- Companies may prefer status quo and slower moving solutions
- Companies may go completely to Wikis for content development and management or some other approach for managing business metadata
- Solution crosses disciplines so it may be challenging to find a single sponsor for the venture
- Solution involves middleware which may be difficult to sell unless it is packaged with a specific training project to provide a prototype to visualize business value
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