Using business models for personal development in the Diploma Programme
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Using business models for personal development in the Diploma Programme

In DP1 we are learning about business tools and frameworks. The cool thing about this is that the application of these tools is not restricted solely to the world of big business. These frameworks can also be applied to your personal development and career planning, or to better understand the world you live in.

-by Bart Hordijk, Business Administration

One of the bread-and-butter frameworks we feed our students is the SWOT analysis. This stands for Strengths, Weaknesses, Opportunities, and Threats. The Strengths and Weaknesses look at factors that are current and internal. The Opportunities and Threats look at the external and future environment of the organisation. Companies employ such frameworks to aid them in making strategic decisions, like which markets to focus on and which investments will need to be prioritised to stay alive and be profitable. The benefit of using the questions that come with these business frameworks is that it helps decision-makers to create clarity and make them have no (or at least fewer) blind spots in their decision-making. In other words, it helps them to approach an existing business question from multiple angles ensuring that no stone is left unturned.

CEO of your own life

You can also apply this framework to your situation and become the CEO of your own life! Below is an example of how a personal SWOT analysis might look like and what can be example questions to ask yourself.

Strengths

What skills do I already posses that I can combine into a unique combination?

What values do I believe in that others fail to exhibit?

Opportunities

What is something that I know to be true, but the rest of the world hasn’t figured out yet?

Which technology is emerging that I can build a career around?

Weaknesses

What tasks do I usually avoid or struggle with?

If you ask people in my direct environment, what will they mention as my biggest challenges?

Threats

How is the world changing in a way that makes some of my skills redundant?

Are there things I struggle with that can lead to (bigger) problems in the future?

Answering these questions may have you discover that you possess a unique combination of knowing many languages and being able to sing well. Combined with a new technology like TikTok, you may realise you can make a fortune on this platform by singing popular songs in different languages. A threat might be that you can become so successful you won’t have time to do your schoolwork which will put you at odds with your parents. To help you with this, we will discuss Stakeholder Management in our next Business edition of the News Bulletin.