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SWOT for Tax by Kelley Lear
SWOT for TAX   Embark on a Mission. Kelley Lear Managing Director
Plan Your Department’s Attack. Strengths, Weaknesses, Opportunities and Threats  in Your Tax Lifecycle
What’s Ahead? SWOT Overview Discussion On ,[object Object]
	Weaknesses
	Opportunities
	ThreatsAfter your SWOT
What is SWOT? SWOT is an extremely useful tool for understanding, as well as decision-making for any number of business situations.  SWOT is an acronym for Strength, Weaknesses, Opportunities, Threats.
 What is SWOT? ,[object Object]
It opens team member thought processes and encourages brainstorming without fear.
SWOT brings good ideas to the table and lifts areas for change, as well as opportunities to excel.,[object Object]
Four Key Elements: SWOT INTERNAL FACTORS What you as a tax professional can control Strengths – What does your team do well? List the strengths of your lifecycle (or slice of the process) and staff. What distinct advantages does your methodology or process offer? Weaknesses – Where can your team improve?  List the weaknesses of your process and staff. What are the challenges/risks that you may have as a result?  Are there manual tasks and room for error?
Strengths ,[object Object],	it apart from other processes. ,[object Object]
Assess the specialized skills within your staff.SWOT: Strengths
Weaknesses ,[object Object],	the data quality or acquire the expertise that creates value?   ,[object Object],	data integrity or knowledge point of view.   	These may be the reasons why you have a process that has not had much review or analysis. ,[object Object],	missing or incorrect data, lacking skills, tax  	and technology resources. SWOT: Weaknesses
Four Key Elements: SWOT EXTERNAL FACTORS Currently outside your realm or what you control Opportunities – What can your team do better? What opportunities exist in the environment or other departments in the organization which will propel your team onward and upward?  Identify them by their “time frames”. Threats – What obstacles do we face? Classify them by their seriousness or risks and probability of occurrence.
Opportunities ,[object Object],SWOT: Opportunities ,[object Object]

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SWOT for tax .Plan your attack!

  • 1. SWOT for Tax by Kelley Lear
  • 2. SWOT for TAX Embark on a Mission. Kelley Lear Managing Director
  • 3. Plan Your Department’s Attack. Strengths, Weaknesses, Opportunities and Threats in Your Tax Lifecycle
  • 4.
  • 8. What is SWOT? SWOT is an extremely useful tool for understanding, as well as decision-making for any number of business situations. SWOT is an acronym for Strength, Weaknesses, Opportunities, Threats.
  • 9.
  • 10. It opens team member thought processes and encourages brainstorming without fear.
  • 11.
  • 12. Four Key Elements: SWOT INTERNAL FACTORS What you as a tax professional can control Strengths – What does your team do well? List the strengths of your lifecycle (or slice of the process) and staff. What distinct advantages does your methodology or process offer? Weaknesses – Where can your team improve? List the weaknesses of your process and staff. What are the challenges/risks that you may have as a result? Are there manual tasks and room for error?
  • 13.
  • 14. Assess the specialized skills within your staff.SWOT: Strengths
  • 15.
  • 16. Four Key Elements: SWOT EXTERNAL FACTORS Currently outside your realm or what you control Opportunities – What can your team do better? What opportunities exist in the environment or other departments in the organization which will propel your team onward and upward? Identify them by their “time frames”. Threats – What obstacles do we face? Classify them by their seriousness or risks and probability of occurrence.
  • 17.
  • 18.
  • 19. Make decisions about the process and solutions with respect to FIN 48 and provision.
  • 20. Lift up manual processes associated with apportionment.
  • 21. Identify manual processes and risks associated with fixed asset management data and processes.How can SWOT Help You?
  • 22.
  • 23.
  • 24.
  • 25. Lift up the need for using a tax portal for collaboration and workflow in tax.
  • 26. Identify the need to improve your audit through appeals processes.
  • 27.
  • 28. Set or reaffirm goals.
  • 29.