SVP Think Tank a Thon - Sierra Nevada Journeys & Studio T Urban Dance Academy!
We were excited to bring together SVP board members/partners, business leaders, and community leaders to support Sierra Nevada Journeys and Studio T Urban Dance Academy through our Think Tank-a-Thon programming. We enjoyed having these two organization participate in this quarter’s Think Tank a Thon as they both are prior SVP Fast Pitch participants. Our venue sponsor and partner was KAI Partners as they provided space at the WorkShop. We were extremely grateful to use their space while tapping into their project management methodologies and expertise.
The facilitation methodology we used for this Think Tank-a-Thon was SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats). This process used a round table style of question-asking to drill down to the root cause challenge the two organizations were trying to solve. We gained additional insight by asking the same questions from the point of view of the potential partner.
Strengths - describe what an organization excels at and what separates it from the competition: a strong brand, loyal customer base, a strong balance sheet, unique technology, and so on. For example, a hedge fund may have developed a proprietary trading strategy that returns market-beating results. It must then decide how to use those results to attract new investors.
Weaknesses - stop an organization from performing at its optimum level. They are areas where the business needs to improve to remain competitive: a weak brand, higher-than-average turnover, high levels of debt, an inadequate supply chain, or lack of capital.
Opportunities - refer to favorable external factors that could give an organization a competitive advantage. For example, if a country cuts tariffs, a car manufacturer can export its cars into a new market, increasing sales and market share.
Threats - refer to factors that have the potential to harm an organization. For example, a drought is a threat to a wheat-producing company, as it may destroy or reduce the crop yield. Other common threats include things like rising costs for materials, increasing competition, tight labor supply and so on.
Definitions utilized from Investopedia.
Our participants then used the answers and insight they had gained to make recommendations on how the nonprofit could tangibly address the problem they are facing. We are excited to see these actions come to fruition and see the rewards that they pay for the organizations themselves as well as for the individuals they serve. A huge thank you to Joyce Hettrich and Monique Brown our Think Tank-a-Thon committee members for facilitating these discussions