Gap Analysis

Performing a gap analysis can help you make changes for the better and identify weaknesses.

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Gap Analysis

Performing a gap analysis can help you make changes for the better and identify weaknesses. Small and mid-sized businesses can benefit from a gap analysis when determining the best way to allocate resources. Once you have uncovered the “gaps” through a gap analysis report, it becomes easier to focus on and address problems that may be affecting your target objectives.
In a gap analysis, the gap is described simply as “the space between where we are, and where we want to be.” To explain the first part of the statement, you must consider the present situation of your business. Important current factors such as attributes, performance, and employee competencies play into the overall productiveness of a business. The second part of the statement focuses on the desired future of these current factors. The distance or space between these two points is known as the gap and a gap analysis is used as a tool to uncover and then fill the gap by making necessary changes.
A Gap analysis does not provide an actionable plan it builds a foundation of understanding to create a report.
One of the biggest advantages is the ability to measure ongoing progress. A gap analysis establishes a measurement that a business can use to show how they have improved over time. It can also help you determine the best starting point based on needs, budget, timescales, and other influential factors.
As a growing business, you may also be wondering what your company’s strong points are. An effective gap analysis will help you identify what your business does best so you can avoid allocating extra resources to these areas. One of the biggest advantages of a gap analysis is your ability to see your company’s vision and where it compares to your current reality. While most businesses have a vision, many are not able to accurately execute it. A gap analysis can help you transform your vision into achievable goals and get closer to your ideal state.