SWOT ANALYSIS IN MANAGEMENT

SWOT ANALYSIS IN MANAGEMENT One of the management processes carried out by schools is management in terms of school financing. Of course, in organizing school activities, operational costs are needed, and as a principal, he must be able to optimize as much as possible so that the school he leads can achieve the expected goals. One of the abilities that a principal must have is being able to manage school finances and financing and the strategies used to manage the school budget work plan. The education financing standards as regulated in Government Regulation Number 19 of 2005 are standards that regulate the operational costs of educational units that are valid for one year consisting of investment costs, operational costs, and personal costs. In improving the quality of education, the government has attempted many strategies, for example through financing the School Operational Assistance Fund (BOS), Regional School Operational Assistance (BOSDA), Education Operational Assistance (BOP), and so on, as well as RAPS as the financial management of a school institution. As for the definition of strategy put forward by James Brian Quinn (2002), strategy is an incremental approach, namely: a pattern or plan that integrates the main objectives, policies and sequences of organizational actions into one cohesive whole, a decisionmaking pattern that is formed through strategy, can mobilize and direct all organizational resources effectively to the realization of the organization's vision. Finance and financing are one source that directly supports the effective and efficient management of education. The financial and financing components are things that determine the implementation of learning activities. Therefore, this study will focus on financial and financing strategies in schools using SWOT analysis. A. Basic Concept of SWOT Analysis SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is one of the strategic management that can be used by an institution or company to analyze the surrounding environment so that it can determine its chances of success. SWOT analysis contains the strengths, weaknesses, opportunities, and threats of a company or institution. These strengths and weaknesses refer to areas where the company or institution can actively manage and control. While opportunities and threats refer to external factors that can be influenced by the company or institution indirectly. SWOT analysis provides a detailed picture of the external situation by analyzing the environment in which it operates. This allows the company or institution to take advantage of its opportunities and overcome its threats. The company or institution must make the most of its strengths and pay attention to its weaknesses. In order for SWOT analysis to motivate the company or institution, it must be done in the correct order. This can be done by highlighting strengths and opportunities. SWOT analysis can be used by a leader in making a policy where this policy will affect the achievement of the goals of a company or institution. The following is a picture of the relationship between strengths, weaknesses, opportunities, and threats. B. Strategic Thinking Strategic thinking is very much needed for a company or institution that operates in various fields. Before that, we will first discuss strategy. Strategy is a plan that is prepared by considering various things related to what must be followed by a company or institution in different situations, such as how the company or institution's strategy responds to environmental changes or actions taken by others. Strategy is not only a step but a series of sequences and actions that are systematically arranged. In preparing a strategy we must analyze the situation, environment, possibilities, and impacts that will occur. The strategy made must also be adjusted to the available resources. From this explanation we can conclude that strategic thinking is a systematic way of thinking that is oriented towards the future by considering the situation, the surrounding environment, possibilities that will occur, and the impacts that will be caused and can utilize available resources optimally. In an institution or company, strategic thinking is not only needed for a leader or upper management but also employees or lower management. This is intended so that employees can understand and comprehend the instructions given by the leader or upper management. C. Financial Thinking Thinking financially or financial intelligence is one of the basic skills for a leader of an institution or company. Financial thinking can also be said as a financial approach. By thinking financially, a leader can certainly manage finances well by paying attention to various aspects that can affect the finances of the institution or company. A person who thinks financially must understand the basics of finance. If a leader has good financial thinking skills, this will affect the cash flow of the company or institution. In an institution or company, the success of a business activity can be shown by the amount of money generated in the form of net cash inflow that can be withdrawn or used for future interests. Financial thinking only focuses on the cash flow generated.