GAP ANALYSIS is simply determining where you are right now verse where you want to be in the future. Then looking at what it will take to bridge the GAP between your current reality and true potential.
GAP ANALYSIS: A technique that businesses use to determine what steps need to be taken in order to move from its current state to its desired, future state. Also called need-gap analysis, needs analysis, and needs assessment. Gap analysis consists of (1) listing of characteristic factors (such as attributes, competencies, performance levels) of the present situation (“what is”), (2) listing factors needed to achieve future objectives (“what should be”), and then (3) highlighting the gaps that exist and need to be filled. Gap analysis forces a company to reflect on who it is and ask who they want to be in the future.
(Source: www.business dictionary.com)
GAPs can exist in every area of a business. This can be a gap in current ability and skills of the existing workforce to carry out a strategic plan to reach full potential. It could be operational limitation such as capacity or systems and processes. It could be regulatory hurdles or geopolitical challenges. It could be the dreaded capital chasm. Realistically it is a combination of multiple areas within an organization that limits the opportunities for reaching full potential.
With the help of a third party you can work systematically in identifying challenges and opportunities that exist. The challenge for many leaders of industry is in excepting the input of a third party fearing they will look less competent in their role. When on reality recognizing the need for multiple view points and the utilization of a variety of strengths and skill sets is one of the greatest attributes a leader can have in business today.