The study:
For the purpose of this study, we will use two time tested tools that are expensively sought in Corporates as a part their strategy formulation and decision making. We shall use the 5 Factors Framework of Michel Porter which is used to understand the likelihood of a product or a strategy succeeding in the market place. And we will use SWOT Model to analyze the various facets of coaching industry.
Here we will deem Coaching as an industry and use the 5 Factor Frameworks to check the attractiveness of the industry.
Porter listed the following factors and argued that these 5 Factors have a bearing on the success of a strategy. They are viz:
The following framework captures the elements of coaching an industry as it evolves over the near future:
SWOT Analysis
This tool is used to identify the Strength, Weakens, Opportunities and Threat of the existing coaching context. Basis the SWOT analysis, relevant and appropriate actions can be formulated.
The Inferences
The study on the basis of the two models provides us the following inferences on the subject:
Conclusion
The above analysis clearly indicates that, coaching profession will obtain its eventual glory and place in the near future. An integrative school/college curriculum, tie up with educational institutes, companies of repute and the quality of professional coaches, can take the coaching fraternity to a higher order.
I also foresee a day, when clients proudly display the name of their coaches in their business cards!!!!
PS:
In this respect, the monumental work being done by ICA to give an identity and hope to the profession is highly admirable.