It is essential for top management to conduct business analysis from time to time in order to evaluate the business’s condition similar to how a teacher or a guidance counselor resort to behavior analysis of students to know how well they are faring in school activities.
In business, knowing how well the business is faring, a gap analysis is procured to know how close the company is in achieving its goals. This is an internal document which aids the management in making decisions to improve the performance of the business. Look into the following gap analysis templates downloadable in PDF format for more ideas on this concept.
Competency Gap Analysis Templates
Gap Analysis of Competency and Skill
Competency Mapping Gap Analysis
Performance Gap Analysis Templates
Gap Analysis Example
What Is a Gap Analysis?
Gap analysis in business pertains to the comparison of the actual performance with the projected or expected performance outlined by management. This analysis defines how effective the business resources are used and how much of the company’s goals have been achieved. With the aid of the gap analysis as outlined on the gap analysis example templates on this website, like the market gap analysis templates, the company’s management can make necessary actions to fill the gaps in performance based on the results.
Gap Analysis vs SWOT Analysis
Business use different analyses in evaluating the performance of a business. Some of these analysis include the Gap and the SWOT analyses. Here are the differences of these analyses as outlined in the following:
- Evaluation Content – Information presented on the SWOT analysis include a comparison of the business with other businesses in the same field; whereas, the gap analysis focuses evaluation internally particularly with the business’s performance.
- Nature of Goals – As you may have noticed on the gap analysis template samples, a gap analysis is created to achieve attainable goals pertaining to short term goals of the company; while, a SWOT analysis is procured for long-term planning of the management.
- Depth of Information – A SWOT analysis is more detailed in terms of the evaluation on the business with its competitors; contrary to a gap analysis, which is simple and outlined for the management to make improvements to achieve objectives as depicted on the personal gap analysis templates.
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Business Gap Analysis Templates
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Business Gap Analysis Example
Classification of Gap Analysis Templates
To aid you in creating the gap analysis for your business, here is a list of some of the gap analysis templates in Word, in Excel or in PDF formats as provided on this website for your perusal:
In terms of Business Performance:
- Performance Gap Analysis Templates – This type of analysis template focuses on the company’s performance within a period covering all aspects such as the safety gap analysis templates on this website.
- Small Business Gap Analysis Templates – A startup business needs to be monitored by the management with the use of this analysis template to ensure that the starting business gear toward accomplishing its goals.
- Financial Gap Analysis Templates – This set of analysis templates cover evaluation on financial success and financial study within a financial company improving its services to reached desired performance.
- HR Gap Analysis Templates – Strategies to improve the Human Resource services of a company entails the use of this gap analysis template to define the aspects needed by the HR management to work on.
- Market Gap Analysis Templates – Handling the marketing of products or services require the need of this type of analysis template to correct lapses of marketing strategies deterring the company’s promotions and increase in revenue.
- Service Gap Analysis Templates – Evaluation on a company’s service with the use of this analysis template is a tool for improvement on the services provided to attain the expected goals of the servicing company.
In terms of Individual Performance:
- Competency Gap Analysis Templates – The skills of an individual in relation to the job being offered or being evaluated is done with the use of this gap analysis template.
- Employee Gap Analysis Templates – The employees’ actual performance is compared to the company’s expected employee performance as basis for an additional benefit to the compensation package of the employees.
- Personal Gap Analysis Templates – This type of gap analysis template aims to provide personal management and assessment of an individual.
Employee Gap Analysis Samples
Employee Gap Analysis Survey
Financial Gap Analysis Samples
Financial Services Gap Analysis
Financial Company Gap Analysis
Financial Gap Analysis Study
HR Gap Analysis Templates
Market Gap Analysis Templates
Product and Market Strategy
Loan Market Gap Analysis
What Are the Steps in Making a Gap Analysis?
Using the various free gap analysis template samples, here are the steps you can follow in making a gap analysis for your business as depicted on the business gap analysis templates on this website:
- Establish SMART goals of the organization. Firstly, definition of the business’s goals must clearly outlined. Business goals must be S.M.A.R.T.: specific, measurable, attainable, realistic and timely.
- Create base performance using historical data. Make a projected outline of your business’s performance with the use of your company’s historical data. Base performance data, as seen on the data gap analysis templates, come from the past actual performances in the previous fiscal year with added assumptions of the company basing on the current market conditions.
- Measure current business performance and compare. Compute the current actual performance of the company and compare it with projected one as depicted on the software gap analysis templates on this website.
- Analyze the differences after the comparison. Determine the reasons of the differences after the comparison. It is essential to create a report based on these quantitative and qualitative data.
- Define the company’s strategies to narrow gaps. Identify the actions the management will execute in order to align the actual performance with the desired outcome in order to achieve the company’s goals.
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Human Services Gap Analysis Report
Application Gap Analysis Templates
Application Gap Analysis Sample
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Personal Gap Analysis Templates
Blank Personal Analysis
Vital Elements in a Gap Analysis Template
The following are the vital elements that should be evident on the gap analysis template you are making:
- Determine the current and the future state of your business. At the start of your template, provide columns to determine the current state and the future state of your business. Information under the current state include the improvements you seek for the business, while details under the future state comprise of the goals you want to achieve for the business to reach.
- Identify the gap between these states. By comparing the information under the current and the future state columns you have listed, identify what factors deter you from reaching your goals in qualitative or in quantitative descriptions.
- Define strategies that you can apply to bridge the gap. With the example presented on the product gap analysis templates, define the actions you are going to take in order to fill in the gap between the current and the future states of your business. These are solutions to address the concerns relevant to your business’s performance.
Gap analysis are essential in making business decisions of top management who aims for growth in the business. These gap analysis templates can be your reference when you create a gap analysis for your company.