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Why is swot analysis important? simple essay
SWOT analysis in a large healthcare organization
Essays on SWOT Analysis
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Organizational performance is a result of business interaction with its internal and external environment (Houben, Lenie & Vanhoof, 1999). There are a variety of internal and external forces that either stimulate or compromise the organization's performance in achieving objectives or goals (Houben, et al., 1999). An analysis can identify and evaluate areas within or outside of the organizations to provide information for leadership. The analysis can be done by internal personnel or external experts. Experts are often used to identify, monitor, forecast and assess environment trends (Swayne, Duncan & Ginther, 2008). Often the SWOT analysis is used to review internal and external areas in the four components; strengths, weakness, opportunities and threats. The SWOT analysis indicates that the strengths and weakness are internal. Strengths are the organizational competitive advantages and distinguishing competencies (Houben, et.al, 1999). Weaknesses hinder the progress of the organization in a certain direction (Houben, et.al, 1999). Weakness can be considered areas of opportunities. Data collections from employees and customer surveys along with financial information can indicate the strengths and weakness. Opportunities and threats are viewed more as external forces. Opportunities are investment or change which the organizations may consider. Threats could be competitors or other known factors which the organization should identify. This paper will review a SWOT analysis that was conducted by an external exporter on the healthcare organization, Kaiser Permanente. The external expert is Datamonitor and is familiar with nonprofit organizations. Datamonitor (2011) indicates “that Kaiser Permanente (KP) is one of the ... ... middle of paper ... ...amonitor (2011). Kaiser Permanente.,Kaiser Foundation Health Plan, Inc. SWOT Analysis; Dec2011, p1-9, 9p DATAMONITOR (2010). Kaiser Foundation Health Plan, Inc. Kaiser Foundation Health Plan, Inc. SWOT Analysis; Nov2010, p1-8, 8p Hardwick, P.l (2005). Want a better business? Invest in SWOTing . Mississippi Business Journal, 1/31/2005, Vol. 27 Issue 5, pA5-A5, 3/5p Houben, G. Lenie, K. Vanhoof, K. (1999). A knowledge-based SWOT-analysis system as an instrument for strategic planning in small and medium sized enterprises. Retrieved from. http://www.cuaed.unam.mx/puel_cursos/cursos/d_gcfe_m_dos/modulo/modulo_2/m2-10.pdf Weisman, S (2008). S.W.O.T. analysis is no longer the best approach to planning for success. Hudson Valley Business Journal, 10/27/2008, Vol. 19 Issue 43, p11-11, 1/3p Swayne, L. E., Duncan, W. J., & Ginter, P. M. (2008). Strategic
A SWOT analysis was examined towards Sutter Health and its Affiliates to better understand the organizations strengths, weaknesses, opportunities, and threats. The SWOT analysis provides a breakdown of ways the organization can manage its negative aspects of weaknesses and threats to strategies a plan to overcome those concerns. In addition, the identifying of the strengths and opportunity in a SWOT analysis provides the bases of what the hospital has accomplished and how it should continue to manage those positive outcomes.
It is important to evaluate the ins and outs of a company to provide valuable information on the standings and future standings of the company. It also provides insight to develop strategies for long-term growth and shows potential threats that may hinder the bottom line. Strengths The strength portion of the SWOT analysis shows the internal environment, which are the controllable components of the firm that give a competitive advantage. This allows them to purchase high volume items for a lower cost.
The SWOT analysis: The study of the firm's Strengths, Weaknesses, Opportunities and Threats called SWOT analysis, a key step in flushing out known performance issues that are important to the growth of the organization addressed in the corporation strategic plan. The issues identified in the SWOT analysis help leadership to come up with a plan and strategy to achieve the overall mission of the company (Strategic Planning, n, d). Target Corporation is one of the largest public retailing company in the US having more than 1700 stores serving guests nationwide. Target group and its brand position are evaluated in the market using SWOT analysis.--
The organization that I choose to do my SWOT analysis on is the Children’s Healthcare of Atlanta. This organization is a nonprofit organization based here locally in the Atlanta area. Children’s Healthcare of Atlanta was established in 1998 with the merger of Egleston Children’s Health Care System and the Scottish Rite Medical Center. Out of this merger was born the largest pediatric system within the United States. In 2006 Children’s Healthcare of Atlanta continued to acquire Hughes Spalding Children’s Hospital with expanded the system to a total of three hospitals. To date, according to their website Children’s Health Care of Atlanta has 27 neighborhood locations spread throughout the Atlanta area, and six urgent care facilities that offer primary care, sports medicine, rehabilitation and surgical services.
What is a SWOT analysis? This concept involves assisting businesses to identify their strengths, weaknesses, opportunities and threats. It is often used to analyze an organization and its environment. Businesses find the analysis useful in assisting them to improve their business, establish goals and objectives.
“KP is the largest non-profit health care delivery system in the United States, and operates in 8 states and the District of Columbia. KP is made up of 3 entities: the Kaiser Foundation Health Plan (KFHP), Kaiser Foundation Hospitals (KFH), and the regional Permanente Medical Groups,” (Selevan, Kindermann, Pines, and Fields (2015). Selevan al et (2015) state that the members of Kaiser Permanente can be compared to other insurance companies in regards to age, race, and employment status, although the members are known to have lower income levels. Additionally, they found that Kaiser Permanente’s model of care focuses on improving the health of patients, promoting population
A SWOT analysis is simple exercise that could be implemented on multiple subjects including an individual or a whole corporation. The SWOT analysis is an operational tool for managing change, defining strategic direction and setting realistic goals and objectives according to Simoneaux and Stroud (2011). Discovering new opportunities and manage and eliminate threats that are present in the company and the surrounding market. SWOT is a valuable technique that leads to a better understanding of the strengths, weaknesses, opportunities and treats both internally and externally. The strengths and weakness are to be considered internal factors and opportunities and threats to be e...
Qualitative research provides insight into developing phenomena or offers a new perspective on current trends. Prior to the creation of a dynamic strategic plan, the SWOT analysis offers a critical assessment of an organization’s competitive position, though the four areas of assessment are not weighted, nor does the utilization of the tool provide specific direction for the organization and requires subjective interpretation of the data. Input from stakeholders brings validity to the information gathered while conducting a SWOT
It goes through the through the strength, weakness, opportunities and threats of the company. This analysis is called the SWOT analysis. It is divided into two major parts. External Factors and Internal Factors Strength and weakness are concerned with the internal factors, and opportunity and threat are concerned with the external factors. 3.1 External Factors Here only opportunities and threats are analysed as these are supposed to be listed as anticipated events or trends outside the business that have implications for performance.
The definition of SWOT analysis is comprehensively summaries the internal and external conditions, critical evaluate advantages and disadvantages of organization, facing the opportunities and threats, in order to the combination of company 's strategy and internal resources and external environment (Yuan, 2013). In contrast, SWOT analysis method is a descriptive model, because the enterprise strategy is often a typical uncertainty problem, the lack of adequate analysis and logic, and a SWOT analysis cannot provide the specifically, format of strategic advice (David,
A SWOT analysis is used to assess a company’s strengths and weaknesses found within the company, as well as opportunities and threats that emerge from the external environment. In this analysis, the main strengths, weaknesses, opportunities, and threats facing the Ford Motor Company will be discussed to provide a powerful analysis tool that supports the planning process for marketers.
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A SWOT analysis is a measure tool to summarize a company’s internal and external aspects. By measuring the company’s strengths, weaknesses, opportunities and threats and looking for improving solutions by using the strengths and opportunities to improve on the weaknesses and take the necessary actions concerning any threats a company can survive in today’s world market.
The SWOT analysis is a useful tool for identifying our personal strengths, weaknesses, opportunities, and threats to our plans and goals. According to a “Fuel My Motivation” article (2010), this analysis considers internal influences that can positively or negatively affect our ability to achieve our goals. The internal factors are our strengths and weaknesses. Also considered are opportunities and threats, which are external influences that can have a positive or negative impact on the ability to achieve our goals. I will share how the self-assessment instruments and self-exercises in this course have contributed to assessing and understanding my strengths and weaknesses. I will also discuss techniques I will use to leverage my strengths and understand my weaknesses. In addition, I will consider opportunities that I can take advantage of and the threats that can possibly impede my progress.
In this report, we adopt SWOT analysis to determine the strategic fit between the company’s internal, distinctive capabilities and external threats in the current market. Recommendations were provided in the later part of the report on the possible approach to tap on external market opportunity and our suggestion to resolve current issues faced by the company.