Importance of a SWOT analysis
SWOT Analysis Due Week 3 and worth 200 points What is a SWOT analysis? The SWOT is an organizational performance tool used to conduct a situation analysis. The acronym SWOT stands for the following factors: Strengths – internal factors that leverage organizational performance Weaknesses – internal factors that will affect the health care organization (cost, quality, etc.) Opportunities – external factors that improve initiatives for the organization Threats – external factors that could negatively affect organizational performance The SWOT analysis should match the organization’s resources and capabilities to the competitive environment in which it operates. The analysis should help guide the organization’s formulation and selection of strategy. The SWOT analysis framework is often represented in a 2 x 2 matrix. (See template below.
) Strengths and weaknesses are internal to the company and can be directly managed by it, while opportunities and threats are external (meaning the company can only anticipate and react to them). Using the health care companies selected in Week 1, create a slide presentation with no more than 12 slides (with bullets) and note pages that include the following (Note: Use the bullets below to help you structure your presentation): The first slides should introduce your companies and why you chose them. Include your completed SWOT diagrams (one for each company). Include a comparison of each company’s SWOT. Identify a minimum of three factors that affect each firm’s environment. You must include the internal and external environments (e.g., resources, market, competitors, geographical, global) in each factor. Rate the top two concerns, based on your professional experience. Assess and provide recommendations that will: 1. enhance the strengths, 2. minimize the weaknesses, 3. maximize the opportunities, and 4. overcome the threats.