What are your thoughts about the validity of a strengths, weaknesses, opportunities, and threats (SWOT) analysis in strategic planning?
SWOT analysis are critical for any organization. As a result of the constant change that healthcare organizations experience, they are frequently having to modify their mode of operation on many of their procedures in order to ensure they stay ahead of the curve and operational. One of these procedures entails the assessment of the organization’s strengths, weaknesses, opportunities and threats (SWOTS). SWOT is not a practice that is generally utilized in healthcare but it has been around and utilized by other business since about the mid 1960s and is often conducted by a team of specialist that evaluate the organization from an analytical perspective basing their review on operations, patient satisfaction, organizational data on performance and economic status (Harrison, 2010).
SWOT examines the dynamism motivating or encumbering organizational change. This signifies that the organization must be able to identify its strengths as well as its weaknesses, opportunities as well as any potential threats. Once the motivational forces have been identified, healthcare organizations can create a strategy to strengthen positives and reduce any negatives forces in order for the positive forces to outweigh the negative and achieve success. Evaluating organizational needs and values is not only prosperous for the organization, but also for their stakeholders. Those that encourage or stimulate change are a positive moving influence. SWOT relates to strategic planning because their paths are symbiotic. Primarily, strategic planning aims to harmonize the organization into balance with its external environment. This is accomplished by reviewing any new programs and services that will maximize the performance of the organization (Harrison, 2010).
Harrison, J. P. (2010). Strategic Planning & SWOT Analysis. In J. P. Harrison, Essentials of Strategic Planning in Healthcare (pp. 91-97). Health Administration.