During the analysis stage, you consider external factors that pose possible threats to or provide opportunities for your organization and compare these factors against your HCO’s internal operation to diagnose its strengths and weaknesses. Many HCOs have found it useful to conduct a SWOT analysis. SWOT is an acronym for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses refer to elements that are internal to the organization; opportunities and threats are external to the organization. An effective SWOT analysis helps the marketing team determine the healthcare organization’s position in a particular market place as well as the positions of its competitors. By analyzing the current market and the deficiencies of the HCO’s competitors, and by assessing the HCO’s internal strengths and weaknesses, the marketing team can reposition the organization to meet and exceed the needs of its customers.
For this assignment, you will conduct a detailed SWOT analysis of your chosen healthcare organization for your Final Project. Discuss your selected organization’s strengths, weaknesses, opportunities, and possible threats.
The SWOT analysis should include the following five components:
·Strengths – An organization’s resources and capabilities that can be used as a basis for developing a competitive advantage.
·Weaknesses – Limitations of an organization to meet the needs of its determined customer base.
·Opportunities – External conditions that may reveal certain new opportunities regarding profit and growth.
·Threats – Factors or changes in the external environment that may present threats to the organization.
·Summary/Recommendations – After conducting your SWOT analysis, write a paragraph in which you provide your recommendations to the CEO of your chosen healthcare organization. Also state how you will use this information to create a marketing plan that will ensure the following:
oThe organization’s resources are not wasted
oTime is well spent
oMarketing efficiently is improved
·Must be four to five double-spaced pages in length (not including the title page and references page) and formatted according to APA style as outlined in the Ashford Writing Center.
·Must include a separate title page with the following:
oTitle of paper
oCourse name and number
·Must use at least three scholarly sources in addition to the course text.
document all sources in APA style
Valentin, E. K. (2001). SWOT analysis from a resource-based view (Links to an external site.). Journal of Marketing Theory and Practice, 9(2), 54-69. Retrieved from http://www.jmtp-online.org/
Simoneaux, S. L., & Stroud, C. L. (2011). SWOT analysis: The annual check-up for a business (Links to an external site.). Journal of Pension Benefits, 18(3), 75-78.