What are your views on this article: A SWOT analysis is a strategic tool utilized by organizations and companies to know where their standing is in the competitive market.
What are your views on this article: A SWOT analysis is a strategic tool utilized by organizations and companies to know where their standing is in the competitive market. Organizations examine four processes within their organization under the SWOT analysis: strengths, weaknesses, opportunities, and threats. Strengths can be for example: marketing position, accreditation support, work environment, and innovation aspects of the organization. Weaknesses can be for example: gaps in capabilities, lack of competitive strength, reputation, processes and systems, and continuity of care. Opportunities are situations such as: customer loyalty, technology and innovative developments, competitor’s vulnerabilities, and niche within the target market. Threats are situations such as: market position, market demand, environmental barriers, financial and credit position.
When an organization is attempting to enter the market or attempting to introduce new technology and or innovations they must study/assess the target market. Entering new markets to the introduction of new processes and innovation includes many threats like the acceptance of the processes and innovation/technology. However, threats can also be opportunities, the target market may be accepting of the new product. Therefore, a through assessment of the market to enter must be performed. A factor that can affect a health care organization entry is if the introduction of said innovation affects the patient population, and in which way? Will the new technology benefit the patient in terms of quality and efficient patient care and patient satisfaction? Is the target market/population in need of new technology and innovations (telehealth, telemedicine or satellite clinics)? Then there are the internal environments and possible barriers. Are staff well trained and skilled to offer these new technologies? The novice employee can be a weakness but also a strength. You can teach a novice employee more so than a seasoned employee who is set in his/her way and resistant to change.
Pant, P. (2019). SWOT Analysis: A Powerful Tool of Strategic Competitive Management Effectiveness. Adhyayan: A Journal of Management Sciences, 9(2), 31-37. https://doi.org/10.21567/adhyayan.v9i2.6
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