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Healthcare Administration

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1. Explain what a SWOT analysis is and summarize the purpose of conducting a SWOT analysis.
A SWOT (strengths, weaknesses, opportunities, and threats) analysis is a specific, structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or plan. A SWOT analysis “aims to identify the internal strengths and weaknesses of an organization, along with external market opportunities and threats” (Buchbinder & Shanks, 2012). SWOT is a basic, straightforward model that assesses what an organization can and cannot do as well as its competitors and also shows potential opportunities and threats to the ideas being considered. The way SWOT analysis works is to take the information gathered and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats). Once this is completed, SWOT analysis determines what may assist in accomplishing the desired objectives, and what obstacles must be minimized to achieve favorable results (Buchbinder & Shanks, 2012). Users of SWOT analysis need to ask and answer questions which will give useful and meaningful information for each category to make the analysis useful and find the potential advantages and weaknesses.
A SWOT analysis is an integral part of any planning process because it provides a good all-around view of the current situation as well as the considerations of future obstacles or issues. At the planning stage preceding the SWOT analysis, targets and forecasts of performance gives a picture of the issues to be addressed by new strategies. The strengths and weaknesses sections provide a look at the company's current position and what is immediately helping or hindering the process, while the opportunities and threats sections help to project possibilities and challenges going forward (Buchbinder &

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