Preparing for a Strengths, Weaknesses, Opportunities, and Threats Analysis.
My unmet need is the need of medical transportation. As SWOT framework does not have a strictly defined structure, sometimes it becomes an art more than a science, which makes it difficult for practitioners to use SWOT and extract strategies from it. — Sepehr Ghazinoory, Mansoureh Abdi, and Mandana Azadegan-Mehr, “SWOT Methodology: A State-of-the-Art Review for the Past, a Framework for the Future” How does the statement above resonate with what you have learned about SWOT analysis thus far? Preparing for a Strengths, Weaknesses, Opportunities, and Threats Analysis.
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This Discussion serves as preparation for the SWOT analysis you are conducting for your Course Project. How would you approach this part of strategic planning to address the unmet need you have identified? My unmet need is the need of medical transportation. To prepare: Review the Learning Resources, including this week’s media presentation, focusing on the elements of a SWOT analysis. Think about your Course Project and the data sources you could analyze to conduct a SWOT analysis at your selected location. Reflect on who else, besides yourself, should be involved in conducting the SWOT analysis related to the identified unmet need. Consider how values and experiences may influence perceptions related to SWOT analysis. Think about the specific group, unit, or organization that is the focus of your Course Project. How would conducting a SWOT analysis in this setting versus another affect the investigation? How would the involvement of certain individuals—and the lack of involvement by others—affect the analysis? By Day 3 Post an explanation of your plan for conducting a SWOT analysis as part of your Course Project, including data sources that could be used. Preparing for a Strengths, Weaknesses, Opportunities, and Threats Analysis. Explain how the setting and individuals conducting the analysis might influence the process and results of the SWOT analysis. Ghazinoory, S., Abdi, M., & Azadegan-Mehr, M. (2011). SWOT methodology: A state-of-the-art review for the past, a framework for the future. Journal of Business Economics & Management, 12(1), 24–48. Retrieved from the Walden Library databases. This article provides a valuable introduction to SWOT analysis and presents a SWOT matrix for developing strategies. Hamidi, K., & Delbahari, V. (2011). Formulating a strategy for a university using SWOT technique: A case study. Australian Journal of Basic & Applied Sciences, 5(12), 264–276. Retrieved from http://ajbasweb.com/old/ajbas/2011/December-2011/264-276.pdf The author examines the application of SWOT analysis at a university. Houston, K, T., Bradham, T. S., Muñoz, K. F., & Guignard, G. H. (2011). Newborn hearing screening: An analysis of current practices. Volta Review, 111(2), 109–120. Retrieved from the Walden Library databases. This article provides an example of SWOT analysis related to early detection and intervention of hearing problems in newborns. White, K. R., & Blaiser, K. M. (2011). Strategic planning to improve EHDI programs. Volta Review, 111(2), 83–108. Retrieved from http://ajbasweb.com/old/ajbas/2011/December-2011/264-276.pdf This article describes the methods used to conduct a SWOT analysis and then identify specific recommendations for action Preparing for a Strengths, Weaknesses, Opportunities, and Threats Analysis.
Preparing for SWOT analysis
An evaluation of the business environment and how it influences strategic plan development and operation is important for any business since it allows them to plan business activities and improve the odds for success and profitability. This is particularly true for startups that do not have a firm foothold on the market and must use every opportunity to improve their odds for success. In this respect, it can be accepted that environmentalanalysis that considers what comprises the environment and its influence on business activities (to include SWOT analysis) is an important component to improving profitability and gaining a competitive advantage in an increasingly competitive environment (Kerin, Hartley &Rudelius, 2014).
SWOT is an acronym for strengths, weaknesses, opportunities and threats. Its popularity stems from the fact that it analyses both the external and internal factors that have an effect on the company’s profitability and productivity. In this case, the internal factors can be gleaned from the strengths and weaknesses analysis while the external factors can be gleaned from the opportunities and threats analysis. Applying SWOT in the context of the proposed startup would ensure that all the relevant information was collected to facilitate decision making based on an interpretation of the information that had been summarized in the SWOT matrix (Walker, 2015) Preparing for a Strengths, Weaknesses, Opportunities, and Threats Analysis.
The proposed startup understands that a sustainable management of a business entity comprises more than just delivering products and services where and when the market needs them. In fact, it is acknowledged that a prosperous enterprise will flourish in the long run if it gratifies its stakeholders’ objectives to include what the customers, suppliers, employees, local communities, governments, public interest groups, and investors want. To gratify the goals of its stakeholders, the start must acknowledge the need for environmentalanalysis that would make use of SWOT criteria to direct strategic decisions (Ferrell, O., Fraedrich& Ferrell, L., 2016) Preparing for a Strengths, Weaknesses, Opportunities, and Threats Analysis.