Preparing for SWOT analysis Essay.
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?
ORDER A PLAGIARISM-FREE PAPER HERE
This Discussion serves as preparation for the SWOT analysis you are conducting for your Course Project Preparing for SWOT analysis Essay. 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. 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 SWOT analysis Essay.
Preparing for SWOT analysis
Understanding the environment is a very important step in the strategic planning and management of a business entity. This is particularly true for start-up that must not only contend with acquiring customers but must also have the capacity to compete with business entities that have been established for long. Overall, understanding the environment is of importance to business entities with an interest in achieving success in terms of profitability and return on investment. Although there are a range of tools that can be applied to evaluate the business environment, SWOT analysis is perhaps the most commonly applied tool since it identifies the areas requiring strategic focus. SWOT, an acronym of strengths, weaknesses, opportunities and threats, talks to the inherent competitiveness within any business environment by identifying the focus areas that can help in gaining a competitive advantage and ensuring profitability (Bowerman, K. & Van Wart, 2015). It is this awareness that informs the proposed medical transportation business to conduct a SWOT analysis as part of the strategic planning process Preparing for SWOT analysis Essay.
As earlier indicate, SWOT is perhaps the most popular strategic analysis tool. That is because it condenses the internal and external environments into easy to understand concepts of strengths, weaknesses, opportunities and weakness that would then be applied in strategic decision making. The strengths and weaknesses aspects of SWOT analysis evaluate the internal environment while opportunities and threats aspects evaluate the external environment (Bojeun, 2014). Although SWOT analysis can be considered as a summation of business environment analysis, it can also be considered as a tool for gaining an awareness of the stakeholders’ expectations. Through understanding the stakeholders’ expectations as presented by the SWOT analysis, the startup is able to plan its activities around these expectations based on priority thereby ensuring that the investment made into the business can be applied into priority areas that would produce the most rewards (Plunkett, Allen & Attner, 2013) Preparing for SWOT analysis Essay.