For this assignment, please compare and contrast, as well as assess, the usefuln
ID: 386989 • Letter: F
Question
For this assignment, please compare and contrast, as well as assess, the usefulness of SWOT and PEST analyses, which are frequently used by healthcare organizations in their strategic planning efforts. Your paper is expected to describe both tools briefly and explain how each is used in formulating strategy. In addition, your paper must describe the strengths, limitations, and challenges of each. For this assignment, please compare and contrast, as well as assess, the usefulness of SWOT and PEST analyses, which are frequently used by healthcare organizations in their strategic planning efforts. Your paper is expected to describe both tools briefly and explain how each is used in formulating strategy. In addition, your paper must describe the strengths, limitations, and challenges of each.Explanation / Answer
SWOT is an acronym for strength, Weakness , Opportunities and threats.
It can be further described as follows.
Strength
To measure the overall strength and strong points of the company SWOT analysis is carried out. Strength section provide information about the strong parts and operating sections of the company which is beneficial to learn for creating a competitive advantage.
Weaknesses
By determining a company's weaknesses we can easily improve the same which would definitely help in maintaining the competitive advantage for the company. Successful assessment of the weaknesses of a company directly increases you are a level of strategy design to improve the situation.
Opportunities.
Assessment of the opportunities is very essential for any organization to determine the future availability of the future possibilities of the different aspects of the development for the organization.
Threats
Knowing threats for any organization is important as its the only way an organization can improve its situation in the market and can develop their future strategies accordingly.
PEST analysis is used to assess different factors which directly affect an organisation.
It is a combination of
This type of analysis helps an organisation to understand the external forces acting on the specific organisation for creating a better availability of understanding for market as well as to successfully mold and design the strategic availability of the specific organisation.
Healthcare organisations uses both of the analysis methods to create and availability of understanding for their marketing situation as well as to create a better impact and influence on customer. Buy successful assessment of internal factors of the organisation healthcare setting increase the quality of care as well as focus on creation of best available opportunities for expanding their business.
External analysis provide availability of external factors and maintain better form of implementation of strategies according to the assessment done by PEST analysis. Availability of opportunities regarding implementation of can be implemented by using the specific analysis methods benefiting the organisation by a huge margin as well as implementing better structure of operational capabilities.
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