Week 7: Tools for Strategic Planning—Strengths, Weaknesses, Opportunities, and Threats Analysis
The leaders at a home health agency hopes to expand their client base by forging a presence in several nearby communities. Those engaged in strategic planning begin to survey the internal environment, evaluating their financial resources, the skills and expertise of staff and administration, and technology infrastructure. In addition, they assess the external environment, examining the needs of their current and potential customers, services offered by competing organizations, the labor market, the economy, and regulatory issues.
Situational analysis involves looking within a group or organization, as well as throughout the external environment to ascertain current conditions and future possibilities. This week you examine how to direct and organize an analysis in preparation for planned change.
For your Course Project, you apply the principles of strengths, weaknesses, opportunities, and threats(SWOT) analysis, a well-known tool used to assess internal and external environments relative to a proposed change. By evaluating the strengths and weaknesses of the group or organization, as well as the opportunities and threats in the environment, leader-managers can use this information to facilitate effective strategic planning.
· Apply a strategic planning tool to identify the strengths, weaknesses, opportunities, and threats of a proposed change
· Identify a topic for a culminating project
· Analyze historical data and forecasts to identify opportunities for change
· Evaluate research evidence for addressing unmet needs in health care or nursing