Goals for stevens district hospital part 1

BENCHMARK ASSIGNMENT - SWOT ANALYSIS 2

Benchmark Assignment - Swot Analysis

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Purpose of conducting the analysis in the context of the scenario.

SWOT analysis is carried out to be able to identify and appraise the internal (strengths and weaknesses) and external (opportunities and threats) environments which affect the operations of the business. This enables the management to recognize factors that influence the functioning of the hospital and hence provide necessary information required to improve and identify the roadblocks to management and planning. SWOT analysis enables the organization to prepare for the opportunities available and exploit them fully, attempt to prevent risks and problems faced. Thereafter, the organization will be able to design reliable and trustworthy strategies during decision making process (Abdel-Basset et al 2018).

Analyze the limitations and advantages of conducting a SWOT analysis.

Advantages

SWOT analysis provides critical and essential information regarding the operations of the business enabling the management to understand the business dealing better. The organization will be able to maximize on areas they are good at(strengths),capitalize on the market niches available by exploring all avenues for continuity of its operations.conversely,the business will be able to deal with the weaknesses posed internally and view threats in different perspective understanding they are there to improve the company but not to bring it into its knees(Abdel-Basset et al 2018).Thereafter, the business will confidently establish its goals and strategies which are aligned with its vision and mission and work tirelessly to achieve the objectives.

Limitations of SWOT analysis

According to Abdel-Basset et al 2018, the analysis only mull over issues that encompasses Strengths, Weaknesses, Opportunities and Threats making it a challenge to deal with the unforeseen issues.Swot analysis categorically identify issues but do not offer solution to the concerns requiring the management to design work breakdown schedule to execute the implementation of the details of swot analysis. When using the SWOT, one is able to obtain several ideas and a lot of information which very few are helpful in the execution of the strategies.Similarly,the SWOT analysis does not provide choices to all the ideas collected making it difficult for the organization to identify which one will work best. SWOT analysis only presents what need to be done, or what posses’ challenges and the prospects of the business. This limitation will require the management to organize strategies and schedule to be followed to execute the contents of the analysis.

Table 1: SWOT Analysis

Stevens’s district hospital has employed for the past two years experienced special expertise especially in the orthopedics and primary care which has increased efficiency in service delivery attracting more customers to the facility.

Perceived strength (internal)

The hospital has also incorporated e-visits for physician practices facilitating communication and access to better services convincing invalids to remain in the amenity than competitors.

Perceived strength (internal)

Stevens’s district hospital operates in Jefferson City with a population of close to 80,000.with the many patients they serve daily posses a problem of delayed services delivery making patients to seek treatment from competitors with adequate resources that operates fast.

Perceived weakness (internal)

The hospital has experienced reduced market share from 30-43 within five years due to high influx of competitors from 30-40 health facilities in the region.this makes them compete for patiens and a facility which provides better services has upper hand in attracting and retraining customer.

Perceived weakness (internal)

The hospital has had an improved income in the last five years to up to $22,571,501 last year from 16,063,127.this means that the competitors are vulnerable or offering poor services compelling the patients to Stevens’s hospital. They have taken advantage of the market gap and made progress.

Perceived opportunity (external)

Stevens hospital has also improved there facilities by introduction of e-visits to physicians simplifying their operations and motivating them to provide quality service and retain already existing customers.

Perceived opportunity (external)

The hospital has faced stiff competition from new physician clinics which practices primary and special care attracting many patients to these facilities

Perceived threat (external)

Stevens’s district hospital being nonprofit oriented, management Finds it difficult to upgrade the facility to higher standard due to limited sources of revenues. Other competitors have renovated their facilities drawing patients to newer amenities.

Perceived threat (external)

Refences

Abdel-Basset, M., Mohamed, M., & Smarandache, F. (2018). An Extension of Neutrosophic AHP–SWOT Analysis for Strategic Planning and Decision-Making. Symmetry, 10(4), 116.