A SWOT analysis is used to assist those involved in the strategic planning process in compiling information pertinent to formulating the rest of a strategic plan. Although the information garnered from such an analysis can help to formulate strategies, the SWOT analysis itself does not always render concrete answers. For example, something found in the SWOT analysis might not fit neatly into one of the categories, but instead can be placed in several depending on which perspective you are looking at the characteristic from.
Assume that you are asked to complete a SWOT analysis for a fictional, large, physician cardiology practice. You are having a hard time fitting all of the characteristics into the SWOT analysis categories. After careful deliberation, you complete the analysis and submit it for review to the practice manager.
- Give 2 to 3 examples for each of the SWOT categories for your cardiology practice SWOT analysis. Why did you select these categories for specific services?
- What advice would you give them on analyzing the results of the SWOT analysis?
- Does the SWOT relate to strategic assessment? How?