What is a SWOT analysis? The SWOT is an organizational performance tool used to conduct a situation analysis. SWOT is an acronym, which stands for the following factors: Strengths- factors that leverages the organizational performance Weaknesses- factors that will affect the health care organization (cost, quality, etc). Opportunities- factor that improve initiatives for the organization. Threats- factors that could negatively affect organizational performance. A SWOT analysis is a strategic planning exercise used to evaluate an organization’s strengths, weaknesses, opportunities, and threats. The SWOT analysis should match the organization’s resources and capabilities to the competitive environment in which it operates. The analysis should help guide the organization’s formulation and selection of strategy. The SWOT analysis framework is often represented in a 2 x2 matrix. (See template below). Strengths and weaknesses are internal to the company and can be directly managed by it, while the opportunities and threats are external and the company can only anticipate and react to them. Using the health care company selected in week 2, create a slide presentation with no more than 8 slides with bullets and note pages that includes the following: 1.The first slide should include your completed SWOT diagram. 2.Identify a minimum of five (5) factors that affect the firm’s environment. You must include the internal and external environments (for example: resources, market, competitors, geographical, global) in each factor. Rate the top three (3) concerns, based on your professional experience. 3.Assess and provide recommendations that will: a.Enhance the Strengths b.Minimize the Weakness c.Maximize the Opportunity, and d.Overcome the Threat 4.Assume you are meeting with your internal or external stakeholders. Create a Stakeholders Recommendation in which you: ◦Provide a summary of your SWOT analysis to the stakeholder selected. ◦Provide three (3) recommendations. 5.Include two or more references to support your rationale. Extra Credit (15 points): You may earn up to fifteen (15) points of extra credit for submitting a slide presentation that includes either a voice or video recording in which you present your SWOT Analysis. (This is in addition to submitting original deliverable requirements) The specific course learning outcomes associated with this assignment are: •Apply the health financial planning process and it’s components in financial management activities •Analyze the principles of financial planning, management, and budgeting in the health care organization. •Explain cost-setting methods and demonstrate how cost setting affects the revenue cycle. •Use technology and information resources to research issues in health financial management. •Write clearly and concisely about health financial management using proper writing mechanics. Click here to view the grading rubric for this assignment.
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