A Strengths, Weaknesses, Opportunities and Threats analysis, or SWOT, is a tool many organizations use ineffectively for strategic planning, according to a white paper from AchieveIt.
The white paper, "Converting the SWOT Analysis Into a Blueprint for Transformation," describes four critical flaws of a standard SWOT analysis:
1. Lack of understanding. "The team conducting the SWOT oftentimes has very little training and education in the purpose for and use of a SWOT analysis, nor do they understand the strategic differences of the four SWOT categories," AchieveIt wrote.
2. Suboptimal use. "The SWOT is generally thought of as a brainstorming exercise, which omits critical business intelligence," the white paper states.
3. Incomplete team. "The team conducting the SWOT often excludes key stakeholders who hold critical insights into strategic and operational issues," the white paper states.
4. Lack of follow-through. "The SWOT is rarely — if ever — translated into true business and operational strategy," AchieveIt wrote.
3 Trends Driving the Healthcare Market
Strategic Planning in the C-Suite and Board Room: How Hospital Leaders Can Jointly Develop a Roadmap for Success
The white paper, "Converting the SWOT Analysis Into a Blueprint for Transformation," describes four critical flaws of a standard SWOT analysis:
1. Lack of understanding. "The team conducting the SWOT oftentimes has very little training and education in the purpose for and use of a SWOT analysis, nor do they understand the strategic differences of the four SWOT categories," AchieveIt wrote.
2. Suboptimal use. "The SWOT is generally thought of as a brainstorming exercise, which omits critical business intelligence," the white paper states.
3. Incomplete team. "The team conducting the SWOT often excludes key stakeholders who hold critical insights into strategic and operational issues," the white paper states.
4. Lack of follow-through. "The SWOT is rarely — if ever — translated into true business and operational strategy," AchieveIt wrote.
More Articles on Strategic Planning:
8 Questions to Guide Healthcare CEOs' Strategic Decisions3 Trends Driving the Healthcare Market
Strategic Planning in the C-Suite and Board Room: How Hospital Leaders Can Jointly Develop a Roadmap for Success