The SWOT analysis is a major component of the strategic planning process. It provides leadership with an evaluation of organizational performance in relation to competitors and external forces. This evaluation helps leaders capitalize on organizational strengths and improve its weaknesses in order to differentiate itself from competitors.
It is important for a nurse executive to consider how the setting in which it is conducted, and the stakeholders involved, may affect the results of a SWOT analysis. When conducting a SWOT analysis, it is also vital to have comprehensive and objective assessment of each element of the analysis in order to get an accurate understanding of the issues surrounding the strategic plan issue.
Review the Learning Resources, including this weekâ€™s media presentation, focusing on the elements of a SWOT analysis.
Think about your Strategic Plan and the data sources you could analyze to conduct a SWOT analysis at your selected location.
Reflect on who else, besides yourself, should be involved in conducting the SWOT analysis related to the identified strategic plan issue.
Consider how values and experiences may influence perceptions related to SWOT analysis. Think about the specific group or organization that is the focus of your Strategic Plan. How would conducting a SWOT analysis in this setting versus another affect the investigation? How would the involvement of certain individualsâ€”and the lack of involvement by othersâ€”affect the analysis?
By Day 4
Post an explanation of your plan for conducting a SWOT analysis as part of your Strategic Plan, including data sources that could be used. Explain how the setting and individuals conducting the analysis might influence the process and results of the SWOT analysis.
My strategic plan is nursing staff retention in hospice care
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