Strategic planning within organizations provides a plethora of benefits to the organization including meeting goals specified in the plan and contributing to the long-term success of an organization. Refer to Exhibit 8.3: The Strategic Management Process.
For this assignment, use the hospital as your organization related to strategic planning for a proposal you would like to implement.
Identify a strategic goal through performing a SWOT (strengths, weaknesses, opportunities, threats) analysis within your sphere of influence. If you are a nurse, perhaps you see opportunities to improve communication processes in your department, management, leadership position, etc.
A SWOT analysis is part of strategy formulation that leads to goal setting and then progresses to the development of a strategic plan. Be sure to follow the criteria for effective goals as illustrated to Exhibit 7.5.
Complete a SWOT analysis using the “SWOT Analysis” template. Consider the following guiding questions as you complete the SWOT Analysis:
- What are the recognized strengths of your identified area?
- What does your identified area do better than other companies?
- What unique capabilities or resources does you identified area possess?
- What do other companies consider to be your strength?
- What are the recognized weaknesses of your identified area?
- What do competitors do better than your identified area?
- What areas can be improved at your current position?
- What do other companies consider to be your weakness?
- What trends or conditions impact the company in a positive way?
- What opportunities exist for the identified area?
- What trends or conditions impact the identified area in a negative way?
- What is the competition doing that may have an impact on your identified area?
- Does your identified area have solid financial support?
- What impact does your weakness have on the threats your identified area faces?
These questions are samples of what you may need to address in your SWOT Analysis. Using the SWOT analysis results, develop at least one strategic goal. Submit both the completed SWOT analysis document and the strategic goal.