When creating a strategic business plan, one of the most important analysis tools that can help management identify areas that need improvement and the areas that are strong and already beneficial to the company is a SWOT analysis. Using this tool management can determine the parts of a business that may need more of their time and resources in order to outcome obstacles that may prevent growth. In this paper, we will create a SWOT analysis for our fictitious company Vandalay Healthcare Inc.
Strategic Healthcare Plan A SWOT analysis is a tool that can be used by management to measure or audit the organization as a whole. SWOT is an acronym for the Strengths, Weaknesses, Opportunities and Threats by internal and external that can effect and hinder a company in various ways. Using the SWOT analysis a company can learn to identify the parts of a business that are helping the business grow and the same analysis can identify areas where the business can make improvements (Marketing Teacher, 2012).
The greatest distinguished features that management should include when creating a SWOT analysis is, where the business is today and where it hopes to be in the future, and the analysis should be subjective and specific, the most effective analysis are short and direct. The SWOT that was created for the fictitious company, Vandalay Healthcare Inc., is as follows:
Vandalay Healthcare Inc.
The goals for Vandalay Healthcare Inc., as defined in the company’s mission and vision statements is to become one of the most successful company’s in the field of Certified Life Care Planning, and also to build the company to maintain a certain level of integrity. The external and internal environments that would directly affect this company can possibly cause the company to become in financial trouble at some point, since the knowledge of the field is expanding and the threats of medical advancements could hinder the need