Professional Documents
Culture Documents
#C # C&' (C '") ('CC'C &+ (,,'C&'"C ,-.$. $ / # 0 "C $ $ $$1 $ #
#C # C&' (C '") ('CC'C &+ (,,'C&'"C ,-.$. $ / # 0 "C $ $ $$1 $ #
Strategic planning demands realistic and objective assessment. At least twice each year, use the SWOT analysis to discover key internal and external issues and refresh the strategies and tactics of your marketing plan. Understanding where you are today is fundamental to achieving your future goals. The well-known SWOT analysis appears disarmingly simple. But avoid the temptation do it quickly or casually. Taking this valuable analysis for granted would be downright unfortunate. Thoughtfully listing the STRENGTHS, WEAKNESSES, OPPORTUNITIES and THREATS of your situation should be done at least once a year. It's a "big picture" exercise that challenges you to compile, analyze and evaluate the significant influences that work for or against your strategic objectives. A SWOT analysis is useful for hospitals, medical groups, and individuals in private practiceit helps focus your marketing in areas that harbor the strongest benefits. Here are a few ideas to maximize the value and generate effective strategies from this exercise.
Identify and list the key elements in each quadrant. Get these down on paper as the first step.
a new and/or innovative service capabilities or cost advantages cultural connections extraordinary reputation other aspects that add value special expertise and/or experience superior location or geographic advantage
WEAKENSSES: What areas need improvement (or should be avoided)? Ask:What would remove or overcome this weakness? Weaknesses can sometimes be the absence of certain strengths, and in some cases, a weakness may be the reverse side of one of your strengths. Weaknesses might include:
y y y y y y y y
absence of marketing plan damaged reputation gaps in capabilities or service areas lagging in technology management or staff problems own known vulnerability poor location or geographic barriers undifferentiated service lines
y y y y y y y
a market vacated by a competitor availability of new technology changes in population profile or need Competitor vulnerabilities lack of dominant competition new market segment that offer improve profit new vertical, horizontal, or niche markets
THREATS: Can include anything that stands in the way of your success. No practice is immune to threats, but too many people miss, ignore or minimize these threats, often at great cost. Ask: What can be done to mitigate each threat? Can a threat become an opportunity? Threats could include:
y y y y y y y y y y
a competitor has an innovative product or service a new competitor(s) in your home market adverse changes in reimbursement or regulations changing insurance plans and/or contracts for major area employers competitors have superior access to channels of distribution economic shifts loss of key staff or associates new or increased competition seasonality shifts in market demand or referral sources
7. Update your marketing plan and goals: Once the key issues have been identified, define the action steps to achieve change.