“SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. By definition, Strengths (S) and Weaknesses (W) are considered to be internal factors over which you have some measure of control. Also, by definition, Opportunities (O) and Threats (T) are considered to be external factors over which you have essentially no control. SWOT Analysis is the most renowned tool for audit and analysis of the overall strategic position of the business and its environment. Its key purpose to identify the strategies that will create a firm specific business model that will best align an organization’s resources and capabilities to the requirements of the environment in which the firm operates. In other words, it is the foundation for evaluating the internal potential and limitations and the probable/likely opportunities and threats from the external environment.
It views all positive and negative factors inside and outside the firm that affect the success. A consistent study of the environment in which the firm operates helps in forecasting/predicting the changing trends and also helps in including them in the decision-making process of the organization” (www.managementstudyguide.com). In this paper, I am The C.E.O. of Community South Medical Center, a large, urban for-profit healthcare facility. This institution has comprehensive health services including acute care, residential care, independent living, in-home nursing, hospice, neonatal, and pediatric services, advanced cardiac services, a major trauma center, a center of excellence for pulmonary services, and a neurosurgery center, but it is time to embark on the annual updating of the organization’s strategic plan.
The last major revision to the strategic direction was completed three years ago. So as the C.E.O, I will identify one of the needs of Community South Medical Center and I will identify at least one strength, one weakness, one opportunity, and one threat (S.W.O.T.) for that need. I will also describe how each of these correlate to the overarching issues confronting Community South Medical Center. As the C.E.O., I will also make a decision about the issues confronting Community South Medical Center and do I wait another year or take care of issues now? I will discuss the management team and their responsibilities and I will discuss some of the market trends I can identify in this area and how might they affect Community South Medical Center.
First of all, as the C.E.O. of the organization, I strongly feel that one of the needs of the Community South Medical Center is the shortage of clinical staff including registered nurses, respiratory therapists, and medical technologists. One of the strengths that this organization has is it has a positive bottom line and is striving to enhance health services for the population it serves. Right now, the population is predominantly elderly people. One of the weaknesses would be that the patient care mix has shifted in the last three years and its reimbursement source is currently: 25% Medicaid (up 20%); 35% Medicare (down 12%); 25% employer sponsored health insurance(unchanged), 8% managed care (down 20%), 4% private pay (unchanged) and 4% no-pay (up 25%). One opportunity for this need is to keep supporting new program developments because there is an abundant supply of physicians who willing to help. Finally, one threat to this need is, that the businesses with well paying jobs have gradually been replaced by smaller shops and other smaller businesses, meaning that a lot of people will not be able to afford their health insurance and that is not good business at all.
As the C.E.O. of this organization, it is time to revise the strategic mission and plan of the organization from three years ago. Looking over three year’s ago strategic plan and how the company is doing this year, I would have to address the issues confronting Community South Medical Center now and not wait until next year. You shouldn’t put off what can be fixed now, until next year. The issues are going on now and they might worsen by next year. Anything could happen in a year’s time. I would have a board meeting with all the executives, all the managers of each department and sit down to come up with strategic plans on how to get our organization back on top. I would definitely talk to the Human Resources department and let them know to post job positions for the company out abroad so we can fill the positions that we lack in. I would talk to every department that are consumed with major issues and see if we can resolve the issues. We need to make sure we are completely staffed, that our numbers are correct, that are IT department is all together and make sure the Accounting department is compliance with The Joint Commission. I want everybody to be on the same page. We had a slight set back, but we need to recover and fix the issues.
Like mentioned in previous paragraphs, some of the market trends in this area are that the Medical Center is in an older urban area. Businesses with well paying jobs have gradually been replaced by smaller shops and other small businesses. Overall, the community is trending towards a predominantly elderly population and according to the patient care mix being shifted; Medicare has went down 12%. That is not really suffice for the elderly population and if you can’t afford healthcare insurance because your job due to being replaced by smaller shops does not offer you, also is not a good situation either since no pay has went up 25% from three years ago.
With the businesses being replaced, it is hard to afford healthcare insurance and that has a huge affect on Community South Medical Center because people are sometimes timid to go to the hospital knowing they do not have insurance or their insurance will not cover them for what is wrong with them, so they wait and wait and wait until it is too late. Then the center might get the flank of the problem because the person didn’t come to your facility for help. As a C.E.O., I just have to prepare my staff for all kinds of situations, whether they come up or not, better to know then not to know by meetings every month, etc.
In conclusion, I hope I was able to embark on the annual updating of the organization’s strategic plan and how I as a C.E.O. would make the organization better than it was three years ago. I just have to trust in my staff, communicate with them, and we will be a stronger organization. Teamwork and hard work are required and that is an upside for a strong organization to succeed.