HCM481 Colorado State Mod 2 SWOT and PEST Analysis in Healthcare Paper

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HCM481

Colorado State University Global Campus

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For this assignment you will compare and contrast, as well as assess the usefulness of SWOT and PEST analyses, which are frequently used by healthcare organizations in their strategic planning efforts. Your paper is expected to briefly describe each tool and explain how each is used in formulating strategy. In addition, you must describe the strengths, limitations, and challenges of each.

The paper should be well-written and meet the following requirements:

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HCM481 Mod 2 CT HCM481 Mod 2 CT Criteria This criterion is linked to a Learning Outcome Requirements This criterion is linked to a Learning Outcome Content Ratings 15.0 to >12.0 pts Meets Expectation Includes all of the required components, as specified in the assignment. 12.0 to >9.0 pts Approaches Expectation Includes most of the required components, as specified in the assignment. 25.0 to >20.0 pts Meets Expectation Demonstrates strong or adequate knowledge of the materials; correctly represents knowledge from the readings and sources. Pts 9.0 to >6.0 pts Below Expectation Includes some of the required components, as specified in the assignment. 20.0 to >15.0 pts Approaches Expectation Some significant but not major errors or omissions in demonstration of knowledge. 6.0 to >0 pts Limited Evidence Includes few of the required components, as specified in the assignment. 15.0 to >10.0 pts Below Expectation Major errors or omissions in demonstration of knowledge. 10.0 to >0 pts Limited Evidence Fails to demonstrate knowledge of the materials. 15.0 pts 25.0 pts HCM481 Mod 2 CT Criteria This criterion is linked to a Learning Outcome Critical Analysis This criterion is linked to a Learning Outcome Demonstrates proper use of APA style Total Points: 75.0 PreviousNext Ratings 25.0 to >20.0 pts Meets Expectation Provides a strong critical analysis and interpretation of the information given. 20.0 to >15.0 pts Approaches Expectation Some significant but not major errors or omissions in analysis and interpretation. 10.0 to >8.0 pts Meets Expectation Project contains proper APA formatting, according to the CSU-Global Guide to Writing and APA, with no more than one significant error. 8.0 to >6.0 pts Approaches Expectation Few errors in APA formatting, according to the CSU-Global Guide to Writing and APA, with no more than two to three significant errors. 15.0 to >10.0 pts Below Expectation Major errors or omissions in analysis and interpretation. 6.0 to >4.0 pts Below Expectation Significant errors in APA formatting, according to the CSU-Global Guide to Writing and APA, with four to five significant errors. Pts 10.0 to >0 pts Limited Evidence Fails to provide critical analysis and interpretation of the information given. 25.0 pts 4.0 to >0 pts Limited Evidence Numerous errors in APA formatting, according to the CSU-Global Guide to Writing and APA, with more than five significant errors. 10.0 pts
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Running head: PEST & SWOT ANALYSIS IN HEALTHCARE

SWOT and PEST Analysis
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PEST & SWOT ANALYSIS IN HEALTHCARE
PEST & SWOT Analysis in Healthcare
Healthcare analysis requires both PEST and SWOT tools. Healthcare organizations
which are in the middle of strategic planning should consider using PEST analysis. The reason
for this is that the best strategies which position an organization for the best chance of success
for a specific period get developed for the most part depending on the external factors where an
organization operates (Ginter et al., 2018). PEST analysis refers to the framework where the
healthcare organizations apply in analyzing events as well as trends in the 4 aspects, which
significantly impact performance. These areas are the "Political, Economic, Sociocultural, and
Technological factors." This tool's other variation, which involves additional insights, includes
the Environmental and legal factors. Notably, healthcare organizations consider PEST analysis
as a vital tool for strategic planning. Additionally, the SWOT analysis also accompanies it.
SWOT assesses the internal factors related to the performance of an organization.
Primarily, the healthcare industry relies on the evaluation of existing and also incoming
legislation, advances in technology, changes in the society, and economy. One of the crucial
elements is political stability. It is a critical aspect since any change in governments directly
impacts healthcare as well as people generally. Healthcare industry is increasingly growing in
any nation’s economic system (Ginter et al., 2018). This industry needs to understand the
external factors affecting it. PEST analysis of the healthcare organizations gives informed
knowledge on the existing and future changes in the “political, economic, social, and
technological factors” which impact the industry. One of the components of the PEST
framework is political factors. It affects the healthcare organizations and their impact in the...

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