Health Care Financial Management - Essay Example

"Health Care Financial Management" is a decent example of a paper on the health system.
SWOT analysis is a reliable tool in an organization since it greatly assists in assessing the strengths, weaknesses, opportunities, and threats of a firm. This provides insight into the most critical aspects that affect the operations of any venture.  Thus, its key objective is to analyze and assign every significant aspect in the organization to each of the four categories and create an opportunity for management to take a meaningful look at the business.

The strength category of this analysis describes the positive characteristics inside the organization. These features are within the manager’s control and outline the firm’s positive position over the competitors; competitive advantage.

The weaknesses category of the analysis entails the factors that affect the smooth running of business operations. They are always within the control of the management and outline the areas that need improvement in the organization.

The opportunities category of the analysis comprises any attractive features that give reasons for the existence and prosperity of the business. Majorly, these factors are external and tend to assess the potential opportunities available in the market.

Lastly, the threat category presents the factors that are beyond the control of the business, and most likely, they might place it at risk. They are formed through undesirable developments that result in deterioration in profits and general revenues.

This article is crucial to our class and general healthcare since SWOT analysis is an extremely crucial tool to the entire health or clinical systems. It provides prompts to nurse mentors, clinical managers, and general staff who are involved in the evaluation of effectiveness in health systems.