SWOT Analysis of an Assisted Living Company

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SWOT analysis is trusted methodology for evaluating objectives within assisted living businesses.
SWOT analysis is trusted methodology for evaluating objectives within assisted living businesses. (Image: corridor image by les sanders from Fotolia.com)

SWOT is a method for strategic planning that analyzes objectives based on strengths, weaknesses, opportunities and threats (thus the acronym SWOT). SWOT accounts for both internal and external variables, and it may be used to evaluate any system, including an assisted living company.

Identifying Objectives and Industry Factors

SWOT analysis begins with research into the assisted living industry as it relates to possible business objectives. This includes competitive data for the assisted living industry, as well as a full understanding of the company's structure and status.

Strengths

Strengths include all internal attributes of the company (system or organization) that may positively affect the identified objective. Depending on the objective, any given internal attribute may be either positive or negative. Factors may include marketing mix, personnel, manufacturing capabilities and management. Any internal variable that could impact strategy should be included, too.

Weaknesses

Weaknesses include all internal attributes of the company that may adversely affect the identified objective. Depending on the objective, any particular internal attribute may be either positive or negative. These factors also may include marketing mix, personnel, manufacturing capabilities and management. Any internal variable that may impact strategy must be included.

Opportunities

Opportunities include all external conditions that may positively affect the identified objective. Depending on the objective, any given external factor may be either positive or negative. Factors may include industry economics, technology, legislation and social conditions. Include any internal variable that could impact strategy.

Threats

Threats include all external conditions that may adversely affect the identified objective. Any particular external factor may be either positive or negative, depending on the objective. Industry economics, technology, legislation and social conditions are all possible factors. Any external variable that may impact strategy must be included.

Analyzing All Four SWOT Factors

Research is plotted on a SWOT matrix with Strengths/Weaknesses on the horizontal axis and Opportunities/Threats on the vertical axis. This results in four quadrants that indicate areas to be offensive, areas to be defensive, areas for adjustment and areas where the company is in severe trouble.

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References

  • "The SWOT Analysis: Using your Strength to Overcome Weaknesses, Using Opportunities to Overcome Threats;" Lawrence G. Fine; 2009
  • "Strategic Management and Business Analysis;" David Williamson, Peter Cooke, Wyn Jenkins and Keith Michael Moreton; 2003
  • "SWOT Analysis I: Looking Outside for Threats and Opportunities;" Harvard Business School Press; 2009
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