HCM640: Week 2 Discussion

Cardiology Practice in the US - SWOT Analysis



Cardiology Practice in the US - SWOT Analysis

Objective

The aim of this paper is to analyze the components involved in strategic planning (Strengths, Weaknesses, Opportunities, and Threats) for a cardiology practice in the U.S. As such the paper would aim to provide examples for each of the SWOT categories for the cardiology practice SWOT analysis. An explanation would be provided for placing the characteristics in their respective categories, and lastly advice would be given to facilitate better analyses the results of the SWOT analysis.

Discussion

Any business is evaluated with regards to its strategic management after paying due consideration to the environment the business operates under. The analysis of the company strategically, requires a stringent focus on both the company's internal and external environment. Further the strategic management is the process through which any business or organization aim to achieve its mission and vision (Hill & Jones, 2007).

The strategies of a firm take a great influence from its prior experiences and the strategies are usually shaped through an evaluative process of experimentation and refinement, based on learning and feedback (Swayne et.al, 2012). One of the important aspects of strategic management is that the management controls the organization. The concept of management control describes the procedure through which a firm affirms control of their employees and the different departments to function in the way the management wants in order to achieve the organizational objectives.

Cardiology practices in the US aim to provide specialized cardiology services of a standardized quality. This is accomplished through use of latest technologies for diagnosis and treatment of cardiovascular ailments. Cardiology based practices are run efficiently by managing a dedicated team of healthcare providers including support staff such as nurses etc. Further patients are monitored by a list of specialized ...