Why use SWOT analysis?
By Cristy Good, MGMA staff member
A SWOT (strengths, weaknesses, opportunities and threats) analysis can be used as part of business planning; market analysis; project management; organizational change; individual development, such as a career change or evaluation; or any situation requiring strategic planning to reach an objective.
A simple SWOT analysis can be helpful for any size of practice to consider both internal and external factors and take an honest look at which strategies or operations need to change.
While you can create a SWOT analysis using a list format, it is common for these categories to be represented in a 2x2 matrix.