We can apply concepts from various models, such as SWOT, SPACE, PEST/PESTLE, Porter’s Five Forces, the BCG Portfolio matrix, etc. Understanding the basic economic concepts that such models are based on is also important. All models and frameworks have strengths and limitations. This is especially true in healthcare where the usual “rules” of economics do not apply as “cleanly” as in other industries. Answer the following question: What are some of the limitations and challenges of using the SWOT model in the healthcare industry?
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