21st Annual SNUG Conference

Earlier this week members of MedCom’s management staff attended the 21^st annual SNUG (Startel National Users Group) Conference. The conference was held in Myrtle Beach, South Carolina at the Sheraton Convention Center Hotel. Some of the main focuses at the conference were networking amongst other answering services, brainstorming ideas to create new products or services and reviewing industry standards to reach the next level of service.

Although attendees of the conference represent their own company, each brings as much information and suggestions to offer guidance to competitive businesses. The concept of management staff from competitive offices sharing ideas and business practices is one that many, specifically those not members of user groups or trade associations, may not realize the benefit. However, the value of collaborating with other members in the industry allows your company to be open to change, continually learning and to expand your business knowledge and resources.

Openly discussing operations and practices allows you analyze your Strengths, Weaknesses, Opportunities, and Threats, commonly referred to as SWOT analysis. This SWOT analysis becomes part of your future strategic planning. It focuses on both internal and external factors. The internal factors are Strengths and Weaknesses. Your company’s Strengths are the aspects of your organization that are helpful in reaching your goal; whereas, Weaknesses are the aspects of your organization that are harmful to reaching your goal. The external factors are Opportunities and Threats. Your company’s Opportunities are the external aspects of your organization that are helpful in reaching your goal; whereas, Threats are the external aspects of your organization that are harmful to reaching your goal. An important note to take is that the SWOT analysis is not the actual planning strategy. SWOT analysis is used as a description of factors that must be considered within a planned strategy.

Listed on Wikipedia are several examples of possible factors included in a SWOT analysis:

Strengths and Weaknesses

• Resources: financial, intellectual, location.
• Cost advantages from proprietary know-how and/or location.
• Creativity (ability to develop new products).
• Valuable intangible assets: intellectual capital.
• Competitive capabilities.
• Effective recruitment of talented individuals.
• Competitive Advantage.
• Brand reputation.
• New product.

Opportunities and Threats

• Expansion or down-sizing of competitors.
• Market trends.
• Economic conditions.
• Expectations of stakeholders.
• Technology.
• Public expectations.
• All other activities or inactivities by competitors.
• Criticisms by outsiders.
• Changes in markets.
• All other environmental conditions.
• Global Influences.

After attending the SNUG Conference, I found that the sharing of business practices and philosophies amongst successful industry leaders is necessary for any company to constantly reevaluate its current holdings and to find new ways to succeed.