Business w/healthcare respond to 2 students dq 250 words and 1 reference each
Respond to each student with 250 words and 1 reference EACH
Hierarchy of Strategic Decisions and Alternatives (Adaptive Strategies, Market Entry Strategies,Competitive Strategies and Implementation Strategies)apply to a health care organization you are familiar with to illustrate each component: the institution’s direction strategies, adaptive strategies, market entry strategies, competitive strategies, and implementation strategies..
Discussion Question Week 4
This week’s discussion is about the Hierarchy of Strategic Decisions and Alternatives, which includes directional strategies, adaptive strategies, market entry strategies, competitive strategies and implementation strategies (Ginter, Duncan & Swayne, 2013). These different strategies will be applied to a health care organization based in Kansas City called Saint Luke’s Health System.
The first part is the directional strategies of Saint Luke’s health system, which consists of the mission, vision, values and goals of the organization (Ginter, Duncan & Swayne, 2013). For Saint Luke’s the mission statement is providing high quality health care and to enhance the Physical, Mental and Spiritual Well being of the community. The vision of Saint Luke’s Health System is “The Best Place to get care. The best place to give care” (About Saint Luke’s Health System, n.d.). This is an important part how organizations develop as without a sense of original direction via mission statement and values statement, the organization could not even get their stratebgy off the ground (Brown & Khokher, 2007-2008).
The next part is adaptive strategies and market entry strategy of the organization is the process of realizing the scope of the organization and then determine if the scope should be expanded, reduced or maintained and the process of doing this through purchase, cooperation and development. For Saint Luke’s this has been an ever present role in the health care industry in the Kansas City metro area. In the 1970’s Saint Luke’s decided to expand the scope of their care and to put a focus on cardiac care and since then have diversified their cardiac care into the Mid America Heart Institute a leading cardiac care center (About Saint Luke’s Health System, n.d.). Also the hospital system has added other hospital facilites with the addition of Saint Luke’s North Hospital in 1989 and have added other new hospitals in 1998 and 2006 (About Saint Luke’s Health System, n.d.). The organization has also purchased existing hospitals starting in 1989 and continuing with the most recent purchase in 2003 (About Saint Luke’s Health System, n.d.).
The next section is the competitive strategies that organizations must consider the strategic posture they would like to take in order to achieve their various adaptive and market entry (Ginter, Duncan & Swayne, 2013). Saint Luke’s is considered to be a prospector in strategic posture. The reason for this is that Saint Luke’s Health system is continuing to develop new procedures and continue to develop better programs that are not only top in the city but also among the top in the nation (About Saint Luke’s Health System, n.d.). Some of the examples include the state of the art cardiac institute and also the Neuroscience institute that it operates that is the nation’s leading stroke reversal program (About Saint Luke’s Health System, n.d.). The reason that Saint Luke’s falls into this particular category is that they tend to adopt a proactive position and this is important in the process of developing state of the art facilities with state of the art providers and this signifies a prospector strategy (Morgan, Strong & Mcguinness, 2003). This also allows Saint Luke’s Health System to implement the strategy that they and their organization sees fit in order to expand on the already top services they provide. Under this model the organization provides exceptional services and is constantly expanding to the surrounding areas, adding to their organization.
Earlier this week we were asked to take a deeper look at a health organization in which we were familiar with and expand on some improvements that could be made to the organizations mission statement, this however is about the organizations competitor, Orlando Health. The mission statement of a company allows it’s stakeholders a glimpse at what the company stands for and can even determine the success of the business. (Williams, 2008) Orlando Health’s mission statement is short and to the point “To improve the health and quality of life of the individuals and communities we serve.” (Orlando Health, n.d.) While most organizations mission statements are drawn out, Orlando Health allows it’s reputation to do the speaking for their directional strategy.
Signs of an effective and successful adaptive strategies included strategic expansion of services and client bases, networking as a means to acquire and stabilize revenue streams and resources, and increased use of business techniques and technology to generate outcome measures and an image of effectiveness with funders. (Alexander, 2000) Orlando Health fits the bill and more. Orlando Health is not only one of the largest and most successful groups in the state but also one of the most involved and expansive. While Orlando Health may not necessarily use fundraisers to assist the community they are the leading donors for Children’s Miracle Network and Council of Teaching Hospitals and Health Systems (COTH). They also make access to their success accessible to the public by allowing anyone to apply on their website for funding and grants for community projects. (Orlando Health, n.d.)
Medicine is an ever changing and developing field in need of new ideas and innovation. In order to remain on the cusp and forefront of innovation, Orlando Health has created a partnership with the University of Florida in creating the UF Health Cancer Center. In doing this, the organization not only creates a relationship with one of the largest Universities and in doing so allows for the advancement of their staff by giving students the opportunity to intern and study under the umbrella of Orlando Health. This quid pro quo style of business benefits both the students giving them experience in the field but also the organization as it allows new ideas and fresh minds on the front line in cancer research.The Group also encourages internship and volunteer programs for individuals in the area and even goes as far as to extend scholarships and grants to those who meet the requirements allowing them to get a foot in the door of the organization.
It is always important for hospitals and medical groups to focus on the services they provide and remain competitive in the field. What sets Orlando Health part is the quality of service and personalized care received by patients. Orlando Health is one of the two leading Hospital Groups in the area (Florida Hospital by Adventist). It spans thirteen facilities (hospitals) as well as a comprehensive list of private care offices. But what allows the group to stand out is its innovation and specialty hospitals. Arnold Palmer’s Children’s Hospital and Willie Palmer Hospital for Women and Babies are a part of the Orlando Health family of hospitals. Winnie Palmer has state of the art care techniques and devoted staff that keep the hospital top in it class. Arnold Palmer was ranked as one of the best Childrens Hospitals for 2015-16 by U.S. News & World Report in seven specialties, the only children’s hospital in Orlando to be named. (Arnold Palmer, n.d.)
If an organization wants to remain as a top name in the industry, they have to have a strong implementation strategy for growth. Orlando Health is a top rated organization and has no plans in slowing down. They are utilizing their large stature and reputation and expanding to wherever they see they are needed. The organization recently released plans to expand further into downtown Orlando with plans for a multi use medical office building allowing new phisitians and other lines of medical work the opportunity to grow under the Orlando Health Umbrella. The group is always expanding, not only in its physical size and location, but also in its impact on the community. They are always looking for new and willing minds to help shape the future of medicine. It is the implementation of all of these factors that contribute to the success of this organization.