Strategic Planning Tools

Only available on StudyMode
  • Download(s) : 103
  • Published : April 15, 2013
Open Document
Text Preview
Strategic Planning Tools
Nina Brown
Healthcare Administration/HCM640/Unit 2
Christopher Miller
March 17, 2013

Strategic Planning Tools
The soaring instability of the current markets has warned the healthcare organizations to the need to focus on risks inherent in the investing in the stock market. One can presume that some organizations after experiencing major crisis with their market have developed to be more risk-reluctant than in the previous years and want to take fewer risks with the businesses. However, the old perception of risk-return transaction come to life in the portfolio concept continues to be important and will influence organization outcomes and decision-making. The main undertaking in strategic planning is implementing the right tool for the business in this case it is a portfolio analysis. This tool is utilized by a management team to distinguish and appraise the different division, product, or individual brand depending on the type of dealings being conducted. The central goal is that the healthcare businesses, remains realistic by seeking the highest earnings with the lowest potential threat. Established in 1970 a portfolio analysis looks at and distinguishes between the different adjusted strategies for a business. This analysis takes an environmental method to looking at the products and services a healthcare business proposes in provisions of relative market share and market growth cost. When determining the relative market-share for a company it is very important to look at the business’s leading opponent as well as the others opponents in the marketplace. As with the market-growth rate it is known through the service being researched is increasing. This paper will outline a hospital portfolio by classifying eight or more products or services provided and grouping each one into four different groups like cash cows, stars, problem children and dogs explaining each grouping. Background of University Health Care...
tracking img