strategic management for KPJ Penang

Topics: Strategic management, Marketing, Management Pages: 16 (8063 words) Published: October 30, 2014

FINAL ASSIGNMENT
Select a Hospital of your choice and perform the following strategic management evaluations: Review its Vision & Mission Statements
Perform External Audit
Perform Internal Audit
Conduct the SWOT analysis
Sort various products/divisions of selected organization in BCG matrix. REPORT
KPJ PENANG SPECIALIST HOSPITAL.
Introduction
KPJ Healthcare Berhad (KPJ) is one of the leading private healthcare providers in the region with a network of 21 hospitals in Malaysia and 2 in Indonesia. With more than 2,600 licensed beds, KPJ hospitals offer a comprehensive range of medical services. KPJ portfolio includes hospital management, healthcare technical services, hospital development and commissioning, nursing, health sciences and continuous professional healthcare education, pathology services, central procurement and retail pharmacy. KPJ embarked on many initiatives to improve the Quality of Care to customers including the certification of Malaysian Society for Quality in Health (MSQH). Vision

The Preferred Healthcare Provider
Mission
Deliver Quality Healthcare Services
Core values of:
Ensuring SAFETY
Delivering service with COURTESY
Performing duties with INTEGRITY
Exercising PROFESSIONALISM at all times
Striving for CONTINUOUS IMPROVEMENT
1.Review of company’s vision and mission
The following table shows the main differences between the two statements. Vision Mission
Purpose Tells what an organization aims to achieve. States what a company is currently doing. Answers the question What do we want to become? What is our business? Includes Objectives
Values
Customers
Products/Services
Markets
Technology
Concern for survival
Philosophy
Self-Concept
Concern for public image
Concern for employees
Future or present time Talks about the future Talks about the present To whom it is developed? Employees of the company Employees, customers, suppliers, distributors, partners and communities Which one is created first? Developed first Developed only when vision is available How often does it change? Rarely changes because most of objectives takes years to achieve Product-oriented missions change every time when a company decides to venture into new product market. 1.1 Vision statement

Describe company's long-term goals and aspirations clearly and concisely. If a planned course of action doesn't move the company toward its vision, it may need to be revised. 1.1.1 Importance of a vision

Motivates and inspires employees
Provides one purpose to work for
Sets the stretch goals (goals that are impossible to achieve with current resources and capabilities) Guides managers in effectively allocating resources
1.2 Mission statement
Defines the business sector in which a company operates and sets out its key purpose. It summarizes what the company does and why. According to Peter Drucker, often called the father of modern management, a mission is the primary guidance in creating plans, strategies or making daily decisions. 1.2.1 Importance of a mission

Informs organization’s stakeholders about its plans and goals; Unifies employees’ efforts in pursuing company goals;
Serves as an effective public relations tool;
Provides basis for allocating resources;
Guides strategic or daily decision making;
Shows that a company is proactive.
1.2.2 Effective mission statement consists of 9 components:
Customers. Who are your customers? How do you benefit them? Products or services. What are the main products or services that you offer? Their uniqueness? Markets. In which geographical markets do you operate?

Technology. What is the firm’s basic technology?
Concern for survival. Is the firm committed to growth and financial soundness? Philosophy. What are the basic beliefs, values and philosophies that guide an organization? Self-concept. What are the firm’s strengths, competencies or competitive advantages?Concern for public image. Is the firm socially responsible and environmentally friendly?...

References: David, F.R. (2009). Strategic Management: Concepts and Cases. 12th ed. FT Prentice Hall, p. 83-94
Williams, L.S. (2008). The Mission Statement. A Corporate Reporting Tool with a Past, Present, and Future. Journal of Business Communication Vol. 45, (2), pp. 94-119
King, D.L., Case, C.J., Premo P.M. (2010). Current Mission Statement Emphasis: Be Ethical and Go Global. Academy of Strategic Management Journal Vol. 9 (2), pp. 71-87
JP Morgan, 2012, KPJ Berhad Investor Relations [Online PDF]Available at: kpj.listedcompany.com/misc/analyst/KPJ_JPMorgan_20120116.pdfStandard Charted Analyst, 2012, KPJ Berhad Investor Relations [Online PDF]Available at: kpj.listedcompany.com/misc/analyst/KPJ_StandardCh_30062011.pdfKotler, P. (1994) Marketing Management – Analysis, Planning, Implementation and Control, 8th Edn, New Jersey: Prentice-Hall.
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