StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Strategic management - Article Example

Cite this document
Summary
1) One of the key elements of the general environment within which RRMC operated was the clear distinction between the urban and nonurban markets. This provided clearly established niches to be served by different players in the market however; the overall degree of competition is relatively high…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.4% of users find it useful
Strategic management
Read Text Preview

Extract of sample "Strategic management"

Download file to see previous pages

This presence can further intensify the competition as more and more niches within the market are developed. There can be opportunities specially in terms of offering comprehensive services under one roof because most of the players are focused on providing specialist services and are not clearly focused on universal medical services under one roof. 2) Due to lack of more sophisticated hospitals in non-urban areas, the overall bargaining power of consumers may be low. However, due to overall size of the healthcare suppliers, there is relatively higher bargaining power available to suppliers i.e. physicians, medical professionals, healthcare supplies etc.

The fact that RRMC was not able to procure some of the supplies required for essential procedures therefore outline that due to demand and supply dynamics of medical supplies suppliers, they are yielding more power. The overall competitiveness and the lower concentration of high quality services providers in the non-urban areas therefore make it relatively more lucrative for new players to enter into the market. The chances for the substitute products to dominate the market are relatively low because alternative medicine is not common yet and therefore may not take place of the traditional services offered.

The overall rivalry in the industry therefore is relatively high due to the fact that more and more players may enter into the market and serving different niches of the market. 3) One of the key competitive advantages of RRMC is its ability to offer different services under one roof. Started as an acute services provider, RRMC developed itself into a larger healthcare services provider by including innovative services such as heartburn treatment center, chest pain treatment, and diagnostic services along with other general services.

This therefore can serve as one of the key competitive advantages for RRMC and can distinguish it from other players in the market which are mostly focused on providing selective services. This competitive advantage could be sustainable if RRMC is able to continuously upgrade its operations and bring in more innovativeness in its operations. An expanded base of services coupled with latest technology therefore can surely help RRMC to maintain its competitive advantage and sustain it for longer period of time. 4) A closer analysis of the facts provided in the case study suggests that RRMC’s inbound logistics may have minimum impact on its competitiveness.

However, the operations of the hospital are really critical and are probably the major source through which it generates its competitive advantage. The network of different departments and services including outpatient departments therefore can serve as the outbound logistics of the firm. Outbound logistics of the firm coupled with operations of the firm work in tandem to offer RRMC a unique advantage in the market. The use of membership incentives through MedKey program can also serve as one of the key sources for competitive advantage of the firm.

Through this, hospital has been able to achieve both the retail i.e. individual as well as local businesses as customers and offered them bundled services. The use of internet for the purpose of market can also be considered as key part of the overall marketing campaign of the hospital to maintain its competitive advantage. Since the essential nature of the hospital is to provide healthcare servic

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Strategic management Article Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from https://studentshare.org/management/1429259-strategic-management
(Strategic Management Article Example | Topics and Well Written Essays - 750 Words)
https://studentshare.org/management/1429259-strategic-management.
“Strategic Management Article Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/management/1429259-strategic-management.
  • Cited: 0 times

CHECK THESE SAMPLES OF Strategic management

Strategic Management and Critical Challenges in Crisis Management

strategic management INTRODUCTION The contemporary business environment has become highly dynamic and uncertain.... strategic management in crisis situations, also referred as crisis management in organizational contexts, is the art of designing as well as executing plans to mitigate the obstacles witnessed in particular circumstances towards the ultimate achievement of organizational goals.... The aim of the strategic management in such needful situations is to enhance the organizational capacity in responding to the crisis and make strategic plans to effectively overcome from the identified obstacles (European Interagency Security Forum, “Crisis Management of Critical Incidents”)....
15 Pages (3750 words) Essay

Strategic Management - The Planned and Incremental Approaches

This is where strategic management play a vital role in the organisation's survival.... The Positioning of the organisation through strategy, responding to real time issues through strategic management and managing the resistance offered by the competitors through systematic planning are some of the broader aims of strategic management (Ayanda, M.... There are a few key attributes that strategic management addresses.... Some theorist do believe that the traditional approach is the standard approach to strategic management however it can no longer cope up with the complexities of the new demands (Dess, et....
8 Pages (2000 words) Essay

The Intended and Emergent Approach to Strategic Management

However, the context is seen to be a valid prescription for success in strategic management.... The article is important as it illustrates the factors that result to variation in strategic management, and it also attempts to give the valid prescriptions for success.... The article is important in relation to strategic management, as it depicts the controversial theories associated with strategic management.... It also gives the different approaches to strategic management....
3 Pages (750 words) Coursework

Qatar Strategic Management

The main aim of this paper is to find out whether the supreme education council in Qatar is employing the strategic management strategy in its operations the way the public sector in UAE is implementing it.... According to remarks given by Qatar secretary general on a launch of a… The secretary general stated that Qatar's education sector was now ready to enter into a strategic partnership so that the institution strategic management The main aim of this paper is to find out whether the supreme education council in Qatar is employing the strategic management strategy in its operations the way the public sector in UAE is implementing it....
1 Pages (250 words) Essay

Strategic School of Thoughts by Henry Mintzberg

First of all, it is vital to know the meaning of strategic management theory.... The book Strategy Safari by Joseph Lampel, Bruce Hlstrand and Henry Mintzberg provides a perfect overview on the field of business and academic educations of strategic approach.... Previously, Henry Mintzberg was renowned for development of strategic Configuration School and advocacy of Emergent Tactic.... Henry Mintzberg claimed that human beings are not capable enough to comprehend, analyze and understand the job of strategic assessments....
8 Pages (2000 words) Coursework

Theories and Practice of Strategic Management

strategic management Journal 36 published this year strategic management There are various articles on strategic management.... strategic management Journal 36 published this year is an example of such an article with rich knowledge of strategic management and its application in contemporary business societies.... he article looks at various issues concerning strategic management at various organizations....
1 Pages (250 words) Article

Aims, Concepts, and Role of Strategic Planning

The study "strategic management" makes a critical evaluation regarding strategic planning within an organization concentrating on a few major functions like a specific division or department, focusing on a better roadmap for guiding the organization.... Strategic planning along with strategic control constitutes strategic management.... nbsp;… strategic planning evolved during the 1960s and was widely accepted by most corporate leaders....
8 Pages (2000 words) Coursework

Strategic Management Techniques in the Public Sector

… 343300 - Strategic ManagementStrategic Management Techniques in the Public SectorWhat is strategic management?... trategic management, on the other hand, is the larger, more holistic process that encompasses the planning, implementation, evaluation, and 343300 - Strategic ManagementStrategic Management Techniques in the Public SectorWhat is strategic management?... While strategic planning is the “cornerstone” of the strategic management process,(Vinzant and Vinzant, 1996) strategic management is the overarching process of managing large scale, sometimes very fundamental change in order to assure a high level of performance in the long run (Poister, 2005)....
8 Pages (2000 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us