Bus501 Strategic Management : About Assessment Answers

Columbus Regional Hospital Organization Strategies

Strategic management is an important activity that should be undertaken by every Health Service Organization. It can help in properly analyzing the internal and external environment of the organization before coming up with a brilliant idea to effectively respond to the situation and propel the organization to the next level. Columbus Regional Hospital is one of the organizations that have been engaged in strategic management. Since its establishment, the facility has been committed to delivering exceptional and satisfactory healthcare services in Indiana State thanks to its novel strategic assessment and management initiatives (Mithas & Rust, 2016).

Columbus Regional Hospital is not the only Health Service Organization in Indianapolis. There are so many organizations offering complimentary and supplementary services just like. Some of them include established facilities such as Indiana University Hospital, Indianapolis Eye Care Center, St. Vincent Seton Specialty Hospital, Sidney and Lois Eskenazi Hospital, Richard L. Roudebush VA Medical Center, Riley Hospital for Children, Methodist Hospital, St. Vincent Heart Center of Indiana, Peyton Manning Children's Hospital, and St. Vincent Women's Hospital. It therefore means that the management of the facility has to be very serious with the management of the facility, lest it succumb to the stiff competition that exists.

The hospital has been engaging in a number of strategic management initiatives. First, the organization has been focusing on the quality of its services. To do this, the management has been concerned about quality productivity because it is the considered as the most important thing to do (Ward & Peppard, 2016). The management has been doing this by hiring well-trained and experienced personnel. It has also been encouraging a cordial relationship between its workforce and clients by encouraging the staff to deliver diverse services that are responsive to the needs of all its clients. Secondly, the hospital has been engaged in the strategic management of its finances. In order to be sustainable and profitable, the management has been engaging in job cuts. A number of employees have been laid-off in the recent past. It has been done to help in minimizing its budget. Lastly, the hospital has made strategic changes in its structural organization. Since it expanded its services, the facility has shifted from the divisional to the traditional bureaucratic structure.

The management of Columbus Regional Hospital has been carrying out the strategic initiatives after making a lot of considerations. The management acknowledged that strategic management is not a simple task that should just be executed without a proper plan. It is a sophisticated activity that should be properly calculated and wisely done. Otherwise it cannot yield any fruits as expected. In this regard, the management has been making lots of considerations in its internal and external environment. The factors so far considered during the strategic management initiatives include legal factors, political factors, economic factors, and competition. These factors should be considered because strategic decisions are made in different contexts. Each of these plays a significant role in determining the progress of the facility. On the other hand, the internal factors considered are profitability, expenditure, income, human resources, assets, and technology (McClellan, et al., 2014). The designing of a strategic plan in consideration to these factors has enabled the facility to prosper.

Proposed Strategic Management Initiatives for the Hospital

If given a mandate to serve as the CEO of Columbus Regional Hospital, I would do my best to come up with strategic plans to help in addressing identified challenges and enable the organization to accomplish its short and long-term goals. When doing this, I will have to be properly organized. The first thing I will do is to carry out a strategic assessment (Kim, Lee, Chun & Benbasat, 2014). Here, I will organize my team to evaluate the existing situation so as to ascertain the strengths, weaknesses, opportunities and threats. To do this, I will have to consider many factors like competition, management, employee satisfaction, client satisfaction, revenue allocation, partnership with stakeholders, reputation of the facility, and quality of service delivery (Frederickson & Ghere, 2013). It is important to do because having knowledge on these aspects will enable me to know exactly what to do to realize the objectives of strategic management.

After making all these considerations and identifying the existing loopholes, I would opt to improve the management strategy by altering the organizational structure from functional to divisional. The hospital has become challenging to manage because of its expansive size that has become unmanageable by centralizing all the activities. I will therefore propose that the organization should be sub-divided into different sections each of which dealing with a particular specialty. At the same time, each of these divisions would be properly managed, coordinated, and controlled to ensure that they acquire all the required resources, manage and utilize them well for the overall benefit of the organization (Carraher & Paridon, 2015). It will ensure that Columbus Regional Hospital becomes the best HSO in the entire Indiana State.

References

 Carraher, S.M. & Paridon, T.J. (2015). Entrepreneurship journal rankings across the discipline.

Journal of Small Business Strategy, 19(2), pp.89-98.

Frederickson, H.G. & Ghere, R.K. (2013). Ethics in public management, ME Sharpe: New York.

Kim, T.H., Lee, J.N., Chun, J.U. & Benbasat, I. (2014). Understanding the effect of knowledge

management strategies on knowledge management performance: A contingency perspective. Information & management, 51(4), pp.398-416.

McClellan, M., et al. (2014). Accountable care around the world: a framework to guide reform

strategies. Health Affairs, 33(9), pp.1507-1515.

Mithas, S., & Rust, R. T. (2016). “How information technology strategy and investments

influence firm performance: conjectures and empirical evidence.”Mis Quarterly, 40(1), 223-245.

Ward, J., & Peppard, J. (2016). The Strategic Management of Information Systems: Building a

Digital Strategy. New York: John Wiley & Sons.