Managing Health Care Business Strategy / Edition 1

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Managing Health Care Business Strategy is the definitive textbook on strategic planning and management in health care. Using practical, action-focused language and real-life examples in the form of case studies, the reader will learn the well-established, widely-practiced principles of strategic management within the unique context of healthcare organizations.


Thoroughly covers the basic multi-step process of creating and then managing a strategic plan.

Takes a detailed look at the role played by the key business functions (finance, marketing, human resources, information technology, and law) as well as specific strategic options (merger/acquisition, reorganization, joint venture) and some of the popular tools for analyzing strategic situations (balances scorecard, Six Sigma, SWOT).

Explores important concepts developed by organizations such as the Boston Consulting Group and experts including Harvard Business School professor Michael Porter to give the reader the vocabulary to communicate with key decision makers.

This is an ideal text for those pursuing a career in health care in undergraduate, business, and medical schools, as well as ancillary health professions such as nursing or physician assistant. Established healthcare professionals, including doctors who are completing programs in business administration, will also find text to be extremely valuable in preparation for greater involvement in the management of healthcare delivery.

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Product Details

  • ISBN-13: 9780763734169
  • Publisher: Jones & Bartlett Learning
  • Publication date: 5/1/2008
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 344
  • Sales rank: 361,050
  • Product dimensions: 6.10 (w) x 9.10 (h) x 0.70 (d)

Table of Contents

About the Author xi

Preface xiii

Chapter 1 Basic Strategy Concepts 1

Learning Objectives 1

Definition of the Concept of "Strategy" 2

Purpose of Strategic Management 5

Levels of Strategy 8

Strategic Thinking or Strategic Mindset 11

Incremental Versus Revolutionary Strategy 13

Intended Versus Actual Strategy 13

Strategic Planning and Management Process 15

Strategic Direction 16

How Organizations Benefit from Practicing Strategic Planning and Management 18

How Strategic Management Goes Wrong 19

Barriers to Strategic Management 22

Focus on the Healthcare and Biotechnology Industries 25

Environmental Forces That Affect Strategy-Making in the Healthcare and Biotechnology Industries 26

Study Questions 28

Learning Exercise 1 29

Learning Exercise 2 29

References 30

Chapter 2 Internal Audit of Strategic Assets: Resources and Competencies 31

Learning Objectives 31

Analysis of Historical Financial Performance and Current Financial Condition 32

Resources and Competencies 39

Breakdown and Evaluation of the Internal Value Chain 44

Study Questions 50

Learning Exercise 50

Notes 51

References 51

Chapter 3 External Environmental Assessment: Law, Economics, Demographics, Technology 53

Learning Objectives 53

Strategic Benefits of a General External Environmental Assessment 55

Difficulties in Conducting a General External Environmental Assessment 55

Step-by-Step Process for Assessing the General External Environment 56

Basic Categories of External Environmental Factors and Forces in Health Care and Biotechnology 58

Interdependencies Among External Environmental Factors 69

Information Sources for External Environment Assessment 70

Tools and Techniques for Analyzing and Monitoring the External Environment 71

What to Do with the Information on the External Environment 71

Study Questions 72

Learning Exercise 72

Notes 73

References 73

Chapter 4 External Environmental Assessment: Market and Customers 75

Learning Objectives 75

Analyzing the Market and Its Segments 76

Analyzing the Customer 87

Planning Strategy to Meet Customer Needs in a Targeted Segment 93

Study Questions 94

Learning Exercise 95

References 95

Chapter 5 External Environmental Assessment: Industry and Competitors 97

Learning Objectives 97

Industry 98

Competitors 114

Study Questions 129

Learning Exercise 1 129

Learning Exercise 2 130

Notes 130

References 130

Chapter 6 Defining Future Direction of the Organization 133

Learning Objectives 133

Responsibility for Defining Strategic Direction 134

Mission 135

Vision 141

Values 143

Strategic Objectives 145

Examples of Real-World Strategic Direction Documents 148

Study Questions 157

Learning Exercise 1 158

Learning Exercise 2 158

Learning Exercise 3 159

Notes 160

References 160

Chapter 7 Formulating Corporate-Level Strategy 163

Learning Objectives 163

Value-Adding Functions of the Corporate Center 164

I Manage the Portfolio of SBUs 164

II Raise Financial Capital for Allocation to the SBUs 189

III Allocate Resources and Services to the SBUs 189

IV Facilitate Synergies Among the SBUs 190

V Choose a Parenting Style for SBU Interactions 191

VI Participate in the SBU Strategic Planning and Management Process 191

VII Oversee and Monitor the Performance of the SBUs 192

VIII Manage the Corporation's Relationships with External Stakeholders 192

How the Corporate Center Can Reduce the Value Created by Its SBUs 192

Study Questions 193

Learning Exercise 1 193

Learning Exercise 2 194

Learning Exercise 3 195

Learning Exercise 4 195

Notes 196

References 196

Chapter 8 Formulating SBU-Level and Functional Area Strategy 199

Learning Objectives 199

Strategic Duties of SBU Management 200

The Role of the Corporate Center in SBU Strategy 203

Formulating Strategy in SBUs and Individual Businesses 204

Selecting a Generic Business Strategy-à la Porter 206

Functional Area Strategies 218

Responding to Competitors' Strategic Moves 221

Study Questions 223

Learning Exercise 1 224

Learning Exercise 2 224

References 224

Chapter 9 Implementing the Strategy 227

Learning Objectives 227

Supportive Resources and Competencies 228

Functional Area Substrategies 233

Decisions and Actions for Implementation 239

Implementation Problems That Need to Be Monitored and Corrected 249

Study Questions 250

Learning Exercise 1 251

Learning Exercise 2 253

References 252

Chapter 10 Monitoring, Fine-Tuning, and Changing the Strategy 253

Learning Objectives 253

What Strategic Monitoring Involves 254

Why Strategic Monitoring Has Become More Important 254

Price of Failure to Notice and Respond to Strategic Change 255

How a Strategic Plan Can Go Wrong in Its Implementation 256

Key Principles of a Strategy Monitoring and Adjustment Program 256

Monitor the Past, Present, and Future 258

Steps in Setting Up a Strategic Monitoring System 259

Strategic Parameters to Be Monitored 261

Changes That Could Be Detected by a Strategic Monitoring System 266

Conclusions That Could Be Reached and Changes That Could Be Made 268

Study Questions 269

Learning Exercise 270

Notes 270

References 270

Chapter 11 Strategic Financial Management 273

Learning Objectives 273

Financing of Capital Investments 274

Maintaining or Improving Organizational Creditworthiness 281

Allocating Capital Funds to Strategic Initiatives 289

Tracking the Financial Performance of New Strategies 295

Common Mistakes in Strategic Financial Management 296

Study Questions 296

Learning Exercise 1 297

Learning Exercise 2 298

References 298

Chapter 12 Strategy in Other Types of Organizations 299

Learning Objectives 299

Benefits of Strategic Planning for NFP Organizations, Government Agencies, and New Ventures 304

NFP Organizations 305

Public/Government Agencies 312

Entrepreneurial Startups/New Ventures 318

Study Questions 324

Learning Exercise 1 325

Learning Exercise 2 325

Learning Exercise 3 326

Notes 326

References 327

Index 329

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