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SWOT Analysis
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Location of Factor
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Type of Factor
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Favorable
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Unfavorable
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Internal
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Strengths
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Weaknesses
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Highlights on the
quality of services rendered which develops good image of the company to the
client
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there is a variation
in the intensity of care administered to the patients in the clinic
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Focuses on research
and innovation that helps in quick discoveries of new treatment and
preventive measures.
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The Mayo clinic has a
poor ambulance care system
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The clinic has a well
developed organizational time schedule that allows it to maximize on the
quality of services offered to the customers
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The Mayo clinic
employs people from different backgrounds that creates a high cultural
variation that It reduces the teamwork and can cause conflict if a diversity
synergy is not employed
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The clinic has an up
to date recording system that makes referencing easier for doctors and nurses
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The clinic has
advanced technology that allows it to provide quality and accurate services
to the clients. It also makes work easier for the staff of the organization
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External
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Opportunities
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Threats
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Mayo Clinic care
network helps it to associate with other hospitals and broaden its scope
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Salary based
compensation of the system may increase the fixed cost of the hospital
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Mayo Clinic has broad
exposure which increases the market penetration for its services.
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There is a limited
number of qualified medical practitioners in the United States
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Mayo clinic's research
and innovations institutions also broaden its scope of growth
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The Mayo clinic
research department faces criticism on researchers and innovation by
competitors and other authority officials
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Heightened cost caused
by an increase in the number of practitioners who might demand reimbursement
for input, call and other activities in the future
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Limited funds may
stagnant the current research done by the organization
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Report
An
environmental analysis is an objective
review that evaluates the possible effects
of exterior influence and state on an institution's
survival and growth strategies. The environmental analysis helps in policy development
by keeping decision- makers within an organization informed on the external
environment (Leidecker& Bruno, 1984). The environmental analysis helps you understand
the details of your operations. You can identify key trends
and environmental factors
that affect your organization
and create new
strategies through the implications and if
necessary plan a course of action (Bryson, J. M. 1988).
The environmental analysis also helps you
survey external stakeholders such as clients and
funders among others about your organization (Leidecker& Bruno, 1984).
External outlooks on issues such as the
organization's greatest contribution challenge observed and anticipated
opportunities can result in
breakthrough ideas (Leidecker& Bruno, 1984). Environment analysis helps an organization to assess the level of an organization's internal environment that might affect the management of the organization (Fleisher& Bensoussan, 2007).
The fields assessed
include marketing, finance and accounting, planning and organizing among others.
Business competition is a vital tool for the
growth of any organization in the world today. The
challenges it gives remain dynamic,
creating uncertainty and doubt in business
that successfully positions the enterprise. Competitive
analysis adds value to decision- making as it encourages
organizations to generate
efficiently, capture, disseminate
and apply knowledge
faster than their competitors (Bryson, J. M. 1988).
Competitive analysis provides insights, knowledge and high-value strategic decision support capability in contemporary enterprises. It helps the company
preserve its competitiveness and
provide early warnings of market changes. Competitive analysis helps organizations
find effective ways to build flexibility
into their collection as such
can ensure that the company remains
in front of the competition without wasting scarce resources. Competitive analysis also allows organizations
to determine when to make associations and collaborations with other
enterprises to overcome commonly
experienced constraints.
There are many
factors affecting a strategic plan for
an organization. Among these factors are the evolving economic issues. The
management of a corporation
is accountable for the capital budgeting process (Abell,
D. F. 1980). Some of the economic factors
include unstable cash flow in the
company. A business with an unstable cash flow may not have funds needed
to execute the strategies. It mainly
because the managers focus on solving short-term financial challenges they ignore
the strategic planning (Abell,
D. F. 1980). Another economic factor is the depth service
being too high
as some of the companies that lease money find themselves in problems when the
revenue does not grow as anticipated (Fleisher& Bensoussan, 2003).
Other economic factors that affect the strategic plan
include the small or declining
gross margin, persistent losses. A small business
can experience situations when the costs
of doing business are rising and pressuring
the company’s gross margin (Fleisher& Bensoussan, 2003).
Continuous loss of money in an organization indicates problems in the strategic plan
as such the owner needs to draft strategies
to prompt growth of revenue. Many businesses
regulatory policies increase shape and
structure and conduct of industries and set major
shifts in the economic value (Abell, D. F. 1980).
The major regulatory strategies include those affecting
capital expenditure decisions, corporate image, and risk management.
Legal issues are among the common elements
of the external environment
(Bryson, J. M. 2011). One of the most intimidating issues in an
organization is to determine the legality of an issue (Fleisher&
Bensoussan, 2007). Taxation is
one of the most obvious evolutionary factors
that might affect a strategic
plan. At times, taxations changes occur overnight with little warning. At times, there is plenty of time to prepare (Bryson, J. M. 2011).
Other legal factors that affect the strategic plan
include workplace health and safety, industrial
relations consumer protection, and environmental law (Bryson,
J. M. 2011). A company facing or
is about to face legal action in the future
has difficulty setting a strategic plan because
of the doubt that a lawsuit creates.
Legal factors also affect the
economic strategy of the company (Fleisher& Bensoussan, 2007).
Mayo’s clinic
mission requires that the organization
inspires hope and contributes to health and well-being
by producing the best care to every
patient through incorporated
clinical procedures, education,
and research. Based on the strength weakness
opportunity and threat analysis done
in the organization I believe that it
has the capacity to achieve this objective.
Mayo Clinic focuses on providing
quality services to the clients and
in the process has come up with effective measures that enable it to do so.
It is clear that through improved technological
approaches such as creating a good record
system for referencing of doctors. The clinic
loses its grip on the services provided
to the clients because of its size. The Mayo clinic’s vision demands that
it will provide an unparalleled experience as the most trusted
partner for health care. When
I weigh the potential opportunities and the underlying threats, I discovered that the corporation
is not moving towards achieving
its vision. Even though the clinic
can diversify and grow in the research
industry, there are limitations
in the form of threats that will prevent this from happening. One such limitation is the lack of funds
to support growth or the addition
of new institutions. Currently, one of the major focuses of the
organization should be to reduce
expenses and to find alternatives for increasing the
revenue of the organization.
Based on the
analysis done above I generated a three (3) year strategic plan to help the institution
achieve the objectives, vision, and mission.
During the first year, the
institution should focus
increasing revenue and cut costs
so that it
can finance other projects. This will include cutting off the unnecessary
structures and systems. The company
will channel some of the revenue to boost
production of new products and improvement
of the old products
after removing the unnecessary structures and systems.
The company will also focus on improving the current services
provided in the clinic especially in the weak areas.
The company will come up with a visibility study where it
will assess the hospital with the best ambulance care
system. It will then apply some
of the tactics in order to improve the ambulance
services provided.
The company will carry out an internal organization followed by revision of the time schedule
and records. It will ensure that
all the clients will get equal and
quality care from the
practitioners. The company
will assess the performance through customer based questionnaires.
The second year of the
strategic plan will focus on the growth
and diversifying of the Mayo’s clinic. It will expand the
clinics capacity to produce new affordable quality products to clients. It requires
the organization to invest in creating new products that are cost effective
to the consumer to ensure that their loyalty.
The company will also apply strategies to restructure and improve the
existing non-selling products
to increase their sale of these products.
The third year will focus
on increasing the scope of the market
by globalizing the clinic. It also aims
at acquiring practitioners who
are limited in the United
States. In this fiscal year, the clinic
seeks to expand its revenue and base
of research to increase the number of employees
and to offer quality medical services
worldwide.
References
Abell, D.
F. (1980). Defining the business: the starting point of strategic planning
(pp. 3-26). Englewood Cliffs, NJ: Prentice-Hall.
Bryson, J.
M. (1988). A strategic planning process for public and non-profit
organizations. Long range planning, 21(1), 73-81.
Bryson, J.
M. (2011). Strategic planning for public and nonprofit organizations: A
guide to strengthening and sustaining organizational achievement (Vol. 1).
John Wiley & Sons.
Fleisher,
C. S., & Bensoussan, B. E. (2003). Strategic and competitive analysis:
methods and techniques for analyzing business competition (p. 457). Upper
Saddle River, NJ: Prentice Hall.
Fleisher,
C. S., & Bensoussan, B. E. (2007). Business and competitive analysis:
effective application of new and classic methods. FT Press.
Leidecker,
J. K., & Bruno, A. V. (1984). Identifying and using critical success factors.
Long range planning, 17(1), 23-32.
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