Description
According to Walston (2018),
[O]rganizations constantly face the challenge of devising strategies that will enable them to enhance the value they provide to their key stakeholders. … Business models, the underlying structure and function of organizations, build on the idea of value chains and value creation (Morris et al., 2006; Porter 1985). (Chapter 3, para. 1)
A chosen model and strategy will vary from organization to organization. However, it is important to understand how business models work and what strategies can be employed.
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Walston, S. L. (2018). Chapter 3: Business models and common strategies. In Strategic healthcare management: Planning and execution (2nd ed.). [Books24x7 version]. Retrieved from the Trident Online Library.
Morris, M., Schindehutte, M., Richardson, J., & Allen, J. (2006). Is the business model a useful strategic concept? Conceptural, theoretical, and empirical insights. Journal of Small Business Strategy 17(1), 27-50.
Porter, M. E. (1985). Competitive advantage: Creating and sustaining superior performance. New York: Free Press.
Case Assignment
After reading Chapter 3: Business Models and Common Strategies in Strategic Healthcare management: Planning and Execution, complete/answer the following in a 4-page paper:
Part 1 (2 pages)
oHow do the four components of a business model affect each other?
oWhat might be some difficulties an organization may face when seeking to change its business model?
oHow can a new business model become a competitive advantage for a health care organization?
Part 2 (1-2 pages)
oComplete the following chart in detail:
Generic Strategies
Define
Pros
Cons
Broad Low-Cost Strategy
Focused Low-Cost Strategy
Low-Cost Strategies in Health Care
Broad Differentiation Strategy
Focused Differentiation Strategy
Middle Strategy
oExplain which of the above strategies are best used in health care organizations. Support your rationale with facts and scholar resources.
In your scholarly paper, you should include an introduction and conclusion paragraph.
Assignment Expectations
1.Conduct additional research to gather sufficient information to justify/support your analysis.
2.Limit your response to a maximum of 4 pages, not including title or reference pages.
3.Support your paper with peer-reviewed articles, with at least 3 references. Use the following link for additional information on how to recognize peer-reviewed journals:
Angelo State University Library. (n.d.).Library guides: How to recognize peer-reviewed (refereed) journals. Retrieved from https://www.angelo.edu/services/library/handouts/p…
Ginter, P. M., Duncan, W. J., & Swayne, L. E. (2018). Chapter 5: Directional strategies. In Strategic management of health care organizations (8th ed.). [Books24x7 version]. Available in the Trident Online Library via the Skillsoft database link.
Ginter, P. M., Duncan, W. J., & Swayne, L. E. (2018). Chapter 6: Identifying strategic alternatives. In Strategic management of health care organizations (8th ed.). [Books24x7 version]. Available in the Trident Online Library via the Skillsoft database link.
Walston, S. L. (2018). Chapter 3: Business models and common strategies. In Strategic healthcare management: Planning and execution (2nd ed.). [Books24x7 version]. Available in the Trident Online Library via the Skillsoft database link.
Walston, S. L. (2018). Chapter 4: Growth and integration strategies. In Strategic healthcare management: Planning and execution (2nd ed.). [Books24x7 version]. Available in the Trident Online Library via the Skillsoft database link.
Optional Reading
Walston, S. L. (2018). Chapter 2: Understanding market structure and strategy. In Strategic healthcare management: Planning and execution (2nd ed.). [Books24x7 version]. Available in the Trident Online Library via the Skillsoft database link.
Walston, S. L. (2018). Chapter 5: Strategic alliances. In Strategic healthcare management: Planning and execution (2nd ed.). [Books24x7 version]. Available in the Trident Online Library via the Skillsoft database link.
