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Key Topics
- Requirement
- Solution
- Contribution to the group assignment:
- Key learnings in relation to strategic management:
- Recommendations to improve the strategic management in the company:
- Personal feelings:
- Contribution to the group assignment:
- Key learnings in relation to strategic management:
- Recommendations to improve the strategic management in the company:
- Personal feelings:
Requirement
Please find the attachment slides the presentation of the module of strategy,and there is in the attachment the assignment kcc I have some notice regarding the assignment when you will arrive to individual I need 3 different assignment as if for three students because we are three students for the group written same thing ,but for the individual we need three different assignment.am student in master health care management
Solution
Contribution to the group assignment:
The strategic plan for the clinic consists of various strategic management tools that have been used majorly for creating this plan. So, I contributed to the analysis of those tools. I mainly did the VRIO, KPI's, the clock and the BCG matrix. I also contributed towards determining the strategic intent and mission or vision statement of the clinic which can utilize by its customers in analysing the establishment reason of the clinic. I also gave words to the strategic intent of this clinic by collecting the ideas from the team members. The tools ad to be analysed and they had to be used for the plan. So, I planned as per the analysis that I conducted of those tools. In this way, I contributed towards this report and the plan formulation.
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Key learnings in relation to strategic management:
I learnt that strategic management is an important tool for rationalising and actualizing the change. The businesses have to go a lot of changes, and the process of strategic management helps them in doing that in a smooth and effective way. Thus, when change is management, all other things work in a proper manner in any business. Strategic management gives me knowledge about how one can discharge their duties and obligations in a significant manner. If the key executives aren't able to perform their functions management of clinic is not able to gain success. With the help of strategic management, I learnt about different tools which can utilized further in forecasting the different modules of an organization. I also learnt that how decisions can take place in different phases of business because strategy should develop as per growth in success. With the strategic help of strategic management, I also learnt that what procedure should be followed in developing and implementing different strategies. This will maintain the adequacy and profitability of developed strategies. It also gives me a strong knowledge about the role of change in achieving success. Due to the flexibility of existing environment, changes continuous takes place. By utilizing strategic management, I can significantly make my change plan for preventing the negative impacts of these changes.
Recommendations to improve the strategic management in the company:
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1. The employees of the company should be chosen very selectively because this clinic aims to serve the society. So, the people who do not have such intentions can prove to be harmful to the clinic.
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2. The clinic should make investments very thoughtfully, and it should plan the areas where it should, and it can make investments so that maximum people are benefitted.
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3. Audit and corporate governance should be given importance in the clinic to make the processes of the clinic transparent and ensure that all the activities are taking place to help the patients and not for any other purpose.
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4. The clinic should utilize the strategic management in coordinate and align its resources and actions in a significant manner. It is important because best utilization of resources can change the strategic position and competitive advantage in the clinic.
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5. The clinic should transform utilize the strategic management efficiently and should transform its all strategic plan in the static plan in an efficient manner.
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6. The management of clinic should make its decision very seriously because all decisions and strategies success ultimately influences the performance of the clinic.
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7. Employees performance measurement initiatives should take so that any variations can identify immediately and can rectify on urgent basis.
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8. They should determine the standards of performing tasks so that every task can perform as per required manner and can avoid any mistake in future.
Personal feelings:
This report made me feel that I am good at anticipating things and hence I can develop a plan for my own business in the future. I have good analysing skills, and I can think well while developing plans for the new ventures. Also, I have a willingness to serve the society so I can develop my own venture for the similar service in the future. I felt really good, and I learnt a lot about strategic management from this task. I am feeling very attached to this report which motivating me very much in performing my day to day functions. I felt that this enhance my thinking capability as well as analysis skill which can utilized further in availing other opportunities. It gives me a feeling of a high-class professional which performing such difficult tasks for establishing their own organization. I feel excited to think that this will make me expert in my field. I think Porter five model is very useful because it gives a glimpse on every aspect of the market.
Contribution to the group assignment:
I contributed to this assignment by giving knowledge about the tools that helped in the formulation of the strategic management plan for three years. I analysed the three tools: The PESTEL, Porter’s 5 forces and the SWOT analysis. I analysed all the three tools and formulated the plan accordingly. I also contributed to the formulation of the mission and vision of the clinic. I contribute towards the establishment of core values for the clinic with which it can easily place itself in the mind of its target patients. I also helped my teammates in building various strategies to place the new venture in its target market. I enforced these on the basis of mission and vision of the clinic so that they helpful in accomplishing these predetermined objectives. I studied lots from various primary or secondary research papers so that I can contribute more towards making it more logical. I analyse the different factors which can influence the strategic position of the organization and prepare SWOT, and PESTEL analysis so that every aspect of the clinic can judge with more focus.
Key learnings in relation to strategic management:
I learnt that strategic management is very important for any company or business to gain competitive advantage. It helps in strategizing the future moves of the business and helps it to prosper in the uncertain environment. In strategic management, the business can look at the forward plans and thus, the priorities of the business could be set. I also learnt that how different strategic management tools can apply in a practical manner and how these helpful in taking different management decisions. Strategic management factors give me understanding about the internal and external factors of the clinic on the basis of which success and failure assumptions can develop by me easily. I also learnt that it is the core function without which success of clinic cannot measure.
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Place Your OrderRecommendations to improve the strategic management in the company:
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1. The clinic should do a risk analysis because that will help in fighting with the future challenges and the clinic will get prepared for the future uncertainties.
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2. The clinic should decide the budget and costs of providing the services so that the expenses do not exceed the available funds. This will ensure that everything is spent on the available funds and the clinic does not have to face bad debts.
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3. The clinic shouldundertake the regular audit exercise so that the ethical conduct is maintained. The employees of the clinic may be trying to benefit personally from the earnings of the clinic. So, the audit will make the processes more transparent, and it will improve its image to the public.
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4. The clinic should determine different standards through which all assigned tasks can perform in a standard format without conducting any mistake.
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5. The clinic should emphasise more on employee motivation because they are the key contributors to the success of the clinic and in the absence of motivation they don't utilize their overall potential which can prove very risky for its success.
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6. The clinic should develop a time schedule plan within which it transforms itself in a physical identity but while transforming it should focus on quality, time, and cost factors of the clinic.
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7. The cost of its services should bring down as per earning of individuals because by minimizing cost normal citizens also can take benefits of services offered by the clinic.
Personal feelings:
While writing this report, I felt very professional, and I felt that I am writing this report to help the management in taking very crucial decisions about the company. I realised that I am good in doing the analysis of the tools of strategic management and I learnt to apply the tools for the planning process. I felt that doing this work enhance my analysis capabilities which can further utilized in performing other tasks. Writing this report give me a feeling of the owner of the clinic and I need to take steps for my improvement of my clinic. This is a strong feeling which encouraging me to do something innovative by establishing my own business. I feel very nice while applying the different tools because this will provide me with a high knowledge about the importance of all internal or external factors. I felt that I need to take very serious initiatives to promote the clinic in the eyes of customers. I am feeling very excited while developing new strategies and initiatives for the success of the clinic. Working on the report giving me a chance to significantly prove my skills and efficiency by getting success in the clinic.
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