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Assignment 2: Strategic Alternatives In The Healthcare Sector

1013 Words5 Pages

Strategic Alternatives in Healthcare A fluid environment has impacted strategic planning definitions and purposes for the healthcare sector. Healthcare institutions must not only try to anticipate upcoming changes, but also be flexible enough in strategic initiatives to meet unexpected elements. Therefore, instituting adaptive strategic measures provides healthcare organizations an opportunity to remain viable in a competitive and unsustainable market. Ginter, Duncan, and Swayne (2013) divide these adaptive strategic alternatives into three categories: expansion of scope, contraction of scope, and maintenance of scope. This paper will explore five peer-reviewed articles in relationship to several strategic alternatives and then apply relevant …show more content…

(2013) breaks diversification down into either related or unrelated diversification. Related diversification is defined as the expansion of services affiliated with the institution (Ginter et al., 2013). As healthcare organizations vie for opportunities to build sustainability, many have looked to diversification has a pliable option. One method for diversifying services results from provision of services to other medical facilities lacking in the same service capability. The first article evaluated diversification of medical service provision through the partnership of two healthcare institutions in an effort to better meet the needs of healthcare consumers. Authors LaBarbera et al. (2013) researched the effects of telemedicine as a consulting mechanism between a tertiary care medical facility and a community hospital. A lack of access to subspecialties is a major disadvantage to rural health providers. Telemedicine, a method of electronically communicating health information across distances, provides a means for connecting local providers to an expert in another …show more content…

The authors list an inability to achieve current objectives as a reason for investing in unrelated diversification. Typically, this type of diversification contributes managerial stress by stretching resources for making decisions and the responsibilities of overseeing a new product. While most attempts to generate revenue through unrelated diversification have fallen short for acute care settings, there are exceptions (Ginter et al., 2013). Many working parents struggle to find a balance between family life and work demands. Offering an on-site daycare provides a mechanism to help reduce this stress. However, many employers are not able to offer such services. The second article, written by Dobson (2007), explains the dilemmas faced by employers when trying to institute a workplace daycare. The daycare requires designated space, operational support, and qualified staff and must meet the demands of state regulations and licensure requirements. Despite the challenges, those workplaces who are able to offer this benefit possess an invaluable attraction and retention tool (Dobson,

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