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Option 2: Strategic Thinking Map

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Option 2: Strategic Thinking Map: Market Analysis Every organization, no matter how long it has been established, has performed a market analysis of some kind during its operation. The purpose of this assignment is to develop a strategic market analysis for Pocahontas Memorial Hospital (PMH) and determine if adding a satellite location is currently feasible. Analyzing the Market Before PMH can begin developing a strategic plan to implement a new satellite facility, the organization’s leaders must conduct a thorough analysis of the current market. This include the mission, vision, values, and goals of the organization, along with analyzing the external environment and competition. Once PMH has clearly defined and agreed upon its mission, …show more content…

40). These issues can include changes in the government, economically, social or demographically, technologically, and competitively. It is important for PMH to understand that these factors are consistently changing and in order to be an effective organization, continuous market evaluations must be performed to ensure appropriate market penetration. One major piece of the market analysis is to analyze the existing competitors that serve the same target population. Berkowitz (2011) states, “This analysis provides a perspective on the cost of competing and on the bases around which the competition will occur” (p.67). If competitors are already providing the same services at a lower cost, it is not conducive for an organization to try and tap into the same market unless they can promise even lower costs with higher quality of services. Pocahontas County, West …show more content…

From U.S. Census Bureau estimates in 2013 and 2014, the county can be considered rural and the income level is primarily working class. Growth needs to be analyzed as well such as what types of employment opportunities are around or projected to be around to increase the target population of the county. If population growth is not on the horizon, it may not be beneficial for PMH to open a satellite facility. A strategic thinking map is a useful tool in order to effectively analyze the market analysis and develop a strategic plan for implementing goals, such as instituting a new satellite location. See attached for the strategic thinking

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