Homework:
Exercises:
a. What competitor information categories are useful in competitor analysis? Are these categories appropriate for health care organizations? How can these information categories provide focus for information gathering and strategic decision making?
b. Why is it important to clearly define the service area? How does managed care penetration affect service area definition?
Professional Development:
Conduct a service area competitor analysis within your community. Keep it fairly small in scope (i.e. laser hair removal business, extended care facility for ventilator-dependant patients, etc.) so that it is manageable. Begin by introducing the macro issues (general and health care) and then use this outline as an initial guide:
I. Specify the Service Category
II. Delineate the Service Area.
a. General
b. Economic
c. Demographic
d. Psychographic
e. Health Status
III. Perform a Service Area Structure Analysis
a. Threat of New Entrants
b. Intensity of Rivalry
c. Threat of Substitutes
d. Power of Customers
e. Power of Suppliers
IV. Do a Competitor Analysis/Identify Service Category Critical Success Factors
a. Competitor Strengths and Weaknesses
b. Critical Success Factors
c. Strategic Groups
d. Map Competitors
e. Likely Responses of Competitors
V. Identify and Map Strategic Groups
VI. Provide a Synthesis.
Ginter, P.M., Duncan, W.J., & Swayne, L.E. (2013). Strategic management of health care organizations (7th ed.). San Francisco: Jossey-Bass.
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.