What role does strategic management play in health care institutions? Why is that role important in today’s health care environment?
Must be at least 200 words Let’s start by taking a look at what strategic management is.
A is a living document. Let’s look at Kodak, they went into digital film for the health care industry, but did not feel that they needed to in the consumer market.
What happened? They went bankrupt because that strategic plan was buried away and not looked at for years, which was too long for them to get into the digital market. Once they decided to get into the digital market for consumer they were too late in the game to have any sales.
We can also look at Blockbuster. They were at the top of their game. Very successful and making money hand over foot. But, they too had a plan locked away, did not look at what was happening with their competitors and did not realize the shift in delivery method., both online and a 24/7 start up called Red Box.
Both of these thriving and profitable companies had to declare bankruptcy. Why, because they did not look at their internal or external environment nor were they concerned what their competitors doing?
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