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Short Paper: Alternative Strategic Plan HCM - 415

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41 views4 pages

Short Paper: Alternative Strategic Plan HCM - 415

NA

Uploaded by

ombatinaomi72
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Short Paper: Alternative Strategic Plan HCM - 415

Student's Name

Institutional Affiliation

Course Name and Number

Instructor's Name

Date
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Short Paper: Alternative Strategic Plan HCM - 415

Question One

Strategic alternatives are created to establish the course of action in which corporate

people and organizational resources will be employed to increase the likelihood of

accomplishing specified objectives. The approach is a broad notion, and as such, it is frequently

applied in various contexts ("Step 3: Alternatives", 2021). As a result, alternative strategy

formulation entails defining the trajectories that a company might follow to meet performance

objectives, attenuate rivals, gain a competitive edge, and assure the business's long-term

sustainability.

Strategic alternatives are necessary for a firm since the marketplace is constantly

evolving. A company must continuously change its practices and develop new techniques to

counteract new tendencies to be effective ("Strategic Management for Competitive Advantage",

2021). Additionally, if organizations remain inflexible as the behavioural environment shifts,

they will lag behind other enterprises and struggle to offer their services.

Question Two

For decades, reimbursement levels have declined, leaving hospitals scurrying to adjust

their operations to the new regulatory demands. An adaptable strategy framework will aid in the

implementation of new guidelines to match the pricing schedules ("Strategic Planning Process: 3

Ways to Maintain Flexibility", 2021). Such procedures might include consolidating some

services to increase total reimbursement or discontinuing programs since they are no longer

compensated when services are provided. Regrettably, the Emergency Medical Treatment and

Labor Act is an external element affecting all institutions. As a result, adopting new directives

will enable ASH to earn as much income as feasible.


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Question Three

The first proposal would be for Asian Health Services to upgrade, repair, or acquire the

technologies they now have or do not possess at the institution. AHS will be more dynamic in the

marketplace if its technologies are upgraded, changed, or reinvented ("The Modern Hospital:

Using Technology to Save Lives", 2021). Moreover, this is critical for AHS since several

medical service institutions near the hospital have the most up-to-date equipment and can give

more diagnostics and other medical assistance. As a result, if AHS does not capitalize on the

expanding market, it will miss out on prospective income.

Secondly, the Asian Health Service must examine its existing and prospective capital

requirements. AHS's management must examine their existing and prospective financing and

capital requirements as part of analyzing the organization's long-term position. Furthermore,

AHS could explore partnering with a more creditworthy entity that can lower expenses, share

expenses, and improve bank balances.

Finally, Asian Health Services should be flexible to accommodate new payment

mechanisms. Despite the fact that not all health care institutions have switched from a fee-for-

service to a pay-for-value structure, now is the opportunity for businesses to commence

exploring using financial compensation or integrated payment methods.


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References

Step 3: Alternatives. Structured Decision Making. (2021). Retrieved 18 November 2021, from

www.structureddecisionmaking.org/steps/step3alternatives/.

Strategic Management for Competitive Advantage. Harvard Business Review. (2021). Retrieved

18 November 2021, from www.hbr.org/1980/07/strategic-management-for-competitive-

advantage.

Strategic Planning Process: 3 Ways to Maintain Flexibility. National Center for the Middle

Market. (2021). Retrieved 18 November 2021, from

www.middlemarketcenter.org/expert-perspectives/strategic-planning-process-3-ways-to-

maintain-flexibility.

The Modern Hospital: Using Technology to Save Lives. Lifehack. (2021). Retrieved 18

November 2021, from www.lifehack.org/396105/the-modern-hospital-using-technology-

to-save-lives.

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