Assignment 10: Strategic Fit Outline
Ebonee Jarrell
April 11, 2021
1. Organizational Information
Johns Hopkins Hospital is a world-renowned facility that is ranked among the top three adult hospitals in the United States and number one in Maryland. Johns Hopkins Medicine has established a mission that focuses on improving the health of residents of Baltimore and surrounding communities. They are committed to setting a worldwide standard of excellence in research, clinical care, and medical education (Behr, 2020).
Johns Hopkins Hospital has established initiatives to enhance the care and treatment needs of the community it serves. By establishing 300 programs, they identified high priority issues to include asthma, cancer, diabetes, obesity, mental health, substance abuse, and more (Behr, 2020). Many of the initiatives are directed to assist the local communities of Baltimore. However, Johns Hopkins has expanded their markets to areas in the Washington, DC metro area. These facilities include Sibley Memorial Hospital in Washington DC, Suburban Hospital in Montgomery County, MD and Johns Hopkins All Children’s Hospital in St. Petersburg, Florida to name a few. These expansions further enable the organization to expound on the initiatives to enhance the treatments in the surrounding communities.
2. Corporate Mission
While Johns Hopkins Medicine facilities maintain their own healthcare objectives for the communities they serve, they all share the same mission, vision and core values. This approach allows them to push out and provide a standardized innovation plan to all of their facilities. “Innovation 2023 is Johns Hopkins Medicine’s Strategic Plan for fiscal years 2019 through 2023” (Q, 2018). This strategic plan establishes priorities, guides business tactics and resolutions, and furthers their legacy of innovation and distinction in patient care, research and education.
As outlined in their mission, vision, core values, and Innovation 2023 Strategic Plan, Johns Hopkins Medicine is committed maintain the reputation of high quality, elite care that they have established over the years. They have expanded their facilities to produce the services and capabilities to meet the needs of the surrounding community.
3. Research and competitive analysis
The strategic plan is broken into six pillars. Three of the pillars in the strategic plan seem to focus on the patient. The first one is “Make Johns Hopkins Medicine Easy” which targets enriching the patient experience by bettering access to care, communication and transitional care. The second pillar called “Support the Well-Being of Our People and Our Communities” is designed to grow the local community engagement and foster a culture within the organization that supports diversity and inclusion. The last patient focused strategy is “Improve the Quality and Affordability of Health Care.” This strategy is intended to maximize the value for all patients by having a concentrated focus on safety, quality, and efficiency while striving for continuous improvements of performance (Q, 2018).
The final three strategies focus on furthering the organization as a whole. “Work Like One Organization” builds upon their leadership by working to become the standard in the integrated health care delivery system. Another plan is “Push the Boundaries of Science and Education” which enriches the atmosphere for learning through continued innovation and investing in fundamental science to develop new ways to teach, train, and deliver clinical care. Lastly, and most fitting, is “Aim for Precision in Everything We Do.” This final strategic plan uses data in innovative techniques to direct decisions in all aspects of the organization to include finances, administration, education as well patient care (Q, 2018).
4. Broad analysis
a. 5-forces
The government policies regarding the levels of hospitals and the required services that they are expected to provide, regardless of whether they are profitable or not to the hospital ensures that for Johns Hopkins Medical to maintain its level and continue to function as a major healthcare facility, it has to maintain some services and evaluate the available resources that may enable it open new branches or wings.
With the emergence of numerous other healthcare options and providers, Johns Hopkins has to spend capital on advertisement and marketing, to ensure that it remains the leading healthcare provider, not only to its immediate vicinity but to the potential clients as well. The patients give Johns Hopkins Medical its goals and drive. This means that the organization has to spend a considerable amount of money to maintain legal matters, try to win lawsuits, and pay settlements where required.
b. SWOT-EFE
The SWOT-EFE provides an analysis of the external contexts of the selected organization, providing a view into the external circumstances that could lead to the development or collapse of the organization (Gürel & Tat,2017). The Johns Hopkins medicine is an institution that aims to provide high-quality healthcare to its patients and community. The threats and opportunities cover the external portion of the SWOT analysis.
5. Financial statement
McKinsey’s 7-S Framework are (1) style which is the kind of leadership the organization uses to achieve their goals (2) skills which refer to the actual skills and competencies of the organization’s employees; (3) systems which refers to the daily activities and procedure that staff use to get the job done and the goals are met; (4) structure which is how the company is organized, how departments are structures; (5) staff which refers to the employees and their general capabilities; (6) strategy which is the organization’s plan for building and maintain a competitive advantage over its competitors;; and (7) shared values which is the core values of the organization where every S is anchored. This is the corporate culture and general work ethics.
BCG Matrix on the other hand is a business method which based its theory on the life cycle of products. It is known as the Boston Box or Grid or Charts that are divided into four types of scenarios, Stars, Cash Cows, Dogs and Question Marks. The Stars is the scenario where there is the optimum situation of high growth and high share, this method requires an increased investment due to the continuous growth; the Cash Cow cycle deals with low growth and high share. This scenario requires a low investment, but the growth is very slow; the Dogs method is the situation where the growth is low and the market share is low, this is one of the worst situations. In this situation if the products are not delivering the cash then it is best to liquidate; and the Question mark means high market growth but low shares. In this situation there is a high demand but low returns. It is best to try and increase market share or get it to deliver cash.
6. Generic Strategies
a. TOWs
TOWS is a widely used tool emergent from the SWOT analysis framework that enables an analysis of strategy development by matching the Threats of the organization to the Weaknesses, and the Strengths to the Opportunities. This provides a variety of recommendations for efficient development through the risks in the contexts (Weihrich,1982).
7. Strategic Fit Results
The institution can offer better coverage for the disadvantaged patients admitted to the
facility in order to avoid any lawsuits that can arise from this tangent. The institution can invest in research concerning the dreaded diseases and remedies to enable it to be able to stand up to its competitors who offer comparatively better care for those afflicted.
Johns Hopkins Medical can also offer the specialization courses in the university and
employ trained personnel to offer the surgeries and medical procedures, leading it to provide at par or better healthcare than its competition. The institution can provide racial diversity directives and policies to evade tags and legislative directives that may adversely affect the institution.
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