The Nature of Business Strategy Essay

697 Words3 Pages
What is STRATEGY? integrated overall concept and plan of how the organization will achieve its goals and objectives THE NATURE OF BUSINESS STRATEGY 4 components of a true Business Strategy Michael Porters 1. Strategy Involves More Than Operational Effectiveness We cannot JUST be more efficient and quality conscious than our competitors. THE NATURE OF BUSINESS STRATEGY 4 components of a true Business Strategy Michael Porters 2. Strategy Rests on Unique Activities Perform activities different from other rivals 3. A Sustainable Strategic Position Requires Trade-Offs THE NATURE OF BUSINESS STRATEGY 4. Fit Drives Both Competitive Advantage and Sustainability Strategic fit express the degree to which an organization is matching its resources and capabilities with the opportunities in the external environment. Competitive Advantage Best at? Why Patients/Clients/Costumer Chooses or patronize your hospital/company THE DEVELOPMENT OF BUSINESS STRATEGY the best strategy emerges when an organization has a grand purpose THE DEVELOPMENT OF BUSINESS STRATEGY Vision and Mission Vision idealized picture of the future of the organization Mission identifies the firm’s purpose and where it fits into the world. - present day realities - “what business are we really in?” THE DEVELOPMENT OF BUSINESS STRATEGY EAST AVENUE MEDICAL CENTER OUR VISION To be a globally competitive center of excellence and premier tertiary category DOH Hospital OUR MISSION To provide specialized quality tertiary level health care services to all patients, provide training to medical and allied health care professionals complying with the standards set by the DOH and to conduct relevant and bioethical researchers for the improvement of health care delivery. THE DEVELOPMENT OF BUSINESS

More about The Nature of Business Strategy Essay

Open Document