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business
strategic management

Questions and Answers of Strategic Management

What metrics are necessary to ensure that improvements are sustained?
What are the financial implications for the organization’s current performance?
From your own experience as a patient, provide an example of high-value healthcare.
What are the roles of the following groups in the healthcare value improvement process: boards of directors, senior leaders, physicians, employees, and payers?
Imagine you are a hospital executive and you want to improve your organization’s value proposition. What areas do you need to assess to develop an improvement plan?
Appendixes C and G of the Coastal Medical Center (CMC) comprehensive case study provide Hospital Compare data for CMC and its competitors in the local market. How does CMC’s quality compare with
Should CMC expect to receive a pay-for-performance (P4P) bonus for its quality scores?
Should value-based purchasing be incorporated into CMC’s strategic planning process? Outline a process that will allow CMC to take advantage of future valuebased purchasing initiatives.
What type of organizations should CMC use as benchmarks?
How will you know whether the CMC plan to increase healthcare value is a success?
Compare three hospital organizations in your community, and armed with this information, recommend which hospital you would use for the following service lines: emergency care, cardiac treatment, and
Using the other quality and outcomes metrics discussed in this chapter, list other websites and databases that may provide additional information on the hospital organizations in your community.
From your analysis, does an organization in your community consistently exceed state, national, and local performance metrics? If so, would you recommend this organization to your family and friends?
integrate the various disciplines into a comprehensive framework to assess problems in healthcare strategic planning,
exercise strong managerial problem-solving skills using SWOT analysis,
formulate strategy and implement change using gap analysis and force-field analysis, and
discuss the multidisciplinary teamwork required to enable an organization’s leaders and team members to efficiently implement change.
How does SWOT analysis set the stage for strategic planning?
Discuss the use of force-field analysis in promoting change in a healthcare organization.
Provide examples of how gap analysis can be used to improve the quality of healthcare services.
Provide an example of how a hospital’s strategic plan can affect downstream revenue.
Looking at the data provided, calculate the potential lost revenue for ED visits over the past year.
Using the data provided, calculate the potential lost downstream hospital revenue from ED admissions who walked out over the past year.
Make a recommendation to Mr. Henderson, Dr. Warren, and Dr. Jones for how to deal with the ED problem.
Describe an external analysis. lo1
Explain how to do an external analysis of an organization's specific and general environments. lo1
Discuss the benefits and challenges of doing an external analysis. lo1
Put yourself In Nooyl's shoes. What other types of external information might you want to look at? lo1
How would you classify PepslCo's environmental uncertainty (i.e., its amount of change and complexity)? lo1
What is an external analysis, and what does it show managers?
How does the concept of an organization as an open system relate to external analysis? lo1
What does each perspective on organizational environments say? lo1
What role does environmental uncertainty play in external analysis? lo1
Why do managers need to do more than just scan the environment? lo1
Using the eight conditions, assess the level of current rivalry in this industry. lo1
Which of these eight conditions do you think are the most important to the level of current rivalry in this industry? Why? lo1
As the industry matures, do you think the intensity of rivalry will change? Explain. lo1
Can you think of some industries in which competition has "forced" competitors to be better? lo1
What about benefits for customers? Is competition beneficial for them? Explain. lo1
Analyze this situation using the seven barriers to entry from the perspective of the existing competitors and from the perspective of the possible competitors. lo1
What do you think? Are these apps ethical? Why or why not? lo1
When crafting strategy, should managers ever consider whether the strategy being implemented is offensive, objectionable, questionable, or unacceptable? Is it more acceptable or less acceptable when
What stakeholders are most important in this situation, and what concerns might those stakeholders have? lo1
Do businesses have a responsibility to protect their consumers? Why or why not? lo1
Analyze this situation using the five competitive fac- _ tors approach. Where do the opportunities and threats appear to be for publishers? lo1
Find and graph the cost of a barrel of oil over the last three years. lo1
Why are higher transportation costs particularly challenging for manufacturers of lower-value goods and for heavier and bulkier products? lo1
What industries, in addition to the oil industry, might benefit from higher transportation costs? lo1
What's your reaction to this description? lo1
How do you think strategic decision makers might be able to use this information? lo1
Go to Hallmark's Web site [www.hallmark.com]. Click on About Hallmark and then the Newsroom. In the search box, type in the word "trends." This will bring you to a page describing emerging and
Which ones are described there? How might these affect strategies at Hallmark? What could other companies learn about sociocultural opportunities and threats from these descriptions? lo1
Do some research on the electronic waste problem and how various governments are dealing with it.Check out a CBS News 60 Minutes investigation called"The Electronic Wasteland," which can be found at
What do you think? How might laws/regulations impact strategies of organizations (not the e-waste recyclers)? lo1
How could trend spotting be part of an external analysis? lo1
Are there any drawbacks to trend spotting? Explain. lo1
Check out the Intelligence Index and CI Tools at [www.fuld.com]. What do you think about the information that's discussed there? lo1
Do you think competitor intelligence has a place In external analysis? Why or why not? lo1
What does the five-forces model look at, and how is it used? lo1
What is examined in each of the five components of the general environment? lo1
How is an external analysis done for a company that's doing business globally? lo1
How is information on the external environment found and evaluated? lo1
Describe the different responsibilities for doing an external analysis. lo1
What external trends do the strategic managers at the movie theater chains have to evaluate? lo1
What external sectors are these trends part of? Are these external trends of equal importance to the movie theater chains? Explain why or why not. What opportunities and threats do you see in this
How do you think these external trends might affect the strategies used by the movie theater chains? Be specific. lo1
If you were a strategic decision maker at the corporate headquarters of one of these movie theater chains, what types of external information would you want? What if you were a manager at a local
What examples of environmental scanning do you see in this case? What role do you think environmental scanning has played in the company's evolution? What role will it need to play in the company's
Using the five competitive factors approach and the information in the case, do a brief industry-competitive analysis. lo1
What types of information do you think Dunn might want from each of the five general environmental sectors? (You don't need to look up this information. Just indicate what trends they would probably
What opportunities and threats do you think are facing this industry?
Best Buy has 2,600 stores in Europe and China (and has stores in Canada) and is looking to global markets for growth. As the company goes more international, what types of external information will
Update the information on Best Buy: number of stores, revenues, profits, and employees. Are these numbers increasing or declining? lo1
What external areas and trends do you think strategic managers at Kohl's have to deal with? lo1
If you were a strategic decision maker at the headquarters of Kohl's, what types of external information would you want? What if you were a Kohl's local store manager? What types of external
Go to Kohl's web site [www.kohls.com] and find the latest Kohl's Fact book. (Hint: Look at the Investor Relations section.)What strategic initiatives is the company pursuing? Take one of those
What industry/competition opportunities and threats do you see in this case? lo1
Describe the different perspectives on competitive advantage. lo1
Explain the driving forces, implications, and critical success factors of the business environment. lo1
Discuss two organizational elements that guide strategic decision makers in managing strategically in today's context. lo1
What might the I/O view say about the pantyhose industry? lo1
Where might competitive advantage come from in this industry? Go to Hanesbrands' Web site [www.hanesbrands.com]. What strategies is it pursuing to get and keep a competitive advantage in this
What do you think Hulu's owners should do now? lo1
What is it about this situation context that's so challenging? lo1
What type of resource(s) does Hulu have? Would you call it unique? Explain. lo1
Go to the company's Web site. What other examples of resources do you see? lo1
Do you think any of these resources are unique?Explain. lo1
Take a look at the company's Web site. What other strategic options are they pursuing, especially in light of rising fuel costs and retail slump (meaning fewer packages delivered)? lo1
Do FedEx's actions reflect the guerrilla view of competitive advantage? Discuss. lo1
Define competitive advantage and explain why it's important. lo1
Describe the different perspectives on competitive advantage. lo1
Explain what makes a resource unique. lo1
How has the information revolution impacted service, businesses? lo1
What does this scenario tell us about the importance of knowing the context? lo1
Explain how Trend Micro has succeeded using Figure 2,3, lo1
Describe the three major driving forces of the business environment. lo1
Explain the four major implications of these driving forces. lo1
Discuss the three critical factors for succeeding In the business environment. lo1
Explain how various types of measures and controls are utilized to properly assess performance including activitybased costing, ERM, ROI, and EVA AppendixLO1
Develop a balanced scorecard to examine key performance measures of a company AppendixLO1

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