First students response replies should be around 75 words or more. In terms of a business, growth is “the process of improving some measure of an enterprise’s success” (Businessdictionary.com). Companies create portfolios, conduct surveys, assessments, and then determine if they should expand. Once the organization gathers all the information needed and decides officially to expand they focus on several reasons. 1) Companies decide to expand based on if they are able to compete with other organizations, see if they are in the same running and can stay in the game 2) Enhancing growth allows the organization to cut cost elsewhere as far as lower price of product/service, which helps the economy, it’s market, and gives the organization a step ahead of its competition. 3) Experience and efficiency increases, while cost are lowered per Moseley. 4) Egos from higher power/upper management helps promote growth. 5) Concentration: focusing on a specific product/service of the company. 6) Related and Unrelated Diversification focusing on a specific product/service but moving forward; unrelated deals with a conglomerate group of businesses that have multiple services to focus on. While all the reasons to grow are important results in not growing can mean a plateau for your company, financial strain not having the resources to grow, or the timing is not right. If a company does not grow they risk the chance of losing their market, the business, and allow the competition to have a cushion over the organization. If your organization has the chance to grow you definitely want to take it, but keep a steady hold on the growth because you don’t want it to becoming overwhelming.
Business Growth. 2015. Retrieved from www.businessdictionary.com/definition/business-growth.html.
Secondstudents response replies should be around 75 words or more.
What are some problems that are encountered in assembling and managing integrated health care delivery systems? List seven principles that should be followed to ensure the successful operation of such systems.
Close to 850 integrated health care delivery systems (IDSs) exist in the United States today. Currently, most systems are considered to be in an evolving state of integration as they attempt to provide a full continuum of services in a user-friendly, one-stop-shopping environment that eliminates costly intermediaries, promotes wellness, and improves health outcomes (Boone, 2000). Recreating a health care system requires a lot of time and strategic planning. The reasoning behind mergers grow from the financial gain, geographical advancement and hospital/physician strength. Challenges are very prevalent with these types of health care delivery systems. Corporate executives must come together to merge their difference to make one entity that will best fit them and the community. Some of the challenges that come along are dealing with the system functions. The parent business may have a different EMR than the other and they will need to come down to figuring out which one will be a better fit for the new company. Increasing operating cost will limit the amount of funds to please patient satisfaction, along with inefficient processes, poorly managed units and obsolete technologies. Seven key principles that should be followed include:
1. Getting back down to fighting weight – Stay within a fixed rate, don’t over do it because times are good.
Return to core businesses and competencies –Remember the strategic plan that got you where you are, go back and look over your plans.
Seeking a “white knight” to take over – Do not let pride take you under, learn to know when help is needed and look for a shoulder to lean on.
Selling the entire organization – Its okay to let sell then to be taken. If the company is not profitable it may mean you need to seek other means of business.
Divesting pieces of the corporate portfolio – “Out with the old, in with the new”. Reevaluate your SBU’s and see which ones can stay or go.
Voluntarily file for bankruptcy and reorganization – Although only a small percentage of companies are able to recover after a bankruptcy but its better to file for a chapter 11 than have IRS involuntarily take your company from you.
Voluntarily or involuntarily filing for bankruptcy and liquidation –The filing may be initiated by either the business or its creditors. No attempt is made to salvage the business as a going concern .
III, George B. Moseley, Lecturer in Health Law and Management, and Department of Health Policy …. Managing Health Care Business Strategy. Jones & Bartlett Learning, 2009. VitalBook file.
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