Proposal
Vanderbilt University Medical Center is the company proposed for analysis in terms of its profitability, sustainability, and overall effectiveness with the help of different tools such as the SWOT analysis, sustainability analysis, value chain analysis (NetMBA.com, 2007), and a number of other different methods that can contribute to the overall image of the organization.
The organization is engaged into a chain of activities including health care services and educational field which can be considered its major specializations. At the same time, it is important that the company can perform its functions effectively regardless of the number of fields in which it specializes including research and health care as well as education.
As suggested in the study by Senge, Smith, Kruschwitz, Laur, and Schley (2008), “societies are not monolithic” (p. 8). In this respect, the difference between various components of the society should be addressed in an appropriate way bearing in mind this very difference.
The evaluation of the Vanderbilt University Medical Center can help demonstrate the practical implementation of analysis in terms of the effectiveness of the organization and its sustainability taking into account the employees and employers relations, corporate social responsibility component, and the roles and potential benefits of stakeholders from changes that may be introduced.
Harvard Business School Press (2005) states “strategy in the absence of effective implementation is pointless” (p. 64). In other words, the evaluation of the organization is necessary for further improvements because knowing the theoretical framework of the organization, it is easier to apply practical decisions to its elements.
In addition, every step in critical thinking requires a profound approach which is selected in accordance with the specific goals of the organization and its functions including the analysis of stakeholders and the role of employees in the maintenance of the organization.
Introduction
As suggested in the study by Porter and Millar (1985), good research base can be considered one of the competitive advantages of an organization involved in business activities. As the Vanderbilt University Medical Center carries out educational functions and health care activities, its research base should be really profound.
In other words, the need to apply strategic thinking in this organization becomes apparent after analysis of its strengths and weaknesses. The concept of sustainability is present in the Vanderbilt University Medical Center due to the complex approach selected here to maintain different fields effectively combined with the core in health care and education.
Applying Traditional Strategic Thinking Tools
Stakeholder identification and value analysis
Freeman (1984) and Freeman and Gilbert (1988) have outlined an approach when stakeholders are identified in terms of their role and potential benefits as well as possible contributions in the corporate social responsibility.
The main stakeholders of the Vanderbilt University Medical Center are employees, patients, researchers and scholars, public, media, politics, authorities, and other health care institutions. According to the value-creation approach introduced by Wheeler, Colbert, and Freeman (2003), the Vanderbilt University Medical Center has “a value-neutral or trade-off perspective, typically associated with effective corporate philanthropy and stakeholder communications” (p. 11).
General force analysis
The general forces for this organization include demographics, technology, progress, religion, views of people, and education.
Porter’s five forces industry analysis
As the organization performs effectively, the main forces that can shape its competitive methods include the bargaining power of suppliers and the bargaining power of buyers (Porter, 2008, p. 27).
Detailed value chain analysis
The performance of new entrants to the industry would insignificantly shape the position of the organization in the market because it I not the major force that would shape its performance.
Detailed SWOT/SCOT analysis
Kaplan (2004) states that SCOT theory emphasizes “stabilization and closure” (p. 487) while Böhm (2009) suggests analysis of strengths and weaknesses in the framework of SWOT analysis (p. 2).
Key success factors: Integrating the analysis
The potential skills and capabilities of the organization depend on the education level and the level of the research center which is a part of the organization.
Analyzing the company strategy type
According to Gupta, Gollakota, and Srinivasan (2005) ‘specialization ratio’ is the main criterion of corporate strategy (p. 180).
Analyzing the company strategy moves
The company strategy moves are often regarded as timing tactics (Kazmi, 2008, p. 256). In this respect, the steps the company makes characterize its moves.
Alignment & goals analysis
The competitive environment includes other health care institutions that have a profound research base and skillful employees as well as an opportunity to hire talented inexperienced employees after the graduation from their educational base.
Action plan analysis
According to Meznar, Chrisman, and Carroll (1991), the social responsibility should be included into the action plan to improve the organization’s performance.
Extending and Re-Framing Your Sustainable Solutions Paper
Fitness landscape translation analysis
Stacey (2007) states that progress and development are more appropriate for the organization than stability (p. 198). The Vanderbilt University Medical Center has more hills than valleys in its operation.
Boid analysis: Rules for your topic?
As suggested by Pisapia (2009), the main rules of Boids are separation, alignment, and cohesion (p. 52). These rules should be used to differentiate the organization from its main rivals.
Ray’s simulation translation & fishing simulation translation: Industry evolution modeling
Cooperation and competition between the Vanderbilt University Medical Center and other health care institutions can be more productive when emphasized.
Applying Systems and Sustainability Frameworks
Life-cycle assessment (LCA)
The main services the company offers include treatment which is carried out in the usual form when a patient is examined, diagnosed, prescribed with medicines, and treated in accordance with a prescribed scheme (Vanderbilt University Medical Center, 2011).
Compliance to innovation analysis
The innovations are introduced constantly into the operation of the organization.
“Sustainable value framework” synthesis: detailed driver analysis
As emphasized in the study by Senge, Smith, Kruschwitz, Laur, and Schley (2008), the sustainable value can be reached through the corporate social responsibility approach which also includes the environmental protection according to the case of DuPont (p. 111).
Executive Summary
The Vanderbilt University Medical Center is involved into the health care and educational activities and also serves as a research center for medical purposes. As such, the organization has a profound research base which enables it to improve the quality of the health care services provided to patients and meet the requirements of main stakeholders in terms of quality and regulations in the health care sector. The competitive advantage of the organization is that it has a good research base and an educational branch from which a flow of talented employees is guaranteed.
References
Böhm, A. (2009). The SWOT analysis. Berlin: GRIN Verlag.
Freeman, E. (1984). Strategic management: A stakeholder approach. Boston: Pitman.
Freeman, E. & Gilbert, D. (1988). Corporate strategy and the search for ethics. Englewood Cliffs, NJ: Prentice-Hall.
Gupta, V., Gollakota, K., & Srinivasan, R. (2005). Business policy and strategic management: Concepts and applications. New Delhi: PHI Learning Pvt. Ltd.
Harvard Business School Press. (2005). Strategy: Create and implement the best strategy for your business. Boston: Author.
Kaplan, B. M. (2004). Information systems research: Relevant theory and informed practice. Norwell, MA: Springer.
Kazmi, A. (2008). Strategic management and business policy (3rd ed.). New Delhi: Tata McGraw-Hill Education.
Meznar, M., Chrisman, J. J., & Carroll, A. B. (1991). Social responsibility and strategic management: Toward an enterprise strategy classification. Business and Professional Ethics Journal, 10(1), 332-336.
NetMBA.com. (2007). The value chain. Web.
Pisapia, J. (2009). The strategic leader new tactics for a globalizing world (PB). Charlotte, NC: Information Age Publishing.
Porter, M. E. & Millar, V. E. (1985). How information gives you competitive advantage. Harvard Business Review, 63(4), 149-161. Retrieved from ABI/Inform Global database.
Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard business Review, 25-41. Web.
Senge, P., Smith, B., Kruschwitz, N., Laur, J., & Schley, S. (2008). The necessary revolution: How individuals and organizations are working together to create a sustainable world. New York: Doubleday.
Stacey, R. D. (2007). Strategic management and organisational dynamics: The challenge of complexity to ways of thinking about organizations (5th ed.). Harlow, Essex: Pearson Education.
Vanderbilt University Medical Center. (2011). Official Website. Web.
Wheeler, D., Colbert, B., & Freeman, R. E. (2003). Focusing on value: Reconciling corporate social responsibility, sustainability and a stakeholder approach in a network world. Journal of General Management, 28(3), 1–28. Web.