Performance Improvement and Management in Health and Social Care

PERFORMANCE IMPROVEMENT
AND MANAGEMENT IN HEALTH
AND SOCIAL CARE
TABLE OF CONTENTS

INTRODUCTION...........................................................................................................................3
Task 1...............................................................................................................................................3
Strategic planning models............................................................................................................3
Task 2...............................................................................................................................................8
a. Du point analysis..................................................................................................................8
B. Ratio interpretation...............................................................................................................10
TASK 3..........................................................................................................................................12
Critical evaluation of performance management.......................................................................12
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Performance management is a term that defines analysing the company’s performance in
market. This report is based on the case study of BME Luxury Care Hone ion respect to its
performance measurement. Henceforth, report will emphasis on advantages and disadvantages
associated with some strategic direction of company. This report will also discuss some financial
terms. Performance management will also discuss in this report.
Task 1
Strategic planning models
Strategic planning is referred to the process of identifying the goals and objectives of the
business while resources are used to gain defined objectives over the time. while model is a the
systematic process that directs business how to use appropriate resource along with right action
which leads success on time and reduces risk on time. the strategic planning frameworks plays
essential role such as it develops a strong alignment between resources and mission of the
company (Bergmann and Strecker, 2018). In addition, it is essential to determine aspects of the
business-like resource (employees) are working well and understand needs of further adjustment
which is required to meet desired objectives. There are two strategic planning models that helps
director of care home to promote business growth effectively. Models are described as follows:
VRIO Framework
It is a strategic analytical tool that is designed to support business to determine it’s
capabilities, resources and risks which gives them long-term competitive advantage. The
framework is a strategic tool that helps to understand elements of the business which gives
sustainable competitive advantage from the competitors. It creates foundation to mapping out
that which resource can lead more success and provide competitive advantage or which one can
be applied as an instructor in decision-making process and sets priorities of resource according to
requirement in the company (Gregor, Weidner and Raw, 2016). This model stands for valuable,
rarity, imitability and organized which helps to determine effective resources that leads long-
term competitive advantage in company. The model concept is basically dependent on elements
firm resource and sustainable competitive advantage.

Valuable resources
A resource is considered valuable resource if it adds perceived value to the organization
weather it can help company to take advantage of the given opportunity or can create threats.
While in Swot analysis model valuable resource is considered into strength, opportunities and
threats. As per the concept if resource is valuable then it offers the business with some sort of
benefits. Moreover, a resource that is more valuable for the company but does not fit any of the
other dimension of the model as result does not lead any competitive advantage. A company can
take competitive advantage, only in one state when resource is valuable and it is not rate and not
hard to imitate by others.
Rare
A resource that is judged based on the rarity. It is often easiest and least subjective part of
the VRIO model. It is gathered by competitors easily and easy to replace completely. In other
word. A resource that is not possessed by most of the company due to rarity. When a resource
keeps both type traits valuable and rare then it gives competitive advantage. A company can easy
to gain competitive advantage and growth of the business when it has rare but valuable resource.
This resource can easily imitate by competitors when they realize quickly So it is not big deal to
imitate rare resource. That’s why it is considered temporary competitive advantage.
Inimitable
It is valuable and rare resources that supports corporations to engage in strategies while
other companies cannot pursue further till companies has shortage of relevant resources. It does
not have guarantee for long-term competitive advantage (Immordino and et.al., 2016). The
reason behind is that other companies can intimate these resources to win the competition and
leads high profitability in the company. This resource is highly focused on company and helps to
gain competitive advantage but competitors always try to imitate or copy of the resource when
they feel. As per the concept of RBV organization must chose such kind resources which must
be hard and expensive to imitate or substitute for others. The resources can be imperfectly
imitable due to few reasons according RBV concept such as unique historical condition, social
complexity and casual ambiguity. Social complexity denotes that if company has mots important
resource such as strong organization culture and it’s brand image among suppliers and customers