This report discusses the corporate life cycle stages of Swedish Medical Center, its strategy implementation, strategy-culture compatibility, and the benefits of Six Sigma. It also highlights the importance of effective communication and culture in successful strategy implementation.
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Running head: SWEDISH MEDICAL CENTER Swedish Medical Center Name of the Student Name of the University Author note
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1SWEDISH MEDICAL CENTER Introduction Swedish Medical Center refers to the largest nonprofit health provider located in the greater Seatle Area. It poseses five hospital campuses that include first hill, Cherry Hill, Issaquah and Edmonds. In order to expand its business life cycle the mentioned organization has implemented a corporate strategy. In the mentioned report, identification of the corporation’s life cycle, analysis of its strategic implementation, strata cultural compatibility and six sigma method will be performed. Discussion Corporate Life Cycle Stages The corporation’s life cycle can be defined as the progression of a business along with its phases overtime and is segregated into five stages that includes launch, growth, shakeout, maturity and decline stage. It is highly crucial for the management of Swedish Medical Center to know which stage the company is in order to cope up various challenges and suggests various strategies to maximize profitability (Koltun & Tharumarajah, 2014). Launch Stage: in this stage, the organization launches their new product or services. At time of this phase, sales are low but are slowly increasing. Growth Stage: During the growth phase an organization experiences rapid growth in sales. With the increment in sales profit of the organization gets increased. Shakeout Stage: During the shakeout phase, sales keeps on enhancing, however, in a slower rate for either approaching market saturation or new competitors entry in the industry (Nicolae & George-Vlad, 2015).
2SWEDISH MEDICAL CENTER Maturity Stage: With the maturity of the market, sales of an organization gradually get decreased. The Swedish Medical Center is in its maturity stage. As organizations approach maturity, investments takes place largely behind the business and thus the generatiioon of cash is higher than the profit. DeclineStage:Inthisstageofthebusiness,lifecycle,sales,profitandcashflowall decline.Organizations accept their own failure in order to expand their business cycle by adopting the change in the environment of the business. Strategy implementation Strategy implementation can be defined as the process implemented by the managers of an organization in order to put strategies ad plan into action, so that desired goal can be obtained. The strategic plan refers to a written document that details the step and processes required to reach plan goals along wit including feedback and progress reports for ensuring that the plan is on track. In order to ensure that the implementation process is successful, the leader needs to clarify their strategy by providing clear as well as conscience information in a way that an elicit organizationalcommitmentfromstaffswhosesupportishighlycrucialforthestrategic implementation (Van der Kolk & Schokker, 2016). This can only take place through effective communication through every organizational level by using several mediums for dispersing the information to the staffs (Ahearne, Lam & Kraus, 2014). In order to begin the implementation process, the questions that need to be considered by the strategy makers are as follows: 1.Who would provide direction on the strategic plan that would provide the right skills and competencies to support the plan?
3SWEDISH MEDICAL CENTER 2.Who are the individuals who will carry out the strategic plan? 3.What must be performed for aligning the operations of the company in the new intended direction? 4.How is everyone going to perform in order to fulfill the strategic plan? Strategy-Culture Compatibility It is really important to assess the strategy-culture compatibility during the implemention of a new strategy. While culture is a highly crucial aspect, it can be considered as the originator and thus the strategy follows.Culture can be defined as the value and behavior norms adopted by a group of individual. It refers to a set of common feelings, beliefs and perceptions about the value of the organization. A well defined and embedded culture reinforces work friendly environment in the organization (Jahanian et al., 2015). The power of culture is enormous when it comes to shape the performance of the employees of the Swedish Medical Center. Considering the fact that the culture of the mentioned healthcare home is free from work place politics and superior pressure, employee’s works in a work pressure free environment. The culture of the Swedish Medical home is found to be shape the attitudes and behavior of the employees (Heine etal.,2016).Accordingtoresearchers,thewellmaintainedworkplacecultureofthe organization is one of the chief reasons behind the effective results obtained by the strategic implementation (Jahanian et al., 2015). Thus, it can be clearly understood that in order to successfully implement the strategy in the business, culture should be given high importance. Six Sigma The term “ six sigma’ can be defined as a disciplined, data-driven, statistical based approach along with a methodology which is continuously improving for eliminating defects in a
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4SWEDISH MEDICAL CENTER product, process or services (Pyzdek & Keller, 2014). The sigma represents the population standard deviation which is a measure of the variation in a data set collected about the process. Van der Kolk & Schokker, (2016) defined six sigma as a set of management techniques that are intended to enhance business processes by dimishing the probability that an error or defect may take place. Several benefits of six sigma can be pointed out when it comes to the question of implementing the same. Some of the benefits that can be experienced by the Swedish Medical Center are as follows: 1.Enhanced consumer loyalty: Implementing Six Sigma demishes the risk of the company having dissatisfied consumers. Once the training is complete, the employees will be trained enough to satisfy the consumers (Evans & Lindsay, 2014). 2.Time management: Six sigma helps the management to manage time efficiently which in turn results in more efficient business. 3.Reduced cycle time: with the help of using Six Sigma, the mentioned organizationwill gain the potential of setting up a team of experienced staffs of all levels within the organization as well as from every functional department. Conclusion From the above discussion, it can be clearly understood that the mentioned organization is in such a position of its life cycle where it requires strategic implementation in order to enhance the business. Strategy implementation can be defined as the process implemented by the managers of an organization in order to put strategies ad plan into action, so that desired goal can
5SWEDISH MEDICAL CENTER be obtained. Along with this, the six sigma strategy will help the company to retain as well as enhace its consumer loyalty.
6SWEDISH MEDICAL CENTER Reference List Ahearne, M., Lam, S. K., & Kraus, F. (2014). Performance impact of middle managers' adaptive strategyimplementation:Theroleofsocialcapital.StrategicManagement Journal,35(1), 68-87. Evans, J. R., & Lindsay, W. M. (2014).An introduction to Six Sigma and process improvement. Cengage Learning. Heine, I., Beaujean, P., & Schmitt, R. (2016). Conceptual Framework for Analyzing the Fit between Organizational Strategy and Culture.Procedia CIRP,51, 79-84. Jahanian, M., TaghiAmini, M., & Branch, S. (2015). The Effect of Suitable Organizational CultureonImplementingStrategy(CaseStudy:TelecommunicationCompanyof Hamedan).International Business Management,9(7), 1809-1816. Koltun,P.,&Tharumarajah,A.(2014).Lifecycleimpactofrareearthelements.ISRN Metallurgy,2014. Nicolae, B., & George-Vlad, B. (2015). Life cycle analysis in refurbishment of the buildings as intervention practices in energy saving.Energy and Buildings,86, 74-85. Pyzdek, T., & Keller, P. A. (2014).The six sigma handbook(Vol. 4). New York, NY: McGraw- Hill Education. Van der Kolk, B., & Schokker,T. (2016). Strategyimplementationthrough hierarchical couplings in a management control package: an explorative case study.Journal of Management Control,27(2-3), 129-154.