FORMULATING BUSINESS STRATEGIES FROM A STAKEHOLDER'S PERSPECTIVE: KOREAN HEALTHCARE IT BUSINESS CASES

2005 ◽  
Vol 04 (04) ◽  
pp. 541-566 ◽  
Author(s):  
GEUNCHAN LIM ◽  
HEESEOK LEE ◽  
TAEHUN KIM
Keyword(s):  
Development Strategy ◽  
Social Performance ◽  
Business Environment ◽  
Business Strategies ◽  
Strategy Development ◽  
Strategy Formulation ◽  
Strategy Evaluation ◽  
Healthcare It ◽  
Analysis Strategy ◽  
Business Cases

The management of competing stakeholders has emerged as an important topic for formulating business strategies. This is especially the case in the complicated business environment like the healthcare IT (Information Technology) industries. This paper proposes a methodology to formulate business strategies based on stakeholders' demands. Our methodology begins with the understanding of stakeholders' demands. This understanding is particularly useful for businesses with conflicting stakeholders. Our methodology consists of four phases: current business analysis, strategy development, strategy evaluation, and strategy implementation. Power, legitimacy, urgency, interdependence, cooperation, and conflict are used as stakeholders related variables. Strategic alternatives are derived on the basis of stakeholders' demands. Resolution, replacement, integration, reaggregation, and balance guidelines are employed for this derivation. Strategic alternatives are then evaluated according to a business social performance index. In order to demonstrate the practical usefulness of our methodology, three business cases for the Korean healthcare IT industry are illustrated. The case results imply that our methodology is useful for strategy formulation, especially in the case of competing business stakeholders.

scholarly journals Aligning business leadership development with business needs: the value of discrimination

2008 ◽  
Vol 27 (9) ◽  
pp. 912-934 ◽  
Author(s):  
Catherine Bailey ◽  
Martin Clarke
Keyword(s):  
Leadership Development ◽  
Development Strategy ◽  
Management Development ◽  
Strategy Development ◽  
Strategy Formulation ◽  
Business Leadership ◽  
Content Type ◽  
Business Context ◽  
Informal Activity ◽  
Current State

PurposeThis paper is derived from a two‐year study that sought to provide a critical understanding of the current state of business leadership development (BLD) and to identify directions for innovative future practice. The first of two companion papers, this contribution aims to examine the issue of achieving business relevance in BLD and the quality of HR/management development strategy formulation.Design/methodology/approachThe paper analyses four organisation case studies of BLD strategy derived from interview data sourced from 103 senior line/HRD managers in 20 organisations.FindingsThe findings highlight the need for HRD managers to take a discriminating approach to linking BLD strategy, development method, evaluation and the role of management development. In particular, the cases studied reflect the importance of informal activity and politics in the execution of BLD and the positive effect of individual leadership in moderating the effectiveness of the linkages between business context, BLD strategy and its implementation.Practical implicationsThe paper provides a conceptual framework to enable practitioners to discriminate between different bundles of development practices that can, over time, be translated into behaviours that suit the changing needs of an organisation. A list of useful starting points is provided for managers to review and improve BLD strategy and practice in their own organisation.Originality/valueThe paper provides a framework that shows the importance of different development populations, different sponsors, interest groups and strategic timeframes in enabling more informed discussion about the strategic alignment of BLD.

scholarly journals Perumusan Staregi Bisnis untuk Perusahaan Youngsterpro dalam Rangka Meningkatkan Kinerja

2019 ◽  
Vol 3 (6) ◽  
pp. 48
Author(s):  
Fenty Febrianty
Keyword(s):  
Development Strategy ◽  
Field Research ◽  
Alternative Strategy ◽  
Business Strategies ◽  
Strategy Formulation ◽  
Improve Performance ◽  
Diversification Strategy ◽  
Internal Factors ◽  
Swot Matrix ◽  
Space Matrix

This research was conducted to help Youngsterpro companies determine appropriate business strategies in order to improve performance. This study applies qualitative methods through field research to the parties concerned in obtaining information, besides that also based on literature studies and analytical methods in strategy formulation here consists of three stages, the input by analyzing SWOT, EFE matrix, IFE matrix to summarize the basic information used to produce an alternative strategy in Matching stage, is the second stage, by aligning external and internal factors using the SWOT matrix and SPACE matrix, and the last is the decision making stage to determine the best strategy for the company based on the attractiveness of each strategy objectively through the QSPM matrix . The results of the study recommend Youngsterpro companies to consider a diversification strategy because it is the best strategy that is most appropriate for Youngsterpro besides that the product development strategy can also be considered as an alternative strategy to improve performance.

scholarly journals Strategy Development of Community Base Tourism in Tidung Island, Jakarta

2018 ◽  
Vol 5 (4) ◽  
pp. 17
Author(s):  
Dhian Tyas Untari ◽  
Muhamad Syahiddin Syahiddin ◽  
Paryono Paryono
Keyword(s):  
Development Strategy ◽  
Success Factors ◽  
Tourism Development ◽  
Strategy Management ◽  
Provincial Government ◽  
Strategy Development ◽  
Development Programs ◽  
Strategy Formulation ◽  
Community Based ◽  
Tourism Governance

The aim of thus study is to establish a community-based tourism development strategy in Tidung Island. Researcher use Strategy Management matrix, In this research, tourist entrepreneurs and tourist as an observation unit and is determined as an analysis unit of the company that is the decision makers are very influential in the company itself, including related Human Resources, Finance, Production, and Marketing. Eigen Factor score is use ase the weighting input data from the results of questionnaires. From the questionnaire, a score is obtained from the average given by the respondents at each key success factors, where in the input process the researcher used IFAS / IFAS Matrix, and in the process of strategy formulation, the researcher used the recommendation from the Grand Matrix Strategy output. The results of the output recommendations, which will then be implemented in the development of community-based tourism on the island of Tidung. Based on the Grand Matrix Strategy chart seen that the outline of Tidung Island tourism into the weak category, where the quadrant Challenges and Weaknesses is much greater than the strength and opportunities. Thus the strategy that can be done is with; improve tourism governance by maximizing the function of tourism development programs of DKI Jakarta Province, encouraging the Provincial Government of DKI Jakarta to allocate funds and attention to alternative tourism such as marine tourism located in Kepulauan Seribu, maximizing Community Service Activities of Higher Education as a medium of knowladge community transfer Tidung Island, improving the mode of transportation and increasing the frequency of ship felling Jakarta - Pulau Tidung.

scholarly journals CLINIC-Q MEDICAL AND DENTAL DEVELOPMENT BUSINESS STRATEGY WITH SUSTAINABLE DEVELOPMENT PERSPECTIVE

2019 ◽  
Vol 4 (2) ◽  
pp. 108-118
Author(s):  
Iik Yani Hidayati ◽  
Muhammad Firdaus ◽  
Bunasor Sanim
Keyword(s):  
Development Strategy ◽  
Business Strategy ◽  
Financial Statements ◽  
Business Development ◽  
Strategy Development ◽  
Market Penetration ◽  
Strategy Formulation ◽  
Sustainable Business ◽  
Questionnaire Assessment ◽  
Development Perspective

This research is research related to the formation of strategy development in a clinic. The Discussion is aimed at the theme of the clinical business development strategy. In addition, the discussion will use a sustainable business development perspective. Data collected is sourced from experts with different expertise. Assessing experts were asked to provide a questionnaire assessment related to the internal environment and the external environment of the clinic. Financial statements used are from 2015 to 2017. Assessment results from experts are then adjusted to the IE Matrix to obtain the company's strategy formulation. After obtaining the strategy formulation, the best strategy for the clinic was conducted using the QSPM approach. Results of the study show that the position of the clinic-Q Medical & Dental is in quadrant 1 which means the clinic is recommended for development. In addition, based on the assessment of QSPM, it is found that the company can implement product development, integration and market penetration. On the other hand, clinics are also advised to continue to increase their role in protecting the environment.

scholarly journals Analisis Strategi Pengembangan Usaha Golden Berry atau Ciplukan di Waida Farm

Jurnal RASI ◽  
2021 ◽  
Vol 1 (2) ◽  
pp. 119-132
Author(s):  
Ghita Dwi Saputri ◽  
Tri Hanifawati
Keyword(s):  
Development Strategy ◽  
Competitive Strategy ◽  
External Environment ◽  
Business Environment ◽  
Matrix Analysis ◽  
Structured Interviews ◽  
Strategy Formulation ◽  
Physalis Peruviana ◽  
Managerial Implications ◽  
Processed Products

Waida Farm is an agribusiness pioneer company that cultivates golden berries or ciplukan (Physalis peruviana) and successfully develops various processed products. To increase Waida Farm competitiveness in the future, the formulation of the business development strategy based on its internal and external environment is necessary. This study aims to provide an alternative of competitive strategy formulation with a deeper understanding of its internal and external environment. Data collected through semi-structured interviews and observations in the business environment. Data analyzed using descriptive method refers to significant findings from interviews and observation results. The formulation of alternative strategies conducted using IFE-EFE Matrix, IE Matrix, and SWOT Matrix analysis. The results show that the best alternative competitive strategy for Waida Farm is an intensive strategy through integrated market penetration and product development strategies. This finding provides several managerial implications for the companies described in the discussion.

scholarly journals Business Strategy Formulation for Training Company in Captive Market

2021 ◽  
Vol 6 (4) ◽  
pp. 143-149
Author(s):  
Denada Tirta Amertha ◽  
Alla Asmara ◽  
Setiadi Djohar
Keyword(s):  
Business Strategy ◽  
Business Environment ◽  
Strategy Implementation ◽  
Business Strategies ◽  
Business Unit ◽  
Strategy Formulation ◽  
Integration Strategy ◽  
Swot Matrix ◽  
Strong Position ◽  
Training Company

This study aims to formulate a business strategy at a training company (PT PTC) as a lead training provider in facing competition in the Pertamina Group market (captive) and in the non-captive market. The internal business environment was identified using VRIO analysis and evaluated using the IFE Matrix, while the external business environment was identified using Porter's Five Forces and evaluated using the EFE Matrix. The formulation of alternative business strategies in the PTC training business unit is carried out using the SWOT Matrix which is then outlined in the business strategy implementation roadmap. The results showed that PT PTC's training business unit was in a position to grow and develop with good internal capabilities in using strengths and minimizing weaknesses (score 2,570), and in a strong position to respond to opportunities and threats (score 3,042). The results of the VRIO analysis obtained 4 future competencies for strategy formulation on the SWOT Matrix and obtained 9 alternative intensive strategies in the form of market penetration strategies, market and product development as well as 1 horizontal integration strategy, then ranked using QSPM for a roadmap of PTC training business strategy implementation in 5 years front.

scholarly journals TALENT MANAGEMENT AS AN INDISPENSABLE ELEMENT OF THE COMPANY'S DEVELOPMENT STRATEGY

2017 ◽  
Vol 11 (3) ◽  
pp. 149-161 ◽  
Author(s):  
Александра Панова ◽  
Alyeksandra Panova ◽  
Татьяна БАУРЧУЛУ ◽  
Tatiana BAURCHULU
Keyword(s):  
Development Strategy ◽  
Business Strategy ◽  
Rapid Development ◽  
Modern Society ◽  
Talent Management ◽  
Business Environment ◽  
Business Strategies ◽  
Main Element ◽  
Personnel Development ◽  
Highly Qualified

This article examines the principles on which the successful development of the personnel development strategy is based, with its main element - talent management, as well as its relationship to the overall business strategy of the organization. The person simultaneously acts as the object and the subject of management. To date, the growing role of man is due to the rapid development of the surrounding world, its transition to an information society for which time and knowledge are the greatest achievements in competition. Modern society is a complex multifunctional system. Therefore, one fact remains unchanged: workers are the basis of any enterprise, and their significance is reinforced by strategic competitive advantages of the enterprise, which are largely based on the applying necessary knowledge, skills and competencies in the changing business environment. The authors consider the approaches to the process of forming the personnel development strategy in an organization, and the relationship between business strategies and private strategies. The article also describes the main economic instruments and principles used in the drafting the personnel development strategy. The article defines the need to develop a talent management system that brings the human element to business strategy and business planning, giving people the close attention that they deserve. Russian organizations are increasingly interested in managing talented employees. Although so far the introduction and application of these solutions still remains the lot of large companies that have the capacity to grow additional human resources capabilities, as well as possessing a stable base of personnel management. However, in recent years, the demand for automation of talent management processes has increased several times. The demand for highly qualified employees and managers that is increasing with the market does not meet the offer. Effectively formed and implemented talent management as an element of the personnel development strategy is the guarantor of a purposeful and pre-conceived process of using and developing employees in order to achieve the strategic goals of the enterprise.

scholarly journals Corporate Social Performance: An Assessment Model on an Emerging Market

2020 ◽  
Vol 12 (10) ◽  
pp. 4077
Author(s):  
Cătălina Silvia Crișan-Mitra ◽  
Liana Stanca ◽  
Dan-Cristian Dabija
Keyword(s):  
Corporate Social Performance ◽  
Social Performance ◽  
Emerging Market ◽  
Sustainable Growth ◽  
Assessment Model ◽  
Business Strategies ◽  
Strategy Development ◽  
Managerial Behavior ◽  
Company Strategy ◽  
Corporate Social

This paper investigates the priorities governing large companies in an emerging market regarding corporate social performance (CSP). The authors propose profile patterns of responsible managerial behavior and a framework for evaluating CSP relying on stakeholder theory. The study relies on a statistical analysis which is designed to examine the significance of corporate social responsibility (CSR) practice as it emerges from company business strategies. Taking the form of an empirical study involving 87 managers, this work relies on the cluster analysis theory, identifying six behavioral patterns when considering CSR practices: “lethargic”, “compliant, “pragmatist”, “auditor”, “formalist”, and “performer”. The cluster typology indicates the complexity of CSR practices and highlights the role of CSR in company strategy development. The proposed assessment model is intended to empower CSP diagnosis, while supporting management towards achieving sustainable growth.

scholarly journals STRATEGIC MANAGEMENT PRACTICES AND PERFORMANCE OF PUBLIC HEALTH INSTITUTIONS IN MANDERA COUNTY, KENYA

2017 ◽  
Vol 5 (12) ◽  
pp. 156-168
Author(s):  
Ibrahim Ahmed Issack ◽  
Stephen M. A. Muathe
Keyword(s):  
Public Health ◽  
Environmental Analysis ◽  
Management Practices ◽  
Strategy Implementation ◽  
Strategy Formulation ◽  
Strategy Evaluation ◽  
Analysis Strategy ◽  
Public Health Institutions ◽  
Health Institutions ◽  
And Performance

The general objective of this study was to look at strategic management practices on performance of public health institutions in Mandera County. This study sought to examine the influence of environmental analysis on performance of public health institutions, to establish the effect of strategy formulation on performance of public health institutions, to determine the impact of strategy implementation on performance of public health institutions and to find out the effect of strategy evaluation on performance of public health institutions in Mandera County. This study adopted a descriptive survey. Mandera County has a total of Fifty (50) public health institution. The study targeted one hospital administrators from five (5) Sub-county Hospitals, Two (2) staff from Mandera Referral Hospital (Director of Medical Service and Administrator), nineteen (19) Health Administrators from Health Centers and twenty five (25) nursing officer in charge of dispensaries thus totaling to Fifty one (51) respondents.The findings revealed that environmental analysis, strategy formulation, strategy implementation, strategy evaluation and performance of public health institutions in Mandera County are positively and significantly related. Correlation analysis showed that environmental analysis, strategy formulation, strategy implementation and strategy evalaution are significantly and positively related to performance of public health institutions in Mandera County. Based on the findings the study concluded that environmental analysis, strategy formulation, strategy implementation, strategy evaluation affects performance of public health institutions. The study recommends that public health institutions formulates strategies that can enable them to define their corporate mission, specifying achievable objectives, develop strategies and setting policy guidelines.

scholarly journals Algorithm for developing and implementing enterprise strategy

2021 ◽  
Vol 2 (99) ◽  
pp. 302-309
Author(s):  
N. O. Blenda ◽  
◽  
I. I. Cherneha
Keyword(s):  
Development Strategy ◽  
Internal State ◽  
Continuous Process ◽  
External Environment ◽  
Business Environment ◽  
Strategy Development ◽  
Enterprise Strategy ◽  
Strategic Development ◽  
Strategic Goals ◽  
Projected Changes

The article examines the theoretical and methodological foundations and existing approaches to the process of developing an enterprise development strategy. It is established that the procedure of development and implementation of development strategy is a debatable issue among scientists, who determine different methodological approaches to the main stages of strategy development and implementation, components of this process, the relationship and interdependence between them. Based on the research, we propose to identify three stages of the strategy development process, combining 8 phases. The first stage - preparatory or analytical, includes a step-by-step comprehensive strategic analysis of the external and internal environment. The second stage defines the process of strategy development, which includes 4 phases: formulation of the mission; substantiation of strategic goals and determination of strategic gap; development of alternative strategies taking into account the limitations and possible risks, identification of promising and priority areas of development; choice of development strategy. The third stage - the realization of the strategy combines the stages of implementation of the strategy, its evaluation, and adjustment in accordance with unforeseen changes in the external environment. The defined stages of strategy development characterize the current state of the object, the forecasted goals of its development, and actions to achieve them. An important stage in developing a strategy is analytical. It determines the internal state of the system and its necessary changes, in accordance with the projected changes in the external environment, to achieve certain strategic goals. In general, the strategic development of the enterprise is a continuous process of formation and implementation of management decisions aimed at ensuring the strategic dynamism and effective operation in conditions of increased complexity and unpredictability of the business environment.

Sign in / Sign up

Export Citation Format

Share Document