Good Example Of Company Overview Term Paper

Type of paper: Term Paper

Topic: Health, Nursing, Health Care, Medicine, Government, Hospital, Politics, Citizenship

Pages: 3

Words: 825

Published: 2020/12/18

Business Strategy and Optimizing Performance

Introduction
Adequate healthcare to a country’s citizens is an integral corporate citizenship bestowed on the government to invest necessary technological resources and human power. Health care management in the society is the foundation of economically energetic citizens, positive attitude and an enabling transformational culture that endeavor to develop practical approaches to life. However, sustaining a healthy society is an uphill task for most government with United States health care programs accounting for approximately 17% of the country’s Gross Domestic Product (GDP).

With the increasing attention on United States health care system through Obama care, John Hopkins Hospital would be the best station to launch my career as a physician. The Hospital is ranked among the best health care providers in United States especially due to its unique health care system. Its healthcare strategic plan incorporates teaching practices, biomedical research and treating patients in the primary, secondary and tertiary categories (The Johns Hopkins hospital, 2015).

Identify all the important stakeholders for the entity.

The success rate of health care systems and policy relies heavily on the influencing contribution of all pertinent stakeholders in the system. The John Hopkins stakeholders include Physicians, the federal government, donors, health researchers, suppliers and the surrounding community. Through integrated culture of these stakeholders, Hopkins hospital has been able to offer unprecedented health services to the US community and beyond.

Determine the primary aims/objectives of each stakeholder.

Physicians and health researchers
The hospital’s physicians include doctors, clerical officers, tertiary care specialists such as surgeons, nurses and primary care specialists who perform the immediate assessment of patient’s health.
The objective of the physicians is to provide unmatched diagnosis to the patients and ensure that they regain their normal body functioning through the right medication (Folland, Goodman & Stano, 2007).

Federal government

The federal government performs an oversight role on the hospital’s level of health care delivery by enacting universal health care policies as key drivers to an efficient heath care system. For instance, formulation of the Affordable Care Act of 2010 is a manifestation of the government’s objective of maintaining sanity and equal health care delivery through the hospitals and integrated healthcare provision centers.

Donors

The core objective of Hopkins hospital donors is to replenish the hospitals resources in an effort to accelerate universal healthcare provision to all citizens regardless of their cultural or ethnic diversity. Donors play a crucial objective role towards boosting the hospital capital resources above the government’s contribution.

Equipment and resource suppliers

The objective of the suppliers is to offer resourceful and efficient health products to enhance Hopkins Hospital endeavor to provide universal health care to the American and international citizens. In return, the suppliers expect an equivalent compensatory reward in monetary terms based on the effectiveness of the capital resources. They form part of the integrated family at Hopkins hospital that directly influences the level of health care delivery to the citizens.

The surrounding community

The aim of the surrounding community is to demand John Hopkins hospital’s corporate citizenship in adhering to the ethical principles as stipulated in the government’s health policies and regulations. The society keeps the firms in check to ensure that they embrace transparency, accountability and utmost care delivering quality products and services (Freeman & McVea, 2001).
C. Assess the power of each stakeholder to affect the company’s strategic plans, and how it may apply that power.
Interested parties in the health sector have varying influencing powers in promoting effective health care provision to the citizens despite their deviations in social and economic status.

Donors

The donors prioritize the effectiveness of health care delivery by committing funds and material resources to enable actual diagnostic of patients and engagement in health research by the hospital’ research. The donors’ power rests on demand for accountability and transparency in maximum utilization of donated resource. They dominate their power by requiring annual accountability report as well as observing the health trend in the society.

Federal government

The federal government’s power rests on health policy formulation and overseeing its implementation. For instance, Hopkins hospital is among the key hospitals entrusted to gear forward the success strategy of the Obama care Act that promotes universal health care service to all citizens. Hence, John Hopkins Hospital has invested enormous resources in technology in an effort to lower the cost of service delivery to the patients in line with the Obama Care Act advocacy for affordable inpatient and outpatient health care services.
Physicians and health researchers
Physicians and health researchers exert their power through extensive research on prevailing heath issues and conducting precautionary assessment on the possible eruption of health risks. Hence, John Hopkins management re-aligns its strategic plan to accommodate the proposed changes.
D. Explain how the company might respond to the possible actions of each stakeholder.

Invest in research and development

This response will augur well with health specialists and researchers endeavor to improve healthcare delivery.
Transparency by declaring annual financial report
Declaration of financial and performance report will maximize donors and government commitment to promoting the hospitals noble course in health care delivery.

Participating in educational and social health care initiatives in the community

This response will be in reaction to the society’s demand for corporate citizenship through educational health care programs.
E. Recommend tradeoffs that company managers could make to accommodate the stakeholders in a way that optimizes the company’s performance.

Participatory decision-making

This is the most appropriate trade-off that will capture all stakeholders’ emotions in steering the hospital’s objectives. Engaging patients in health decisions boosts their esteem and trust for health practitioners. Participatory leadership entails application of emotional intelligence by organizing discussion seminars to elaborate on the best strategies to sustain an organization’s goals (Epstein, Alper, & Quill, 2004). Despite its time-consuming factor, the trade-off is appropriate in promoting universal health care policies across the United States and beyond.

References

Freeman, R. E., & McVea, J. (2001). A stakeholder approach to strategic management.
Folland, S., Goodman, A. C., & Stano, M. (2007). The economics of health and health care (Vol. 6). New Jersey: Pearson Prentice Hall.
The Johns Hopkins hospital. (2015, March). Retrieved from www.hopkinsmedicine.org/the_johns_hopkins_hospital/
Epstein, R. M., Alper, B. S., & Quill, T. E. (2004). Communicating evidence for participatory decision making. Jama, 291(19), 2359-2366.

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