Strategic management Article Example | Topics and Well Written Essays - 750 words

Strategic management - Article Example This presence can further intensify the competition as more and more niches within the market are developed. There can be opportunities specially in terms of offering comprehensive services under one roof because most of the players are focused on providing specialist services and are not clearly focused on universal medical services under one roof. 2) Due to lack of more sophisticated hospitals in non-urban areas, the overall bargaining power of consumers may be low. However, due to overall size of the healthcare suppliers, there is relatively higher bargaining power available to suppliers i.e. physicians, medical professionals, healthcare supplies etc. The fact that RRMC was not able to procure some of the supplies required for essential procedures therefore outline that due to demand and supply dynamics of medical supplies suppliers, they are yielding more power. The overall competitiveness and the lower concentration of high quality services providers in the non-urban areas there fore make it relatively more lucrative for new players to enter into the market. The chances for the substitute products to dominate the market are relatively low because alternative medicine is not common yet and therefore may not take place of the traditional services offered. The overall rivalry in the industry therefore is relatively high due to the fact that more and more players may enter into the market and serving different niches of the market. 3) One of the key competitive advantages of RRMC is its ability to offer different services under one roof. Started as an acute services provider, RRMC developed itself into a larger healthcare services provider by including innovative services such as heartburn treatment center, chest pain treatment, and diagnostic services along with other general services. This therefore can serve as one of the key competitive advantages for RRMC and can distinguish it from other players in the market which are mostly focused on providing selectiv e services. This competitive advantage could be sustainable if RRMC is able to continuously upgrade its operations and bring in more innovativeness in its operations. An expanded base of services coupled with latest technology therefore can surely help RRMC to maintain its competitive advantage and sustain it for longer period of time. 4) A closer analysis of the facts provided in the case study suggests that RRMC’s inbound logistics may have minimum impact on its competitiveness. However, the operations of the hospital are really critical and are probably the major source through which it generates its competitive advantage. The network of different departments and services including outpatient departments therefore can serve as the outbound logistics of the firm. Outbound logistics of the firm coupled with operations of the firm work in tandem to offer RRMC a unique advantage in the market. The use of membership incentives through MedKey program can also serve as one of the key sources for competitive advantage of the firm. Through this, hospital has been able to achieve both the retail i.e. individual as well as local businesses as customers and offered them bundled services. The use of internet for the purpose of market can also be considered as key part of the overall marketing campaign of the hospital to maintain its competitive advantage. Since the essential nature of the hospital is to provide healthcare servic