Strategic Plan In-Home Health Care Services - Research Paper Example

Strategic Plan In-Home Health Care Services Mission statement To provide and offer efficient, timely and person-centered in-home healthcare services such as assisted living services, respite care services, senior or adult day care services, as well as in-home nursing care services to any availing individual. Vision statement Helping the aged, ill and injury requiring high-quality personal care live a healthy and magical life in their homes through professional assistance. Values Statement Offering person-centered services to any of our availing clients. The Business External Environment With the contextual in-home healthcare services business being based on a business perspective, such hence account that it is bound to the various aspects such as the external environment. The external environment will include the various factors, which are outside the company and has the potential of affecting the business ability to function (Root, 2016). External environment will include various elements, where some will when seconding Root (2016), it is worth noting that, some of the external environment will be manipulated by the business marketing and others will require the business to make adjustments. Concerning the above mentioned, this section takes the line to shed light on the hypothetical contextual in-home healthcare services business. The contextual hypothetical business will have its external environment comprise of various elements. These will include economy, the customers, government regulations, competition as well as public opinion. Each of the element will differently influence the contextual business functioning ability. First, with the customers in the contextual hypothetical business being patients and their families, worth noting is that the families and patients served in the business will have a great impact and influence in its ability to function. For instance, the families and patients perception of the service of the healthcare professionals to their patients will influence any referrals and recommendations that the patient and families can to other patients – the customers. As such and when seconding Root (2016), the contextual business will hence take the lane of developing a great relationship with their customers, the patients, and their families. The relationship will be based on the effort to find ways which can influence the clients in opting for their in-home healthcare services. To effectively influence the clients, the contextual hypothetical business will need to embrace solid marketing strategies which they ought to combine with the use of market research so as to determine the effectiveness of the marketing strategies. Such will help in deciding the changes that need to be embraced to enhance and facilitate an effective influence of the clients (Root, 2016). On the other hand, the government is also an element of the external environment of the contextual hypothetical business. For this, it will incorporate aspects such as government regulations. Notably, the contextual business is required to meet the necessary conditions as illustrated by the relevant authorities which will account for its licensing and operations. Besides, government regulations are subject to change, and new regulations will either favor or limit the business. For instance, when seconding Root (2016) in the case where the government regulations will result to more expenditure in the business, such will lead to the business increasing its service cost, which will hence affect the business margins. Such will be contrary, especially whenever the government regulations targets decreasing the service cost in the healthcare sector through aspects such as subsidies, which will consequently result to the business encountering an increased profit margin. In addition, competition and the public opinion are other elements that will feature in the external environment of the contextual hypothetical business. The two will affect the business ability to functions in various ways. For instance, in line with the competition, the contextual business will require implementing various effective ways which will enable it to address its target market. For instance, the business can opt to find the markets which its competitors are dormant in (Root, 2016).Alternatively, the business can decide to take on the competition directly in its target market. Worth noting is, either of the above-mentioned strategies that the business will adopt has its shortcoming and benefits. For instance, while the business will face a challenge on taking in the competition directly in the target market, in such a case, a failure of main its competitors in the market will act as a benefit to the business since it will be able to have an advantage of filling in the gap left by the declining competitor (Root, 2016). As such, it is therefore advisable that the business to embrace the best and effective strategy that will enable it to outstand the challenges of the stiff competition in its target market and at the same time, result to great profit. On the other hand, for public opinion, in agreement with Root (2016), the public opinion will affect the organization's functionality. With public opinion summing up to the business image, it is worth noting that, such will arise based on the operations of the business. For instance, in agreement with Root (2016), the presence of a scandal within the business as well as substandard healthcare services to the patients will damage the business image. The damage of the business image will result to the negative impact of its sales, while a good business image that will arise from a remarkable public perception of the business has the potential of boosting the business sales (Root, 2016). As such, there is the need for the business to embrace strategies that will help it has a good image through enabling a good public opinion, which can be achieved through aspects such as offering quality and timely services to the patients as well as use of public relations professionals who will release strategic information to the public as well as monitoring the information in the public and public opinion. Lastly, the economy is another crucial element within the external environment of the contextual hypothetical business, which will affect it. There are various ways that the economy will affect the contextual hypothetical business. These will mainly depend on the status of the economy. For instance, in the case where the economy is encountering inflation, such has the potential to affect the business in various ways such as regulation of its service price/ cost and regulation of its expenditure. Besides, the economy will also dictate the kind of target markets that the contextual hypothetical business will pursue. For instance, in the case of inflation, the contextual hypothetical business is more likely to target market comprised of customers who are not experiencing financial constraints such as the wealthy class. Such will be based on the fact that, the business will be targeting customers who can be able to pay as per their illustrated service cost which in such economy status such as inflation, their service price is likely to be high which account for the wealthy being the appropriate customers for the business( Root, 2016). SWOT Analysis SWOT analysis is a framework that is more often used as part of a business strategic planning. The framework is used to identify as well as analyses both the internal and external factors which are known to have an impact on the viability of the business (Rouse, 2016). When using the framework, more emphasis will be on four major aspects- weakness, strengths, opportunities as well as threats. Concerning the above mentioned, this section takes the lane to focus on the SWOT analysis of the contextual hypothetical business, that is, in-home healthcare service business. The contextual hypothetical business features various strengths, weakness, opportunities as well as threats. To start with, the business has strengths such as it has devoted a great part of its storage space to cabinets and lower-level drawers. Besides, the business also has embraced installing level style door handles which will meet the need of most of the adults who more often demand the ability to particularly live independently (Berman, 2016). Further to mention, the business also holds in the strength of offering specialized care to those the patients with conditions such as dementia. Memory loss as well as Alzheimer disease. Such is a major and critical service that is needed by the senior as their conditions worsen (Berman, 2016). The business will focus on walk-in closets which have the potential of reassuring the adult’s children that their aging parent is being taken care of. Such in agreement with Berman (20160 will also show the prospective residents that the business particularly has their comfort in their mind. On the other hand, the business has several weakness such as financial constraints which possess a major challenge to accessing capital for the growth of the business. Besides, the presence of expenses such as liability insurance will more often be a drain on the revenue. Such will be since, with the business being a small scale and very new, it will be less able to spread such costs to a large number of users (Berman, 2016). In addition, the business is prone to the weakness of having insufficient professional since it may be not able to employ and pay a lot of professionals. Such has the likelihood of leading to the weakness of delayed services to the patients due to an insufficient number of professionals in the business- a major cause for low customer satisfaction (Berman, 2016). With the above said, the business has various opportunities. These include, the business has room for expansion based on the fact that there is a rapid growth of demand than supply (Berman, 2016). Such is also facilitated by the aspect that the expansion in the industry of the business will not encounter the market risk as other industries. Besides, the business has the opportunity for expansion especially in the areas where the seniors have disposable income and hence can afford the business service which will account for the presence of a well-targeted marketing campaign increasing the awareness of the intended services that the business is willing to offer (Berman, 2016). In addition, the business has the opportunity to illustrate that the business strives to maintain as independent a lifestyle as possible for all the clients involved. Such will be achieved through the business adding services such as an extensive medical personnel array as well as an on-site pharmacy. Also, the business can add the service where it allows its patients to have a significant voice in the programming events as well as enriching other aspects that pertain the user experience (Berman, 2016). Contrarily, the business has threats such as increased regulations which will raise the business service cost. Such, in agreement with Berman (2016) has the likelihood and potential to being an entry barrier especially in the case where the busier is aiming at expanding to different states which have more strict regulations. Further, the business has also the threat of inadequate training as well as unprepared workers which likely will arise from the business desire to ramp up quickly with the new facilities (Berman, 2016). In addition, there is the threat of an economic downturn which is likely to eliminate a large portion of the business market since the senior and their families, who are the business main clients might re-evaluate the feasibility of the lower-cost solution. Lastly, the business also has the threat of a damaged public image which might arise from the various media stories relating to either the dangerous errors or unethical issues that the senior and their families encounters in the in-home healthcare services business. Such has the potential to make the potential customers more wary regarding the business operations which will, in turn, make it more difficult for the business to acquire new customers (Berman, 2016). Issues Arguably, just like other business, the contextual hypothetical business is bound to various issues. The issue can either be the immediate or long term. Immediate issues will also be referred to as short-term which will include issues such as few qualified applicants as staff. Besides, there is likely to be low capital as well as finances which will account for not only making priorities of operations but also the employment of few personnel’s as the staff. In addition, the business will be required to opt the cheapest strategies in the for different operations such as marketing strategies- a major aspect that will arise due to lack of adequate finances. What is more, the business is bound to the issue of stiff competition in its early operations stage. Contrary, the long-term issues will include expansion for growth. The expansion will focus on opening other branches of the business in different locations. Besides, the business is also bound to encounter the issue of adding and recruiting more professionals and personnel in order to cater the additional number of clients- patients. In addition, the business will also in long run encounter the issue of the need for a well-composed staff that will deal with areas such as marketing, administrative as well as public relations. Besides, the business is bound in the long run to encounter the issue of change of some of its regulations which will affect its operations. Strategic goals The contextual hypothetical business has various goals, which are both short term and long term. For short term, the business target to have acquired at least 3500 clients in the first 6 months, with half of the clients being fulltime clients. In the next following year, the business targets to have doubled the number of clients, which accounts for 40% growth rate. In the same year, the business targets to adding more equip as well as expanding its floor size area so as to offer space to the additional number of clients and the services being provided. Within five years, the business seeks to have opened other ten operational branches in different locations. In order for the business to achieve the above goals, it ought to embrace various strategies. Such includes proper marketing that will, in turn, help it to reach a large number of the target market. Besides offering efficient services in an effort to building a positive and good public image. The above two will ensure that the business gets more client and hence it's able to reach its target number of clients within the one year and even other years gradually. In addition, the business should also embrace offering additional promotional services which will help it raise more profit. It is through attaining more profits that the business will, therefore, be able to finance its expansion since it will have adequate finances for its intended growth and expansion such as the opening of branches. In conclusion, the contextual hypothetical business will require approximately 30 staffs. These will comprise of 16 nurses, 6 clinicians, 4 cleaners, 4 cooks. Each of the staff will have various roles based on their titles. For instance, the nurses will be more required in offering nursing care and administering of prescription to the patients while the clinicians will be required in not only diagnosing but also prescribing medicine to the patients. On the other hand, the cleaners will be involved with the general cleanliness with the cooks being involved in preparing meals for the patients- clients. To achieve the above mentioned, every personnel is crucial. However, the nurse will always come first for any new client. The nurse will hence listen and observe the patient, and in case of any medical condition call in the clinician. The nurse will be monitoring the patients, offering directions to the cleaners and cooks on the environment and dietary of each patient. References Berman, C.(2016).SWOT Analysis of an Assisted Living Company. Hearst Newspapers, LLC. Rouse, M.(2016).SWOT analysis (strengths, weaknesses, opportunities and threats analysis). TechTarget Inc. Root, G.(2016).Five Components of an Organization's External Environment. Hearst Newspapers, LLC. Read More