Adaptive Strategy
An outpatient surgery center that is faced with one major competitor needs to establish an effective adaptive strategy to remain relevant and strong in the surrounding service area. The strategy would enable the surgery center to achieve its vision by understanding its operating environment and learning how to handle emerging issues. It can involve enhancing the performance of staff beyond that of the competitor. The health organization needs to ensure effective utilization of the available resources and efficiency in its operations. Adaptive strategies can be implemented through enhancing cooperation and internal development to provide better services to a client base. It should be focused on improving the control of the market by ensuring the provision of the best quality care to patients (Laccetti et al., 2020). Outdoing the competitors requires the adoption of effective measures to maintain existing and attract more clients. Since the operating environment is competitive, effort should be made to identify weak areas requiring improvement. It should embrace competitive strategies to ensure that it retains the leading position in the market.
Boston Consulting Group’s (BCG) analysis can support the development of an effective adaptive strategy for the outpatient surgery center. The portfolio is beneficial in identifying categories of services provided depending on whether they require massive investment, provide the necessary cash flow, or generate returns. BCG would help determine operations that should be continued or discontinued depending on whether they offer sufficient returns to sustain the business (Bennett, 2017). It would also offer guidelines and skills for determining the strengths and needs of the center. By providing a full picture of the business position, it becomes easier to make management and investment decisions.
Threats, opportunities, weaknesses, and strengths (TOWS) can help evaluate the effectiveness of the adaptive strategy taken by the outpatient surgery center to enhance its competitiveness. It entails a matrix that offers a framework to compare, create, assess, as well as determine the most appropriate business strategy. It can evaluate the outpatient surgery center from a practical approach while paying attention to the marketing and administration. Amalgamating strengths and weaknesses with opportunities and threats can facilitate business evaluation and determine the effectiveness of the adoption strategy (Laccetti et al., 2020). The analysis can explain the market position of the center and help determine areas whether strategic changes are necessary. It begins with the evaluation of external opportunities and threats. The evaluation can support the adoption of long-term strategies and insight. It then intertwines the internal with external analysis to establish an effective strategy. The matrix goes deeper than the SWOT analysis to evaluate the changing competitive landscape. It supports the creation of innovative ideas to enhance protection against unfair competition and improve decision-making.
Market Entry Strategy
Direct investment is the single most appropriate strategy to support market entry and achievement of the adaptive strategy. It would enable the center to attain a lasting interest in the market and remain determined in the delivery of quality care to patients. The approach would enhance the management of the center and encourage the consideration of different factors to influence its success (Seid, 2018). The approach can enable the facility to attain full control over the market operations and gain improved competitiveness.
The management will be responsible for ensuring that the center operates in a manner that generates returns and remains focused on the achievement of its ultimate objectives. The strategy would enable the facility to offer assurance to its patients that the best quality care would be ensured all the time. Since the surgery center deals with sensitive cases, direct investment is the most appropriate strategy because it promotes control over operating activities (Seid, 2018). Gaining full control of every activity means that the center will be better placed to plan and develop strategies to outdo the competitor. The market-entry approach would improve productivity and subsequent profitability in the center. Direct investment improves capital flows, operational procedures, and competitive advantage. More resources would be mobilized to support organizational growth and development. It would become easier to achieve better satisfaction of patients and limit the chances of failure.
Porter’s Five Forces can help evaluate the adopted market entry strategy. It offers a framework to support evaluating and assessing the market position and competitive strength. The attractiveness of a market and competitive intensity are influenced by five forces. The evaluation component can be used to measure the effectiveness of the direct investment as a market entry approach. It can determine where more investment is required in the outpatient surgery center (Laccetti et al., 2020). Porter’s five forces explain that direct investment is effective in strengthening the business and current competitive position. The tool can help the center to understand whether it is making profits and identify areas requiring improvement to promote overall productivity. Porte’s five forces evaluate the bargaining power of patients, the bargaining power of suppliers, threats of new entrants, and the threat of substitute products. It helps determine whether there exist threats of substitute services in the market. Since the facility is faced with a major competitor, it is important to establish measures to boost competitiveness.
References
Bennett, J. W. (2017). Northern plainsmen: adaptive strategy and agrarian life. Routledge.
Buckley, P. J., Clegg, L. J., Voss, H., Cross, A. R., Liu, X., & Zheng, P. (2018). A retrospective and agenda for future research on Chinese outward foreign direct investment. Journal of International Business Studies, 49(1), 4-23. Web.
Laccetti, G., Lapegna, M., Mele, V., Romano, D., & Szustak, L. (2020). Performance enhancement of a dynamic K-means algorithm through a parallel adaptive strategy on multicore CPUs. Journal of Parallel and Distributed Computing, 145, 34-41. Web.
Seid, S. (2018). Global regulation of foreign direct investment. Routledge.