Supports the strategy of increasing global reach of the company and strengthening the ability to recruit physicians in key specialties.
Draws on a competitive advantage of specialist expertise and high performance of Rashid and markets this strength to bring in more German and British clients
Supports the pursuit of international standards as defined within the Strategic Plan.
Yes; also increases the stature of the facility and enhances the ability to recruit world-class physicians.
Invest heavily in medical research in cardiology and vascular research
This investment is focused on making Rashid Hospital a center of excellence in cardiology and vascular surgery, attracting the world's best surgeons to research and practice in Dubai at Rashid Hospital.
Draws on an emerging competitive advantage in vascular surgery.
Yes, in fact it perfectly aligns one of the key strategic plan objectives of the hospital.
Yes, it is consistent with the mission, vision, and values of the hospital.
Discussion of the specific methods to evaluate strategies
In evaluating the future direction of strategies for Rashid Hospital, Boston Consulting Groups' Growth/Share matrix that maps services by share of market relative to market growth rate needs to be included in the set of tools that are used for planning the growth of services. The Growth/Share matrix was created by the Boston Consulting Group (2006) to assist companies in defining their strategies for products varying in terms of their industry attractiveness, market share, and growth rates. For Rashid Hospital this analytical...
The BCG matrix is also useful from a competitive analysis perspective as well. When combined with the experience curve, also created by Boston Consulting Group, the combination of analytical insights for Rashid Hospital could give them significant competitive advantage. The BCG matrix is another term for portfolio analysis.
References
Boston Consulting Group (2006) - Definition of Growth/Share Matrix from Boston Consulting Group; Accessed from the Internet on December 2,2006:
http://www.bcg.com/this_is_bcg/mission/growth_share_matrix.html
Porter (1990) - The Competitive Advantage of Nations. New York: Free Press, 1990. (Republished with a new introduction, 1998.)
Porter (1985)- The Competitive Advantage: Creating and Sustaining Superior Performance. N.Y.: Free Press, 1985. (Republished with a new introduction, 1998.)
Porter (1980)- Competitive Strategy: Techniques for Analyzing Industries and Competitors. New York: Free Press, 1980. (Republished with a new introduction, 1998.)
The World Is Flat (2005) - Thomas R. Friedman, author. Farrar, Straus, and Giroux. New York, NY. Published 2005
Department of Health and Medical Services (DOHMS) Statistical Report (2005) - Comprehensive Report on Statistical Analysis of the hospitals comprising the DOHMS Series of Hospitals. Accessed from the Internet on December 4, 2006 at http://dohms.dubai.ae/opt/CMSContent/Active/DOHMS/en/Documents/Annual_Statistical_Book_2005_1.pdf
Figure 1:
Porters' Five Forces Model
