New study links with Generic Strategies
There are mainly three types of generic strategies, Cost Leadership, Differentiated, or Focus, and were discovered by the Harvard professor Michael Porter. In cost leadership strategy, a Hospitals sets out to become the inexpensive medical care and treatment services in the industry, and sets a goal to provide services for lower prices than other hospitals and clinics.
Differentiation is the second generic strategy that many hospitals used. It helps them to provide medical facilities, medicines or services with distinctive qualities. To succeed at this strategy, the hospital must have a highly skilled, educated and experienced medical team of doctors, nurses, surgeons, etc.
In focus strategy, a medical care hospital focuses on some specific medical treatments, services, patients, etc. The prime idea behind this is to serve a limited group of patients better than its competitors who serve a broader range of services to a large group of patients.Leave a reply →