Sickkids Hospital Case Study

Better Essays

The SickKids Hospital is mainly aimed at maintaining a suitable and financial status. The graphs provided above provide a suitable outlook of the hospital’s main source of revenue, available assets, and the specific areas as well as percentage of funds invested in children’s health. The main sources of revenue as presented in the pie chart include events, corporate partnerships, direct marketing, individual giving, net lottery, and parking fees. With the funds collected, a great percentage of the investment is directed towards child care, research, education, national and international relations. Through profitability generated from the performance, SickKids Hospital invests the remaining section of its funds to asset acquisition. The table …show more content…

Another problem involves the increased time required to identify a given issue, as well as the best practice to formulate and pass a given message. Finally, the hospital faces negative perception by the local patients, which is generated from individual beliefs and perceptions. To curb these challenges, the SickKids Hospital has developed a suitable financial base such as appropriate shareholder and investor inclusion to raise funds for their physicians, communication platforms, and education to alter the perception of the local individuals (Wong, 2012). Together with the inclusion of varying investors, the hospital has broadened its services to include indulgence in charity work. This enables the hospital to develop suitable corporate social responsibility strategies that boosts its finances. In additional, the charity work enables the hospitals to develop a suitable consumer environment that links its operations to its performance and productivity objectives. Donations and Christmas gifts have also contributed largely to funding the SickKids Hospital. Corporate programs within the hospital have been developed to ensure that donations and gifts are accepted at a specified time with suitable compensation for individuals who offer the

Get Access
Get Access