Strengths And Weaknesses Of Value Management

The purpose of the Competing Values Framework (CVF) is to facilitate the process of understanding the various management roles and how they can be applied more effectively in an environment of competing tensions. Each role is distinct and seemingly contradictory, but intertwining them is essential in order to achieve optimal efficiency; ultimately becoming a high performance manager. This “behavioral complexity"-the ability to deal with the competing demands through the mastery of seemingly contradictory or paradoxical roles differentiates the high performing managers from their counterparts (Hart & Quinn, 1993). In the process of becoming a high performance manager,

It is of great importance to make an analysis of the environment in which an organisation operates in order to develop and implement a suitable, successful strategy for the company. According to Johnson, Scholes and Whittington (2008) the business environment of a company is an important issue determining its survival and success. There are several layers of this business environment – the macro environment, the industry or sector layer, the layer with competitors and markets.

impact of the identified risks to the organization based on key business drivers (loss of life, loss of

341). It is aimed at identification of internal and external forces that may influence the company’s performance and choice of strategies in the future (Kotler et al., 1999, p. 111).

On the other hand, an external scan of the organization’s environment shows that the company is competitive in the market. The company is able to satisfy its customers as required. There are other competitors in the market that offer stiff competition to the organization. This is a threat to the company. The company has opportunities as well such as expanding its market to the international level. An external scan of the environment is able to provide the external opportunities and threat that the company has.

The EWF (n.d, p. 4) noted that each organization has a mission that it has to follow. That necessitates the need for protection from problems that can hinder the achievements of the mission. The risks that firms face differ depending on their activities. Risk management requires proper scope, assessment, resource mobilization, and prioritization of the implementation.

In every company, they deal with internal and external factors that affect every day business. External factors include oil price change, new laws and regulations for building codes, food distribution and many more. Companies that wish to succeed in their business should try and anticipate these internal and external factors. By identifying a companies opportunities and threats, a company can protect themselves from future harm and take advantage of opportunities that they have prepared for. Analyzing the opportunities and threats can be crucial for a company to turn a profit, expand the company across the country, and bring in and keep new and old customers.

Risk refers to a likelihood, probability, a chance that a loss may occur in a given organization. Most of the times, there is a high risk when there is vulnerability. In this case, vulnerability refers to a weakness that the organization has. Risk assessment refers to the process of identification of potential hazards and proper analysis of the expected losses if those hazards occur (Homeland Security, n.d.). Risk assessment as a way of profiling risk according to impact to the organization. Some organizations have business impact analysis exercises geared towards determination of potential hazards based risk assessment approaches. Organizations’ risk differ depending on the size and the type of business they are doing. The disparity in organizations’ risk call for different adaptation of risk assessment approaches. Even with the disparities of the businesses, proper risk management not only ranks the risks according to the seriousness but also identifies the best methods to control risks in an organization.

There are a few different reasons the authors I cited feel we are moving towards a more value and quality driven approach and feel we will continue to see an increased growth in new extender providers and provider categories. Phillips (2015) believes that the current high cost and low quality in relation to the cost will be a leading factor in why change will occur. Sachs (2015) believes that the high numbers of patient deaths due to patient errors is just simply unacceptable from a financial and ethical perspective. My own view on why these changes are most likely to happen is that our current national debt levels and changing economic conditions will require more thoughtful use of our healthcare resources. We simply will not be able to continue with the status quo for much longer. This can already be seen with changes in reimbursement models from insurance companies, and other payers are also unlikely to continue to pay for poor outcomes. A loss in funding is an obvious motivator for any business. The ACA has also made some advancements on moving us away from a fee system with little accountability towards a reimbursement system based on outcomes and results (Blumenthal, Abrams, & Nuzum, 2015). Readmission rates for Medicare patients have decreased 1%, which does make a sizable difference in cost. Implementation techniques through Centers for Medicare and Medicaid Services create incentives for lower hospital infection rates and safety initiatives and is given at least

A company’s strengths refer to what it does well to give value to the company. If a company’s resources and capabilities enable the firm to exploit an external opportunity and to neutralize an external threat, then those resources and capabilities are considered valuable, and are considered to be strengths (Barney & Hesterly, 2015, p. 67).

In this question we saw how to use industry and competitive analysis to assess the attractiveness of a company 's external environment. In this chapter, we discuss how to evaluate a particular company 's strategic situation in that environment. Company situation analysis centres on five questions:

These factors influence the internal environment of an organisation and they help in identifying the past and the present of the company, It also provides a frame work for reviewing strategy position and direction of the company.

1. Define the clearly value in the organization for product or service from the non-value activities

This analysis consists of analyzing the external environment of the company (competitors, social, technological, regulations, etc.). The purpose is to identify the key opportunities and threats in the environment.

It also aims to identify market place opportunities and threats in the external environment and to decide how to use their resources, capabilities and core competencies in the firm’s internal environment to pursue opportunities and overcome threats.