|Type of paper:||Business plan|
|Categories:||Organizational behavior Strategic management Business plan Business strategy|
The evolution and dynamics of the current business environment have obliged the Advocate Christ Medical Center to contemplate on the way it exists. The analysis and visualization of the overall effectiveness of the organization's business model is a strategic procedure that needs to be formulated prior to designing any strategy (Herrera, 2018). The major theme is to consider the value provided to the clients, which assists him or her in solving issues. The effectiveness is realized based on business procedures and resources and is delivered to the client via an efficient channel and relationship.
The overall efficiency of the Advocate Christ Medical Center Business Model Canvas is functional for the organization since it tends to appropriate a section of the delivered value. At the focus of the organization is its selection of a business model; however, the current business model of the medical center is inconsistent in terms of scope and uptake as the organization is always growing (Leschke, 2013). The absorption tends to be significantly impacted by the existing regional policies, medical governance codes, and listing obligations. On the other hand, inconsistencies in scope are associated with mixed interpretations of what is entailed in the business model.
Positioning the Business Model
It is noticeable that the various elements such as administration, capital, external factors resource allocation, future outlook, and performance and risk seem to be significantly interconnected. The organization is placed within a functioning context defined by the external elements; thus, encompassing the entire organization is its vision and mission, which set out the Advocate Christ Medical Center's purpose in precisely concise terms (Bisbal & Berry, 2011). Those individuals who have the responsibility of governance of the organization have the duty of building an active oversight structure, within the Advocate Christ Medical Center organizational elements are in dynamic flux, and the components are interacting at intervals regularly.
Additionally, constant assessment and monitoring and practical analysis of the external organizational factors in the context of the Advocate Christ Medical Center's vision and mission tend to determine the critical opportunities and risks that are considered relevant to the organization. The Advocate Christ Medical Center's strategies efficiently identify how the organization intends to optimize opportunities, regulate or mitigate risks. The business model set out objectives and methods on how to attaining such strategic objectives and goals of the organization. The model also stipulates how short term allocation of available resources plans to facilitate execution of the strategy.
The business model tends to effectively and efficiently draw on capital as inputs and via operations and convert those into services offered to the clients. The Advocate Christ Medical Center's activities and output tend to result in outcomes in terms of the impact of the capitals. For instance, some of the capitals that the organization applies and effects are it's own, and some of the capitals belong to the stakeholders as well.
The organization seems to possess adequate information about its performances, such as monitoring and assessment systems, data for decision making, which is well stipulated in the plan structure. However, the system is not actually static or permanent and thus a constant review of the business model's components and its other features in the organization's future content outlook resulting in refinement to enhance and improve all the components.
Relationship to the Capitals
The Advocate Christ Medical Center needs more capital as inputs to its business model since the organization is continuously expanding. Such capitals need to be transformed by the various activities of the organization which offers services. It seems that the rate at which such outputs build value significantly relies on the services provided. For instance, through the provision of the various services that appeal to the clients would enhance demand and thus generate enough revenue for the organization; however, the profitability of the demand of the organization's services rely on the market price structure that the services offered will command and also the cost structure in the supply chain. Additionally, factors such as innovation, customer satisfaction, ethical practices, and codes and impact on the environment are likely to impact on the brand loyalty of the organization significantly. The elements are to have a direct effect on the pricing, demand of the services provided, and cost of supply via the accessibility of supply chain and brand loyalty.
The Advocate Christ Medical Center's interaction with external and internal capitals is effectively highlighted in the organization's canvas. The capitals such as financial, human labor, and social relationship are highlighted and represent potential inputs to the organization's business models. It is evident that, in some instances, the organization does not seem to take charge of its use of capital; for example, when the organization uses societal assets like infrastructure.
Moreover, the activities of the organization tend to have a direct impact on the outcomes of the business model. For example, ethical practices in the service provider can possibly have a relatively positive result due to the organization's reputation. The outputs are typically noticed to be the services that are intended to give revenue for the organization. Nonetheless, some other outputs that are considered include waste and by-products. Those are effectively highlighted in the business model disclosure.
Again, the morale of the employees and the organization's reputation are some of the internal outcomes; and the outcome to the society includes environmental issues and customer value. On the other hand, the benefits that are generated by the organization, indicate a sharing of cost between the organization and the community.
Assessing the desired outcome of the Advocate Christ Medical Center against its performance and strategic objectives may result in changes to the entire organization's activities and strategies. Moreover, considering the whole value chain and not just the currently posed capital by the organization indicate that the strategy and current performances may not be maintained or sustained over time without a change in the business model of the organization since value creation is a process in which the available stock tends to be the capital accessible for the use by the business model.
The Advocate Christ Medical Center as an organization has identified critical input and the degree at which the said inputs are material, thus comprehending the resilience of the business model, how they link to the capital, or offer the source of differentiation. Moreover, the model entails an account of how the inputs connect to risks and opportunities, performance, and strategies.
Organization's Overall Success
The Advocate Christ Medical Center, as an organization, has tried to provide a comprehensive list of all resources used effectively. The emphasis also tends to be on those materials that are responsible for the organization's ability to initiate value in both the short and long terms. Again, the resources are having adequate explanations considering the whole chain. The organization has conclusively determined and explained its critical vulnerabilities in the business model associated with those constraints.
The organization seems to efficiently highlight the contribution to long-term business model achievement of several initiatives that impact on the efficiency and effectiveness of its activities such as training of employees and even the management of relationships. Moreover, a description of the various activities of the organization also encompasses how the organization distinguishes itself from the marketplace via service provision differentiation, the channel of delivery, and marketing. Furthermore, the model highlights the extent to which the business model canvas depends on the generation of revenue, such as extended warranty arrangements and home visits.
The Advocate Christ Medical Center has efficiently initiated the better application of technologies and efficiencies, alternative inputs to reduce the level of adverse environmental and social effects, and working on how to recycle some of the outputs. It has been at the forefront of facilitating and encouraging innovation as a culture. The organization's business model canvas also tends to have the capacity to efficiently and effectively adapt to changes, thus enhancing the organization's longer-term viability. Again, the business model's responsiveness to changes is appropriately discussed as well.
Trends in the Business Model and Organization
The business model has been of importance in the era of digital technology and capital investment. The tool provides an opportunity for a minimum period to assess and compare various programs within the organization (Ju et al., 2016). Evaluating the broad view of the Advocate Christ Medical Center as a business model canvas, the management tends to have expertly made use of the business model for administering the operations and strategies of the organization.
The business model canvas as a tool has been viewed as a reflection of the organizations. From the observation, the model is applied to conduct several tasks some of which include the following extensively comprehending the logic of the organization, and the development of the adoptions of various changes externally, the business model serves as the foundation for different strategic planning modeling of the organizations, the design of new conceptual solutions in the service line, the business model is also used as a tool to build a single communication space in regards to the logics of the organizations and the entire administration of the organization, and even in training of professional managers since the organization is very adaptive (Fritscher & Pigneur, 2014).
Based on the observation and assessment of the Advocate Christ Medical Center, it is evident that the information technology department tends to be the most favorable of the existence of various innovative solutions that the organization is laying the basis of the effectiveness and success of the business model. In the future, new information technology solutions in the organization are expected. Additionally, the maximization of the business process based on the new information technology solutions will enable the creation of new business models with several monetization procedures and services.
The advancement in the field of information technology and the emergence of new tools of management has enhanced the development of networks of business models since the organization has created a division of service. For the Advocate Christ Medical Center, several business activities are actually availed for sharing. Due to the application of multilateral platforms, an open innovation model has been created on the basis of network interactions with dynamic teams, which are incorporated to execute a specific idea to enable the transformation to a more complex organization. Additionally, it is possible to alter the responsibilities of the clients at some stages when the client takes over individual tasks such as self-care.
The organization tends to spend additional revenue on marketing and advertising; however, it offers other services such as optimization in traffic on the organization's websites.
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Paper Example. Business Model Assessment. (2023, Mar 21). Retrieved from https://speedypaper.com/essays/business-model-assessment
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