What entails and what changes need to happen
Read and respond in no fewer than 50 words to at least 2 of your peers’ posts.
Peer 1:
Adaptive, Market Entry/Exit, Competitive
As managers grow in their roles, it doesn’t matter how much training they can receive, they are going to grow in their leadership roles through experience more than anything else. With growth comes change and the change can occur in the organization’s strategy. Changes in an organization’s adaptive strategy create drastic changes that are rare for stable environments but are more common for dynamic environments. Changes in an organizations market entry/exit strategy represent a new way of operating and changes the entire orientation of the organization externally. Changes in an organization’s competitive strategy represent their position and strategic posture and initiate substantial change throughout the organization. In terms of the strategies that would be most likely to change, I believe that the competitive strategy would be the strategy that would be the most likely to change. These mangers will most likely be in a stable environment, which would rule out major changes in the adaptive strategy. The mangers would also not want to change the market entry/exit strategy because they would not want to change their entire orientation. That leaves the strategy that is the most likely to change the competitive strategy because they would like to improve their posture and position.
Ginter, P., Duncan, W. J., Swayne, L. (2018) Strategic Management of Health Care Organizations. Eight Edition. John Wiley & Sons, Inc: Hoboken, NJ.
Peer 2:
As managers, it is crucial to understanding what entails and what changes need to happen to be a well-fit manager for any organization. For instance, as having an adaptive strategy, those strategies are about expansion and not execution. These adaptive strategies are what is helping an organization grow overall but has limitations when it comes to managing because things are always changing. For example, a manager might have specific criteria that they look forward too, but sometimes there need to be changes implemented into it, to have the change be beneficial or effective. The adaptive strategy also deals with market entry/exit when it comes to organizational growth, which affects change greatly.
Moreover, market entry/exit represents a new way of doing business (Ginter, Duncan & Swayne, 2018, pg. 305). For example, if an organization is looking for an internal and external factor to help grow their company, then, they would look at factors that will give them insight on how the marketplace is and what ideas to input. Also, this might include what is good for the organizational standpoint in the external factors of things such as mergers, vendors, and sales.
Furthermore, a purchase strategy is what deals with financial resources, which include acquisition, licensing, and venture capital investment (Ginter et al., 2018, pg. 231). An acquisition, for instance, is what will change the most because it deals with technology, product development, and even market development. In a health organization, these factors will always change due to the economy and other health entities that are changing periodically. For instance, a companies product may change because there is a new development that is on the market. As a manager, new products means new ideas and new ways to implement it into the organization and provide help of an expansion of the company.
Licensing, however, is another factor that will change within the market based because it deals with business arrangements, where a company issues a license for temporary access to an intellectual right (Business Jargons, 2018). For example, if the organization is utilizing technology that was not primarily theirs, they would have to obtain a license to use it. Also, this the licensing can include factors such as high cost for purchasing that particular item or service that can affect the companies overall revenue/cost.
References
Business Jargons (2018, February 16) What is Licensing? Definition and reason. Retrieved from
Ginter, P. M., W. J., & Swayne, L. E. (2018). Strategic Management Of Health Care Organization. Hoboken, NJ: Wiley.
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