1489576__hospital_structure_

1489576__hospital_structure_ - Healthcare Running head:...

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Healthcare 1 Running head: CHANGES IN HEALTHCARE IN THE NEW ECONOMY: STRUCTURE Changes in Healthcare in the New Economy: Structure, Operation, Strategy, and Sources of Ideas [Author’s Name] [Institution’s Name]
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Healthcare 2 Changes in Healthcare in the New Economy: Structure, Operation, Strategy, and Sources of Ideas Introduction A strategy in the Art of War, which is the best-known work on ancient Chinese military strategy, said that “know yourself and the enemy, and win with ease” (Sun Tzu, at around 400 BC). But in the era of new economy where the competition is very fast and come in different patterns as in the past, knowing yourself and the enemy are not enough. An organization has to know more than in Chinese poem. In this era of knowledge-based economies, a yesterday enemy may become a today alliance. Today, you may have no enemy but tomorrow your business will be gone because of a new hi-tech enemy who makes your technology or the way you do business obsolete. A strategy that fits the fast-changing competition has been explored. The third era of strategy has been defined as a portfolio of relationships. Economies of scale and scope are well known in the past. At the present time, strategy is known as a portfolio of relationship which will focus on the economies of expertise. A question for the new strategy will be how to become a network centrality that consists of ideas and generate businesses out of those ideas before others. The successful of Cisco, Microsoft, and Intel are strengthening the concept of network centrality, using the concept of corporate venturing (Venkatraman and Subramaniam, 2002). In this era, to win the competition, knowing yourself, enemy and also having good networking are needed. Every industry has impacts of this changing to emerging economies, including agricultural, manufacturing, and service business industry. Examples of the impacts in the new economy can be seen in several megatrends such as globalization, digitalization, deregulation/privatization, changing demographics, changing industry mix, convergence wave, commoditization of processes, and the increasing importance of emerging economies (Lee and
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Healthcare 3 Lee 2002). Lee et al. point out that industry in U.S. has changed from agricultural, to manufacturing and now to the service business. Since service business has become more important in this period where 76% of the activity that creates wealth in U.S. (Lee, Ribeiro and Olson, 2007), a study of a new strategy should be explored. The prime aim should be to harmonize and integrate all aspects of care so that the importance of the mind and soul was recognized as being as fundamental as care for the body. Technology was a valuable tool, and orthodox medicine had greatly reduced, among other things, prenatal deaths, but there was a danger that the care for the mind and soul could be thrown away when the focus was on managed care. He concluded with the words of Confucius, “It is better to light a candle than to curse the
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This note was uploaded on 11/29/2010 for the course MANAGEMENT EM-14793 taught by Professor Lindaryaan during the Spring '08 term at Windsor.

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1489576__hospital_structure_ - Healthcare Running head:...

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