Faculty of Business and Law: Swinburne Business School
Strategic Cost Management
Globalisation of industries and financial capital has forever changed the competitive landscape. Disruptive technologies and changing market demographics and preferences provide both opportunities and significant challenges to companies. Strategic management is designed to identify these opportunities and challenges and provide a basis for competitive strategies to successfully compete in global markets. Various well established techniques are used by strategic managers to provide insights into the complexity of industries through objective and rigorous analysis of data with the aim of identifying trends which may lead to those opportunities and challenges.
You are required to undertake a comprehensive and rigorous PESTEL analysis of the General Hospital Industry (need to include both public and private hospitals) in Australia.
1. Description of the Industry
Conduct extensive research into the Industry and identify the major competitors; the structure of the Industry e.g. Reach; Industry products and/or services (need to describe range of services for example surgery consultation and medical) ; recent Industry benchmarks (1benchmark performance of hospital to public health department Victoria. There is information available about target and benchmark 2 elective surgery benchmark) : relative market shares of key competitors. Who are the major suppliers ( like pharmaceutical, technology, surgical equipment’s, doctor, nurses staff, catering services) to the Industry and who are the major customers (patients) ? (Also need to write what ratio of people going to relevant hospitals. Who and how much funding is provided)
2. Research: Identification of Trends: (is population growing. Demand with age)
Undertake comprehensive research into each of the PESTEL factors that may have impact (positive or negative) on the Industry. This will require significant research using data from a number of sources to provide evidence of political issues in both Australia federally and each State; changing government policies on issues such as health policy or incentives; Industry regulations etc. Government publications will provide data on changing demographics in demand. Industry publications will also need to be researched for data on demand growth; market share; issues and trends. Finally media publications will provide analysis and commentary on key issues. Potential sources for the data collection will be discussed in class. ( issue of trends how funding is changed, is it went up or down and what is economic feature)
3. Knowledge integration:
You are required to analyse the data collected through your research and present your findings as either a positive or negative impact on the Industry. With reference to your research, recommend strategies to optimise the efficient and effective outcomes of this Industry.
• Present your research in a report format with approximate word length of 2,000 – 3,000 words excluding appendices.
• Due Date: Sunday 15th April.
• This assignment is to be done individually and submitted via Turnitin.
Source of data:
-Health department websites
-Australia bureau of statistics (only relevant to assignment)
- Australia institute of health and welfare
SOME LINKS ARE PROVIDED