Montefiore Medical Center (Mmc) Case Study

Pages: 12 (3296 words)  ·  Style: Harvard  ·  Bibliography Sources: 2  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business - Management

SAMPLE EXCERPT . . .
" (Harvard Business School, 2001) The Balanced Scorecard, Brennan learned would assist in defending the institution against "sub-optimization" meaning that one care center taking actions that negatively impacted another care center would be prevented. This approach to measurements was one with balance and that served to bring about an increase in effectiveness through use of "real-time decision making" that enabled the center to make quick market adjustments. Foreman and Conaty approved use of this tool. The development of the nation level scorecard was a process with three steps:

(1) education and consensus building;

(2) design; and (3) implementation. (Harvard Business School, 2001)

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It took six months for Brennan to combat the initial resistance to use of the scorecard system. Features of the scorecard included measures of patient satisfaction and the cost, quality and cycle times of both clinical and administrative processes. The new strategy was implemented through communication to the organizational employees and meetings that informed employees on how to acquire data to be measured. The SAP system was instituted at Montefoire and a new clinical information system was installed specifically that of PHAMIS. These systems were configured to enable streamlining of data acquisition and measure reporting. The changes at Montefoire included those in the financial procedures and reporting. Each of Montefoire's institutions developed their own individual state and city level scorecards as well as developing their own value maps and measures all aligned with the overall strategy. The Balanced Scorecard is reported as such that did not result in the introduction of new measures but instead brought all the measures together and aligned them.

IV. Causal Ambiguity Explained and Problematic Relationships

Case Study on Montefiore Medical Center (Mmc): A Assignment

Causal ambiguity is defined "as the uncertainty that stems from a basic ambiguity concerning the nature of the causal connections between actions and results." (Ambrosini and Billsberry, 2008) Stated otherwise, "the factors responsible for firm performance may be difficult to identify because of causal ambiguity." (Ambrosini and Billsberry, 2008) Causal ambiguity it stated to be "central to the resource-based view of the firm argument because it can act as an isolating mechanism protecting critical resources from imitation. However, it can also present a firm from learning from its own experience and from improving its performance over time." (Ambrosini and Billsberry, 2008) The implication is that the "net effect on the sustainability of competitive advantage in the presence of causal ambiguity is unclear and hence that causal ambiguity represents a mixed blessing for strategic management scholars." (Ambrosini and Billsberry, 2008) This also presents a mixed blessing for "Managers who need to both protect their valuable resources form competitive imitation and nurture them to exploit them or replicate them within their firm." (Ambrosini and Billsberry, 2008)

The problematic relationships that can be identified in the Heart Center Value Map begins with the number of cases being central to the framework of this value map. Quality care in service to patients should form the focus of the value map. While it appears that the number of cases supports the advance of support for fellowships and teaching opportunities, this is not the case unless those cases are overwhelmingly represented by satisfied patients who have received quality care. Quality care is the foremost factor in ensuring that Montefoire has the largest count of cases possible. This is because the number of cases if a large portion of these cases are represented by patients who are not satisfied with the services received will result in a negative impact on the future number of cases. Therefore, the focus should be on quality care provision to patients and the number of cases will result due to satisfaction of patients.

V. Compare and Contrast Activity-System View with Resource-Based View

The activity-system view when compared with the resource-based view as it is applied to Montefoire is a much better view of organizational competence and efficiency. Porter (1999) held that competitive advantage is created as choices are made about what will and will not be done. Porter (1985) states that competitive advantage is defined as "the ability to earn investments consistently above the average for the industry." (cited in: Halawi, et al., 2005) It is reported that the resource-based view of the firm "dominates the strategic management literature" and was developed in order to provide an explanation of how firms "achieve sustainable competitive advantages.

The enterprise is held in view of resource-based theory as "potential creators of value-added capabilities, and the underlying organizational competences involves viewing the assets and resources of the firm from a knowledge-based perspective. It focuses on the idea of costly-to-copy attributes of the firm as sources of business returns and the means to achieve superior performance and competitive advantage." (Halawi, et al., 2005) The resources of the firm are held to be comprised of "all assets both tangible and intangible, human and nonhuman that are possessed or controlled by the firm and that permit it to devise and apply value-enhancing strategies." (Halawi, et al., 2005)

Various names are utilized to discuss the firm's unique resources and capabilities including such as "distinctive competences, invisible assets, core capabilities, internal capabilities, embedded knowledge, corporate culture, unique combination of business experience." (Halawi, et al., 2005) In other words, "resources and capabilities that are valuable, uncommon, poorly imitable and nonsubstitutable comprise the firm's unique or core competencies and therefore present a lasting competitive advantage." (Halawi, et al., 2005) The resource-based view holds that intangible resources are more valuable than tangible resources to result in competitive advantage.

Activity-based management requires investment by the firm in measurement processes, software, tracking hardware and training . Activity-Based Management data enables the organization to "fine tune…costs to work the supply side." (Halawi, et al., 2005) There is also a great advantage in "planning big, long-range process improvements." (Clint Burdette Strategic Consulting, 2013) As noted earlier in this study there was a conflict as to whether Montefoire's strategic goals were in order of providing patient services first in order of importance or if research and education should be first in order of importance in the goals and objectives of Montefoire.

Porter and Kramer (2012) report that many companies are "trapped in an outdated approach to value creation that has emerged over the past few decades." Value is viewed as being narrowly created and short-term financial performance is optimized "in a bubble while missing the most important customer needs and ignoring the broader influences that determine their longer-term success." (Porter and Kramer, 2012)

According to Porter and Kramer (2012)

"Companies must take the lead in bringing business and society back together. The recognition is there among sophisticated business and thought leaders, and promising elements of a new model are emerging. Yet we still lack an overall framework for guiding these efforts, and most companies remain stuck in a "social responsibility" mind-set in which societal issues are at the periphery, not the core." (Porter and Kramer, 2012)

The solution is reported to lie in the principle of shared value and this is reported to involve creating economic value in a manner that results in the creation of value for society through addressing society's needs and challenges. (Porter and Kramer, 2012, paraphrased) Porter and Kramer (2012) report that businesses are required to reconnect with the success of the company and social progress. Shared value is reported to not be "social responsibility" but to be "a new way to achieve economic success." (Porter and Kramer, 2012)

Montefoire, therefore, should set as its objective that of 'shared value' within view of the Balanced Scorecard in an activity-based management initiative because as cited by Porter and Kramer (2012) the principle of share value when leaders and managers realize the "transformative power of shared value" they will "develop new skills and knowledge - such as a far deeper appreciation of societal needs, a greater understanding of the true bases of company productivity, and the ability to collaborate across profit/nonprofit boundaries." It is reported by Porter and Kramer that capitalism:

"…is an unparalleled vehicle for meeting human needs, improving efficiency, creating jobs, and building wealth. But a narrow conception of capitalism has prevented business from harnessing its full potential to meet society's broader challenges. The opportunities have been there all along but have been overlooked. Businesses acting as businesses, not as charitable donors, are the most powerful force for addressing the pressing issues we face. The moment for a new conception of capitalism is now; society's needs are large and growing, while customers, employees, and a new generation of young people are asking business to step up." (Porter and Kramer, 2012)

Porter and Kramer state that the concept of shared value:

"recognizes that societal needs, not just conventional economic needs, define markets. It also recognizes that social harms or weaknesses frequently create internal costs for firms -- such as wasted energy or raw materials, costly accidents, and the need for remedial training to compensate for inadequacies in education. And addressing societal harms and constraints does not necessarily… [END OF PREVIEW] . . . READ MORE

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