HEALTH CARE MANAGEMENT FINAL EXAM

Final Exam Material
Chapter 7 Questions
1.
What is the “business
portfolio” of a corporation? Distinguish the terms “corporation” and “strategic
business unit”.
2.
Explain the three generic
strategic directions that the corporate center can follow in managing its
business portfolio.
3.
Under what circumstances is
corporate management likely to employ a stabilization or a retrenchment
portfolio strategy?
4.
Describe the differences in
growth strategies based on concentration, related diversification, and
unrelated diversification.
5.
How might a corporation assess
the degree of relatedness of a proposed diversification move in its business
portfolio? Why does related diversification often work better than unrelated
diversification?
6.
Describe several examples of synergy that may be possible among
the SBU’s in a related diversified business portfolio.
a.

7.
Compare vertical integration
and horizontal expansion within an industry value chain.
8.
Describe the components in a vertically integrated healthcare
delivery system and how they interact with each other.
a.

9.
Explain the different forms
that a retrenchment can take – ranging from the most modest to the most severe.

10. Explain how portfolio
analysis matrices work and their function in making portfolio management
decisions. Use either the BCG Growth-Share matrix or the GE Business Screen as
examples.
a.

11.
What is meant by the “parenting
style” of the managers of a multi-SBU corporation?
Chapter 8 Questions
1.
Explain the differences in
strategies formulated at the corporate and at the SBU levels.
2.
Describe the possible roles
that corporate management might play in the strategic planning and management
process within individual SBUs in its portfolio. Discuss also the tensions
between corporate and SBU management over these issues.
3.
Explain the five generic types
of growth strategy available to individual SBUs.
4.
Explain the concept of
“competitive advantage” and the purpose it serves in planning and managing
strategy. What is the importance of adding the term “sustainable” to
competitive advantage?
5.
What are the four generic
business strategies defined by Michael Porter? Explain also a fifth strategy
that is a combination of those four and that was rejected by Porter.
6.
Describe five methods by which
a business can build a “low-cost leadership” strategic position.
7.
What are some problems that can
develop with a low-cost leadership strategy, leading to poor performance?
8.
What are the four essential
criteria of a differentiation strategy that results in a sustainable
competitive advantage?
9.
What are some problems that can
develop with a differentiation strategy, leading to poor performance?
10.
Explain the concept of a
“hybrid” strategy. Why did Porter think that such a strategy could not work,
and how have some businesses found ways to make the strategy successful?
11.
Discuss the concept of a
“focus” strategy and its connection to the definition of individual market
segments.
12.
What are some of the generic
ways in which a business can respond to the strategic initiatives of its
competitors?
Chapter 9 Questions
1.
Which is more important – the
formulation of a strategy or its implementation? Hint: either answer is correct
as long as it is well explained.
2.
In what ways could an
organization’s culture affect, positively or negatively, the success of its
strategic plans?
3.
Describe the three basic forms
of organizational structure and the strategic conditions to which they are best
suited.

i.

4.
Describe the three ways that
personnel in functional areas can provide valuable inputs to the strategic
planning and management process.
5.
Give three examples of
functional area strategies that could be used to support an organization-wide
strategy.
6.
Explain the several steps in
the process by which a strategic plan is broken down into tasks and activities
that can be performed by individual employees.
7.
Describe a multi-step process
for allocating financial resources among several strategic projects, in
addition to other non-strategic capital investment proposals.
8.
A well-conceived strategic plan
can fail through mistakes made in its implementation. What are at least five
ways in which strategy implementation can go wrong?

Chapter 10 Questions
1.
Exactly what is an organization
paying attention to through its strategic monitoring program?
2.
What are some of the elements
and trends in the health care industry that make strategic monitoring
especially important?
3.
List 10 significant
developments or changes in an organization’s competitive or market environment
that might be discovered by a good strategic monitoring program.
4.
Compare and contrast the
monitoring of trends and events in the past, the present, and the future.
Explain how monitoring can occur in each of those three time frames and their
significance to the strategy implementation process.
5.
Describe the steps that a
managed care organization might follow in setting up a strategic monitoring
program. Explain how those steps and the resulting program might differ in a
small physician group practice.
6.
What are the differences in
strategic monitoring programs at the level of multi-SBU corporations and
individual SBUs?
7.
What policies or procedures
might a health care organization use to decide when changes in its external
environment require some type of change or adjustment in its strategies?
8.
Discuss some of the changes
that an organization might make to an ongoing strategy in response to
developments it has observed in its external environment.

Chapter 11 Questions
1.
Describe the four primary purposes
of a professional strategic financial management function in an organization.
2.
Describe the principal
responsibilities of the corporate finance department of a modern professionally-run
organization.
3.
List and briefly explain the
most important sources of capital financing for both for-profit and
not-for-profit corporations.
4.
What are the advantages and
disadvantages of relying on debt for capital financing?
5.
What are the advantages and
disadvantages of relying on equity for capital financing?
6.
Explain the concept of “capital
structure” and its relevance to the strategic financial management.
7.
Define the term
“creditworthiness” and explain its importance to the purposes of strategic
financial management.
8.
What are some of the factors
that credit rating firms take into account in assigning ratings to individual
businesses?
9.
Discuss the interplay between
maintenance of a business’s creditworthiness and investment of its capital
funds in often risky strategies.
10.
Review some of the mistakes
that are often made in managing the financial component of strategic planning
and management.

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