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Apply strategic planning approaches to create effective and relevant healthcare strategies, goals, and objectives.
Student Success Criteria
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As Healthy Dynamics (HD) moves forward in the development of their strategic plan, it is important to understand where the company is strong, where it is weak, the major opportunities the company can explore, and possible threats. HD currently offers customized wellness programs to their clients, which include all or some of the following services: health assessments, biometric screenings, and telephonic health coaching. Telephonic coaching calls have dropped by 25% over the last year, and requests for onsite biometric screenings have increased by 15%, while health assessments are still being administered by paper. The company has over 500 employees, all working onsite at a five-floor commercial-leased building that includes an onsite fitness center, cafeteria, and breakrooms on each floor.
The staff consist of the following team members (10) in leadership, (30) information technology, (5) marketing, (250) health coaches, (20) account managers, (5) strategic planning managers, (5) administrative, (2) human resource directors, (3) benefit managers, (200) biometric screeners, and (10) contract managers. The cafeteria staff are not employees of the company and cost HD $500,000 per year. The company revenue has continued to decline by 15-25% over the last five years. If this trend continues for another two years, the company will be bankrupt. Customer satisfaction rates are declining, yet they are still considered one of the top competitors in the wellness industry.
You have been tasked with assessing the strategic position of the business and its environment. Some options currently under consideration are company restructuring, merger, acquisition, and adding or removing services. To provide a clear snapshot to help the company understand where it stands, you will explore key issues by creating a SWOT Analysis.
Create a SWOT Analysis that includes:
The Strengths of Healthy Dynamics within the wellness industry
The Weaknesses of Healthy Dynamics within the wellness industry
The Opportunities available to Healthy Dynamics within the wellness industry (or research potential opportunities by branching into a new industry)
The Threats to Healthy Dynamics within the wellness industry (or research potential threats from companies whose primary business is in another, related industry, or from disruptive technologies that potentially threaten all companies in an industry)
Your assignment should include a title page, a reference page, two internet sources and a minimum of one scholarly source, which must be retrieved from the Rasmussen Library.