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Strategic Mgmt Project on PMCare Report

Strategic Mgmt Project on PMCare Report

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Strategic Business Development
Strategic Business Development

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Published by: Zee on Dec 18, 2010
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Graduate School Of BusinessFaculty of Business & AccountancyUniversity of MalayaCSGB6201 Strategic Management
PMCare Sdn Bhd : What’s The FutureLike ?
Prepared by:Khairul Anuar Mohd JuriMuhammad Zia AslamUngku Mohammad Alhady Ungku MohdZamDebra MesaSalem AbdullahPrepared for:Dr. Syed Zamberi Ahmad
 
TABLE OF CONTENTSOverview of the Study
In today’s highly competitive business environment, firms must engage in strategic planning that clearly define objectives and assesses both the internal and external situationto formulate strategy, implement the strategy, evaluate the progress, and make adjustmentsas necessary to sustain company’s growth and competitive advantage.We adopted a simplified strategic planning process for the company under this study,PMCare Sdn Bhd. Our strategic planning process for PMCare will consist of followingsteps:
1.
Mission and Objectives (Introduction):
Mission statement serves as theguideline for the whole strategic planning process because it describescompany’s business vision, values, and forward looking visionary goals.
2.
Environmental Scan:
Environment scanning is a very useful technique, donethrough different tools, to gather and analyze relevant information that willultimately help the organization in its planning process. We will use SWOTfor the internal analysis of PMCare and Porter’s five forces model for the task environment i.e. analysis of the related industry. Moreover, PEST analysiswill also be used for the external macro environment to address one of theissues in our study.
3.
Strategy Formulation:
Based on the information from the environmental
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scan, we will formulate a strategy for PMCare that best match its strengths tothe opportunities while keeping in mind weaknesses and external threats.
4.
Strategy Implementation:
There is no use of any strategy if it is notimplemented efficiently. We will give recommendations to avoid formulation-implementation gap for the company.
5.
Evaluation and Control:
Implementation of the strategy must be monitoredcarefully so that necessary adjustments could be made on time.
1. INTRODUCTION
PMCare is a Business Process Outsourcing (BPO) provider, a pioneer in the concept of Managed Care Organizations (MCOs) in Malaysia. It was incorporated on February 28,1998 under the name of HMO Pacific Sdn Bhd and was named PMCare Sdn Bhd onJanuary 16, 2004. PMCare is involved in the management and administration of varioushealthcare programs for its corporate clients.
Business Process Outsourcing (BPO)
fundamentally means to outsource the activitiesthat are not part of the organizations’ core competencies or business structure. BPO is positively related to the search for more efficient organizational design, cost reduction, productivity growth and innovative capabilities and, most importantly, is a source of strategic advantage. Health care (MCO), back office functions, HR functions, marketingactivities and IT functions are some of many examples of business process outsourcing.
Managed Care Organizations (MCOs)
are the ones who have necessary expertise andsolutions to provide cost effective and quality healthcare delivery systems. Providingquality medical care is an integral part of company policy for a healthy and productiveworkforce. Moreover, medical care incentives play a vital role in meeting recruitingtargets and retaining employees, thus, consequently maintaining the competitive advantageof best human capital. So, keeping in mind the importance of healthcare services, it isimpractical for large organizations to manage their own medical benefits for the
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