Community Health and the Local Hospital Assignment

Community Health and the Local Hospital - Assignment Example There is a separate department that handles the community health aspects which is undoubtedly something significant for the sake of the community. The budget is around US$25000 each year as it is served towards addressing the needs of the underserved. The desired audience is comprised of individuals who cannot manage to look after their health domains and need assistance medically. The in charge of the area is the municipal health director who has done his Masters in Clinical Psychology and has over 8 years’ experience overall. (2) The Department of Community Health within a hospital setting is often viewed as a "loss leader" to introduce the community to the hospital services or as a department which is necessary to substantiate the fact that a not-for-profit hospital is indeed fulfilling their responsibilities as a tax exempt organization. What are your thoughts? What part of the total hospital budget should be given to this area? One should believe that quite a significant proportion of the total hospital budget must be dedicated towards community health realms. The Department of Community Health can be seen as a loss leader within the hospital regimes but then again onus should be on achieving results more than making it tax exempted. A not-for-profit entity might not win favors if it fails to address the health needs of the people. (3) It is imperative that the Dept. of Community Health be linked to the strategic initiatives of the hospital. One of the challenges is to help other department directors and managers see the value of wellness initiatives and health promotion events and how these initiatives link to their services. What are your thoughts on how to break down these barriers? Indeed it is important that the Department of Community Health is somehow connected to the long term initiatives of the hospital. In essence, the other department directors and managers might not be able to estimate the value of health events and wellness

SWOT Analysis of Bank of America Research Paper

SWOT Analysis of Bank of America - Research Paper Example In its mission statement, BoA has identified its responsibilities towards all its stakeholders which include the shareholders, the customers and the clients, its employees, the institutional investors, government, the community and the society in which it operates. BoA’s vision is to become the World’s finest financial service company. At the heart of BoA’s mission statement lays its core values and strategies which highlights how it intends to achieve its mission. BoA believes in doing the right thing for its stakeholders, work in teams while developing trust, focusing on achieving results and respecting each others differences and becoming leaders to build a better future. (Editors) 2. Identify the five (5) forces of competition and how it impacts the company. The first force of Porter’s five forces is threat of new entrants. Banking and financial services industry in general faces severe competition. Being a multinational bank operated worldwide, BoA fa ces tough competition. The potential of absolutely ‘new’ entrants in the banking sector is low as operating a bank is a highly regulated business which requires vast amount of investment. However already established banks worldwide can very easily enter regions and compete with each other which makes competition quite tough for BoA in many regions. (Schmidt. 2010; Henry. 2008) The second force to determine competition in the industry is competition form established rivals. In BoA’s case this seems to be high too as due to globalization in the financial institution the competition has become tougher within already established companies. All the US based and international institutions are trying to win the market share and strengthen their customer base. (Schmidt. 2010; Henry. 2008) The third Porter’s force is competition from substitutes. This seems to be reasonably low for the financial institutions as they offer services like wealth management, investment banking, insurance, loans, advisory etc that have no substitutes. (Schmidt. 2010; Henry. 2008) The power of customer and the power of supplier are the fourth and fifth forces of Porter’s model. The power of supplier seems to be weak in BoA’s case as there are no significant suppliers in the financial services sector. The power of customers is high as in most of the businesses due to increased globalization and competition the customers can now exercise greater influence on the pricing and need of new offers which can accelerate competition. However in an industry like financial services providers where the intervention of government and other regulators is high the companies are restricted to a certain level. (Schmidt. 2010; Henry. 2008) 3. Create a SWOT analysis for the company identifying the major strengths, weakness, opportunities, and threats. BoA’s presence world wide gives it a wider geographical coverage to avail opportunities. Its geographical spread e nables it to serve various markets, business segments and needs of customers all around the world. BoA deals in various products which is an additional strength that serves millions of customers all around the world through its strong network. Product diversification- offering services like retail banking, investment banking, cards, capital and wealth management along with continuous product development and keeping pace with latest technology and promoting learning and innovation have been major strengths of the company. Additionally it operates a very strong risk management