Competitive Advantage Of Apollo Hospital

DIAMOND MODEL

Michael Porter profounder of Diamond Model stipulates that some countries, and industries or companies within the country have better competitive advantage than others on the international scene. This argument is based on some factor endowments which are inherent in a country, which gives it the competitive advantage over its counterpart. Such factors include natural resources (e.g. minerals, energy etc.), skilled labor, land, population size and so on (Bruce and Pitts, 1998). These interconnected factors for sustained competitive advantage are as follows:

 Firm Strategy, Structure and Rivalry
 Demand conditions
 Related and Supporting Industries and
 Factor Conditions

FIRM STRATEGY, STRUCTURE AND RIVALRY:
Firms should

A cost effective relating and supporting would give the hospital a competitive advantage.
FACTOR CONDITIONS:
The company should setup the hospital in such a location where it is easy for the patients to reach easily. It should recruit specialized doctors and nurses and skilled staff and employees. They should always have a upgraded technology in terms of machinery and equipment while going international to gain competitive advantage.

MISSION & VISION ANALYSIS
MISSION:
The mission of Apollo hospital is to bring health care of international standards within the reach of every individual. They are committed to the achievement and maintenance of excellence in education, research and health care for the benefit of humanity.

VISION:
Apollo hospital is an independent entity which carries out research, research training and educational programme in the quest of quality health care.

CORE IDEOLOGY:
They believe that whatever they are, they are because of the value they carry. They define themselves as a family and not as individual, by working together and overcoming hurdles efficiently.

CORE PURPOSE:
Its core value is to add value to whatever they do by all their means and

The IFE matrix can be created with the 5 steps:

KEY INTERNAL FACTORS:
Conduct internal audit and identify each strength and weakness in all the business areas. Firstly list the strengths and then the weaknesses. You can as an example use percentages, ratios, and comparative numbers.

WEIGHTS:
After identifying the strengths and weaknesses, the core of the IFE matrix is to assign a weight that ranges from 0 to 1 to every factor. The weight assigned to a given factor indicates the relative importance of the factor. 0 means not important. 1 indicates very important.

RATING:
Your rating scale can be per your preference. Practitioners usually use rating on the scale from one to four. Rating captures whether the factor represents a major weakness (rating = 1), a minor weakness (rating = 2), a minor strength (rating = 3), or a major strength (rating = 4). If you use the rating scale 1 to 4, then strengths should receive a 4 or 3 rating and weaknesses must receive a one or two rating.

MULTIPLY:
Multiply every factor 's weight by its rating. This will provide you with a weighted score for every factor.

SUM:
The last thing in constructing the IFE matrix is to sum the weighted scores for every factor. This provides the total weighted score for your