Swot
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SWOT Analysis
Running Head: SWOT Analysis: Spectrum
SWOT Analysis: Spectrum Health
University of Phoenix
Management 350
Wayne Bjerregaard, DBA, Facilitator
March 11, 2010
Spectrum Health’s vision in 2004 was “to be the nation’s highest quality and most successful health care enterprise by 2010.” To accomplish this, Spectrum put in place a six year, big, bold, and demanding plan. The aim was high and the resolve unwavering. The foresight of the decision-makers has paid off as Spectrum has seen returns on their endeavors in grand fashion. However, Spectrum has not dropped anchor and decided to bask in the rays of success; rather they have begun to ask ‘…what more or what else is there to do?” This means then, the development of more goals and implementation of new programs to improve the lives of those in the community served.
One of Spectrum’s strengths lies in the financial soundness of the company. Since the 2004 endeavor of “Vision 2010,” Spectrum has realized an increase in net revenue of close to $3 billion dollars. Spectrum’s Priority Health program has moved far beyond southwest Michigan and is covering families statewide. Spectrum has been a generous contribution to the community to the tune of $500 million dollars as well as foundation fundraising of more that $144 million dollars.
During this same six year period Spectrum has created over 2,500 new jobs, continues to cultivate new partnerships, and identify needs that lead to the erection of new buildings, recruitment of highly qualified physicians and blaze the trail for innovation in research and education. This is done while remaining sensitive to the needs of the patients and families served and the commitment to making prudent fiscal and financial decisions.
An additional strength alluded to above is Spectrum’s expansive collaborative efforts to ensure continuum of care and resources. In a statement by Richard C. Breon, President & CEO,...
Running Head: SWOT Analysis: Spectrum
SWOT Analysis: Spectrum Health
University of Phoenix
Management 350
Wayne Bjerregaard, DBA, Facilitator
March 11, 2010
Spectrum Health’s vision in 2004 was “to be the nation’s highest quality and most successful health care enterprise by 2010.” To accomplish this, Spectrum put in place a six year, big, bold, and demanding plan. The aim was high and the resolve unwavering. The foresight of the decision-makers has paid off as Spectrum has seen returns on their endeavors in grand fashion. However, Spectrum has not dropped anchor and decided to bask in the rays of success; rather they have begun to ask ‘…what more or what else is there to do?” This means then, the development of more goals and implementation of new programs to improve the lives of those in the community served.
One of Spectrum’s strengths lies in the financial soundness of the company. Since the 2004 endeavor of “Vision 2010,” Spectrum has realized an increase in net revenue of close to $3 billion dollars. Spectrum’s Priority Health program has moved far beyond southwest Michigan and is covering families statewide. Spectrum has been a generous contribution to the community to the tune of $500 million dollars as well as foundation fundraising of more that $144 million dollars.
During this same six year period Spectrum has created over 2,500 new jobs, continues to cultivate new partnerships, and identify needs that lead to the erection of new buildings, recruitment of highly qualified physicians and blaze the trail for innovation in research and education. This is done while remaining sensitive to the needs of the patients and families served and the commitment to making prudent fiscal and financial decisions.
An additional strength alluded to above is Spectrum’s expansive collaborative efforts to ensure continuum of care and resources. In a statement by Richard C. Breon, President & CEO,...