Direction and Nature of Growth and Expansion Strategies in the U.S. Retail and Healthcare Industries
Although technology investments have maximized operational efficiencies andstreamlined costs among the top corporations in the United States andbeyond, the business models of leading organizations must still changedramatically to reflect new performance measures (Harvard Business Review,1998). The value of successful businesses in the future will be based ontheir ability to build relationships with customers, meet heightenedexpectations for service and effectively use economic managementToday's organizations are changing their business models and organizationaldesign to focus on innovative growth strategies, such as building long-lasting, loyal customer relationships. This paper describes the nature anddirection of growth and business strategies in two U.S. industries-theWith overall growth of the retail industry reflecting population growthrates, meeting the financial markets expectations of growth is a keychallenge facing every retail business manager in the United States(Walters and Hanrahan, 2000). However the rewards from growth are huge, asstudies have shown that the market values incremental profit doll
Management's experience in and understanding of health care marketing iscrucial to develop strategies that are most effective for increasing afirm's database and customer relationships. Theultimate goals of this type of integration are to improve the coordinationof care, enhance patient management, streamline operations and save moneythrough enhanced efficiency. These arrangements integrate the partners' operations throughtight operating linkages, mutual interest in one another's future and along-term strategic orientation. This "intelligence-execution" capability is the reason that the top retailers of today are in the top positions, and the top retailers of yesterday are gone: every retail leader knows this reality. The difficulties of integrating disparate information systems and corporate cultures are frequently underestimated, and business managers must develop and implement business integration strategies that maximize the value of the new corporate enterprise. Business alliances, informal business relationships between twoorganizations, are another key element of growth in the U. While an agile infrastructure, enabled by integration, can havesubstantial impact on the overall success of the business, technology alonehas no value. The technologies to enableGM to do this were available to all of its competitors, but were notapplied to the same business initiative. Two companies can use the same technology and have verydifferent results. The most successful implementations are those that meet thebusiness requirements and contribute to the general success of thebusiness. The following strategies have recently proved to be effective in recentyears (Walter and Hanrahan, 2000): * Customer Relationship Management - Rising consumer expectations, multiple communication channels and cross-enterprise collaboration are presenting new challenges to customer management. Companies in this industry have found themselvesin a challenging environment, due to increasing competition and decliningreimbursement. * Business Intelligence - In an information driven economy, retail firms must acquire, analyze and act on information faster than its competitors.
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