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07/04/2011 / Dr (Surg Lt Cdr) Sukesh Trikha

Aligning organisation

The product which service and information industries are selling are skills/knowledge of their employees.The assets of an organisation, i.e.,equipment and buildings (Tangible assets) have less value in creating a successful future ,without the  employees skills and proper processes ( Intangible assets). The intangible assets can turn the potential of tangible assets into outcomes.Therefore,investment in intangible assets is the key in fulfilling the long-term goal of an organisation.But , we see only the traditional financial indicators,which take into account tangible assets and report past performance.They are known as Lag indicators, which are diagnostic  and measure whether the business is in control.There are Lead indicators ,which account for intangible assets.These lead indicators help employees to stay focused on vision/strategic plan of organisation.

If the vision /strategic plan is to be made into reality ,than we have to align different verticals of an organisation .Than commitment from the top leadership with clear understanding of its role is critical.The next step is to make all employees understand the vision of organisation.All  must believe in and champion the vision/strategic plan.

A well-structured strategic initiative will serve high quality services with strong operational processes,skilled and motivated staff.

Now if all this is translated into  a healthcare organisation,it will help in creating:

  • Patient satisfaction
  • Patient retention
  • Patient profitability
  • New patient acquisition
  • Market share retention

He who provides the best service,gets the business.Therefore ,healthcare providers need to drive better business practices into whatever they do,as too often we have seen that patients are willing to give healthcare providers only one chance to prove themselves.

 

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One Comment

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  1. Dr (Surg Lt Cdr) Sukesh Trikha / May 10 2011 16:48

    ”Tangible ( material) resources are subject to laws of mechanics and they cannot have output greater than the input. On the other hand,intangible ( human) resources are capable of tremendous growth and development.They can yield an output that may be far greater than what the value of their input warrants.”

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