External Environment and Service Area Competitor Analysis Report:
Using guidance from Chapters 2 and 3 of the textbook, select a service category (the example given you in Chapter 3 is the service category of plastic surgery — don’t choose plastic surgery) and a service area (a geographic location) and conduct a complete external environment analysis (Chapter 2) and a service area competitor analysis (Chapter 3).
Your final report should be approximately 4 to 6 pages long. Approximately three-fourths of that should be text/writing. You will also likely have some pages with various maps, graphics, and charts. Remember you are to complete both an external environment analysis and a service area competitor analysis.
While your report may vary (because not everything I’m going to mention applies to every service category), in general, your report should include:
I. Detailed description of your Service Category
II. Detailed description of your Service Area (which might include):
A. General Information
B. Economic factors
D. Psychographics (Interests, Attitudes, and Opinions or IAO analysis of the area)
E. Health Status Note: this section might include an Issue Identification Chart (see p. 57, Exhibit 2-4) and/or an Environmental Trends/Issues Plot (p. 58, Exhibit 2-5).
III. Service Area Structural Analysis (which might include):
A. Power of Customers
B. Power of Suppliers
C. Threat of New Entrants
D. Threat of Substitutes
E. Intensity of Rivalry
Note: You’ll want to look through the various strategic thinking frameworks/techniques and apply the ones that seem that they would be helpful in your analysis.
IV. Service Area Competitor Analysis (which might include):
A. Competitor Strengths and Weaknesses
B. Critical Success Factors
C. Strategic Groups
D. Competitors Map
E. Likely Responses of Competitors
V. Service Category Critical Success Factors
VI. Map of Strategic Groups Identified
An extended example of a Service Area Competitor Analysis is provided throughout Chapter 3 for Plastic Surgery. You should become familiar with that as you work through your Service Area Competitor Analysis. Some examples of Service Categories that students have chosen in the past are a children’s hospital, a cardiac unit in a hospital, home health, long-term care, rehabilitation, dentistry, etc. Choosing a category with a large number of competitors can make this easier (as in easier to find info about competitors).
Very Important: I have 2 attachments in this question. One is the actual project question that shows more amplifying information than what’s posted above. The other attachment is chapter 2 and 3 of the textbook, for your reference, which is mentioned in the question.
This question was intended to be a group project with 12 -15 pages. Due to my specific situation, I was asked to work on this individually but instead of 12-15 pages, I only have to do 4-6 pages. So let’s go with 5 pages excluding title page, abstract and reference page. If you feel like this project is asking for a lot of information, that is because it was designed for a group project of 12-15 pages. But like I said, we will do a smaller version of that with 5 pages. Let me know if you have any questions. Thank you.