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STRATEGIC MANAGEMENT
Executive Summary
In the current report, the significance of strategic management has been discussed in a systematic report format adaptation. The report starts with a proper introduction, which provides details about the report topic, the issues dealt with, the chosen industry and the country context used.
The present report has focused on the strategic management of the Aged care sector of Australia, where the choice of a suitable aged care home has become quite difficult for the family members. It is to be noted that since there are very less number of care homes in Australia that provide care facilities to the elderly population as well as the people, who want to get their family members enrolled under aged care, also do not possess required knowledge for determining the same; therefore, this sector needs an upgradation in order to be more competitive in future. The overall performance or the course of action for these care homes needs to be analysed in the healthcare environment.
In the following section, in order to acquaint with the chosen industry, a short yet detailed industry background is provided. Considering the market approach used in a strategically formatted structure, the issues and the drawbacks are mentioned and in order to deepen the understanding, Porter’s five forces are used in a critical detailed manner in a separate section. Hence, in order to identify the competitive position of this industry and the suitable strategic moves of the care home for the elderly people, Porter’s Five Forces Analysis has been done. The Porter’s Five Forces Analysis has shown that the competitive rivalry, bargaining power of suppliers and bargaining power of the customers are very low, while the threats from the substitute are moderate. Only the threats of new entrants are quite high, which makes the sector viable to competition in future.
Based on the Porter’s five forces and the issues challenge identified, a set of recommendations and a conclusion is provided, making the report complete. These recommendations are conducting a market survey of the clients, increasing more capacity of the care homes and forming a connected network for better accessibility.
Table of Contents
Introduction    4
Current Issue in Aged Care Industry in Australia    4
Using Porter’s Five Forces for Assessing Strategic Move Used in Australian Aged Care Industry    4
Recommended Actions for Current Challenges in Resolving Issues Australian Aged Care    6
Conclusion    7
References    8
Introduction
The aged care is a part of the healthcare industry, which is in its expansion stage the healthcare industry, has not given ample emphasis on the increasing significance of the aged care needs in society. In a country, such as Australia, where majority of the population is slowly heading towards elderly age group, the pressure on aged care is increasing and the lack of consideration of the increasing needs are creating issues for the exiting aged care industry players as they are designed to provide service to a limited number of people at a single time, raising concerning capacity issues. In the current report, the issue of growing pressure on aged care organisations in terms of their capacity management aspect has been discussed, while the use of the quality care over quantity management strategy has been evaluated through the use if Porter’s Five Forces framework, and provided subsequent suggestions.
Current Issue in Aged Care Industry in Australia
In Australia, a huge number of people have reached elder age state, accounting 15% of the total population in 2017, which indicate that 3.8 million people require aged care services (Australian Institute of Health and Wellness, 2018). However, due to the limited number of aged care organisations in the country and their preference for quality service provided to limited number of elderly person, nearly 125,000 elderly people are yet to get any form of aged care in Australia, which is raising serious health concerns (Age Well Complaint, 2019). In Australia the number of aged care homes has yet to reach 3000 mark (2672), which only offers an average of 75 beds per...