por Rozaimi Razali 1 dia atrás
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cost
efforts
time
product
project
service
initiative
idea
Forecasting Uncertainty
operational analysis usually involves making forecast about future operation e.g. market demand and cost inflation
Interdependencies
Some operations are often interdependent with one another such as market demand and financing
Complexity of Operations
In certain healthcare businesses some have complex processes which requires expertise and resources.
Data quality
Inaccurate or incomplete data can lead to flawed conclusions and decisions
Data availability
Gathering accurate and up-to-date data require access to proprietary or confidential information from existing businesses that are not readily available
Quality Assurance
ensure that the business can consistently deliver products or services that meet or exceed quality standards, enhancing customer satisfaction and reputation
can ensure that the business has the necessary resources in place to function effectively
Efficiency and Cost Optimization
can lead to reduced operational expenses and increased profitability
Risk Identification and Mitigation
allows for the development of mitigation strategies and contingency plans
can identify potential operational risks and challenges early in the planning process
Improved Decision-Making
provides valuable insights into how a business will operate on a day-to-day basis
Employees survey
provide insights into the availability of skilled labor and workforce requirements
Customer feedbacks
offer insights into customer expectations and preferences
important for designing and optimizing operations
financial statements
can help in understand industry financial norms and trends
market research
provide insights to critical aspects of operation planning
industry benchmarks
market trends
customer demand
business documentation
business charter
business plans
proposals
Resource requirement assessment
estimating the resources needed for project operations
material
equipment
personnel
Flowcharts
visually represent the step-by-step processes involved in the project's operations to identify
areas for optimization
identify inefficiencies
identify bottlenecks
SWOT analysis
Identify operational areas where the business can capitalize on strengths, address weaknesses, exploit opportunities, and mitigate threats
Threat
Mitigating Threats to Improve Day-to-Day Operations
WellCare Medical Center is primary care clinic offering a range of healthcare services
the clinic takes a proactive approach to mitigate these threats
the clinic hire a compliance specialist that closely monitor changes in healthcare regulations
reduces the risk of non-compliance penalties and audits from regulatory bodies
the clinic invest in robust cybersecurity infrastructure including firewalls and encryption
this increases the confidence that the patient data is secured
threats
Healthcare Regulatory Changes
frequent changes in healthcare regulations
this create challenges in maintaining records and procedures according to the regulations
Cybersecurity Risks
increase in cyber threats e.g. data breach
this pose a serious risk to patient personal and clinical information
Opportunity
Exploiting Opportunities for Improved Day-to-Day Operations
HealthAdvise Consultants is a healthcare consultancy firm specializing in healthcare technology implementation
the company wants to leverage the 2 trends that is happening in the healthcare industry
Telehealth Integration
the company implement telehealth integration in their day-to-day operation
the company is now able to
align its services with real-time market needs of its customer
Advanced Analytics Solutions
the company hire skilled data analytic workers to utilize the analytical tool
the company is able to
enhance operational efficiency
improve patient outcomes
optimize resource allocation
opportunities
Telehealth Services
there is an increasing demand for telehealth services post COVID-19
Healthcare Analytics
there are many analytical tools developed for healthcare related purposes post COVID19
Weaknesses
Addressing Weaknesses for Improved Day-to-Day Operations
Sunshine Medical Clinic is a small healthcare clinic specializing in general family medicine and primary care
the clinic recognized they have the two weaknesses and so they come out with a way to improve their day-to-day operations
realizing the weakness, the clinic build a user-friendly website which includes onlin-booking, list of experts and their expertise, contact information and ability for patient to see their health records online
current customers feel empowered and does not seek alternative clinic
potential customers can search about the clinic and their expertise
realizing they do not have an Electronic Health Record (EHR), the clinic invest in one
patient history can be accessed quickly and no errors in the information
weaknesses
Limited Online Presence and Patient Engagement
the clinic has very minimal online presence
hard to attract new customer and difficult to engage with current ones
Outdated Patient Record System
the clinic relies on paper-based patient records, which are time-consuming and error-prone
difficult to access patient history quickly
Strength
Leveraging Strengths for Improved Day-to-Day Operations
XYZ Electronics is an electronics manufacturing company specializing in consumer electronics e.g. smartphones
scenario
company is experiencing increased demand
to keep up with the demands, the company resort to its strength
workforce empowerment
utilizes its highly-skilled workforce to do innovation
usually it takes 3 hours to create 1 phone but with a new innovative method from highly skilled workforce, it can take only 30 mins to create 1 phone
cutting-edge tech
utilizes its proprietary software for quality control
e.g.
instead of 1 QA officer per 100 phones, with the proprietary software, the rate can be increased to 1 Q per 1000 phones
strengths
workforce
company has a skilled and experienced workforce
as a result
due to their experiences, they can come out with new innovation
usage of technology
the company has invested heavily in R&D in the past 5 years
as a result, now they have
proprietary software for quality control
state-of-the-art manufacturing technology
assessing the practical aspects of a business
Data Quality
Market Dynamics
Assumption of Efficiency
Cost Estimation
Resource Optimization
Industry Events and Conferences
Supplier Agreements
Company Records
personnel records
inventory records
Internal Documentation
Technical specs
project plans
Cost Analysis
Supplier Evaluation
Technical Skill Sets
Technology Compatibility
Resource Assessment
evaluating the technical aspects required to execute a project
External Factors
Differences in accounting methods
Reliability of financial data
Lack of Transparency
Better Resource Allocation
Cost Control
Identify Financial Risks
Informed Decision-Making
Assessment of Financial Performance:
Financial databases
Stock exchanges
Credit ratings agencies
annual/quarterly reports
Financial statements
cash flow statement
balance sheet
income statement
credit analysis
the process of evaluating the creditworthiness of individuals, businesses, or other entities that are seeking to borrow money or obtain credit
How do one check for creditworthiness of a business?
Credit scores history
Experian
provide credit scores and reports to lenders and consumers
a global credit reporting agency that operates in many European countries
The Qatar Credit Bureau
Lenders and financial institutions in Qatar typically use the data provided by the Qatar Credit Bureau to assess credit risk
collects and maintains credit information on individuals and businesses in Qatar
the primary credit reporting agency in Qatar
FICO score
mainly in the USA
FICO scores typically range from 300 to 850, with higher scores indicating better creditworthiness
provided by the Fair Isaac Corporation
one of the most widely used credit scoring models
Obtain the company's credit history and payment history from credit reporting agencies
Late payments or a history of defaults can be red flags.
Financial statement
Cash Flow
Cash flow trends
Positive operating cash flow
if a business has a positive and steady cash flow trend, the creditworthiness increases because it assures lenders that the business can pay their day-to-day operations
Balance sheet
Assets
Fixed assets (e.g., real estate) can be used as collateral
this will increase creditworthiness of a business because if the business used the fixed assets as guarantee for a loan
Income statement
can provide information regarding Revenue Growth
Steady or increasing revenue over time is generally a positive sign of a healthy business.
If there is positive growth every year, the chances of the business not being able to pay back the loan/credit is low
creditwothiness
how confident the lender (the one who gives out credit) thinks the borrower (the one who received credits) will be able to pay back
breakeven point (BEP)
is used to determine how much sales volume your business needs to do before start making a profit.
the point where cost = revenue
Limitation
based on a number of assumption
all goods produce get sold
variable cost are constant through out production
fixed cost is constant
is only for supply side analysis
it does not tell you about what or how you should conduct your sales.
Equation
to calculate BEP
BEP=F/(P-V)
example
How many number of products need to be sold before I start making a profit? i would like to produce 100K of product X given
selling price
12 QR per unit
variable cost are
0.80 QR per unit
delivery
4 QR per unit
ink
2.20 QR per unit
paper
fixed cost is 30k
P = The amount of money charged to the customer for each unit
a.k.a Selling price
2 types of cost
Fixed cost (F)
roughly the same regardless of production/sales
insurance
wages
rent
Variable cost (V)
costs that change with changes in production/sales
material cost
useful when you're developing a pricing strategy
Dynamic Pricing
a flexible strategy where prices are adjusted in real-time based on market demand
Risk of price discrimination allegations if not managed carefully.
Requires sophisticated technology and data analys
Frequent price changes may frustrate customers
Stay ahead of competitors by offering timely price adjustments
Quickly adapts to supply and demand fluctuations
Maximizes profits by capturing consumer surplus
Bundle Pricing
a strategy involving selling a set of products or services together at a single discounted price
May devalue individual products if always sold at a discount.
Managing bundles adds complexity to inventory control.
Discounts may lower profit margins
Helps move less popular items by bundling them with bestsellers
Customers feel they are getting a deal
Encourages customers to buy more items
Tiered Pricing
a strategy where multiple pricing levels for a product is offered based on customer needs and budget
Disadvantages
Requires careful planning to balance value across tiers
Too many options might overwhelm customers
More complicated to manage and market multiple tiers
Effectively targets different market segments
Encourages upselling as customers may opt for higher tiers
Provides options to meet diverse customer needs
Cost-Plus Pricing
a strategy where a fixed percentage is added to the production cost of a product
Disadvantage
May result in prices that are too high for the market, reducing sales.
Less incentive to minimize costs since they can be passed on to consumers.
Doesn't consider customer willingness to pay or competitor pricing
Advantage
Provides a consistent profit margin on all products
Guarantees that all costs are covered, reducing the risk of losses
Easy to calculate/implement
evaluation of the financial performance and health of a business
seeks to ascertain the financial viability of the proposed project/idea
will it provide a good return on invesment?
can the business pay the debt?
Market Uncertainty
Global Variations
Limited Predictive Power
Data Reliability
bias
accuracy
Data Availability
Assess Growth Potential
Identifying Market Opportunities
Understanding Customer Needs
Resource Allocation
Help in Risk Mitigation
document research
Market research reports
Business statistics
Business directories
online research
online database
newspapers
search engines
internal sources
customers' complaints
customers' comments
accounting records
sales figures
Desk research
our healthcare example
Analytica
Subtopic
MGI
protocol
analystics
census data
newspaper
government reports
online databases
literature reviews
market/industry reports
Secondary research
collecting and analyzing existing data and information that has been previously published
Field research
examples
training
Online survey
Purchase survey
Postal survey
Telephone interview
Face-to-face interview
Primary research
collecting and analyzing new data to generate information
a systematic analysis of factors that affect a specific market
key example questions
What differentiate my product from others?
analytica
dna extraction + pre-pcr < ~ 1hour
FASTER sample prep
What are my competitor offering?
Bioneer
dna extraction ~40 mins
wo pre-PCR
only dna extraction
carry MGI
dna extraction ~1 hour
reagent prep takes time ~30 mins
What does the customers want?
dna extraction
rt-pcr
sample prep
sequencing reagents/equipments
Who is the target customer?
Labs
macrohealth
sidra
hmc
Who are the competitors?
MedTech
Qatar Scientific
What is the market?
healthcare
providing laboratory equipment
