A Study on Strategic Management Practices and Performance of Corporate Hospitals in Visakhapatnam District

In the corporate world, the business environment is necessitating organizations adopt strategic management practices that give them a competitive edge and lead to improved performance. Strategic management is practiced by every organization irrespective of the size or sector in which they operate. Organizational change is a necessary aspect of an organization's long-term viability. It may involve transformations in the general culture, structure, and management system of the organization. A private hospital is an institution that provides patients with medical services on funds raised by the owners of entities and fees charged by those patients. The government was largely unable to provide adequate hospitals, resulting in a rapid rise in the number of private hospitals that were mushrooming across the country. It is expected that the services provided at these hospitals will be of high quality while the cost will remain fair as they compete for patients whose demands continue to grow. Not only do private hospitals face intense pressure, they also have to compete with government hospitals whose facilities seem to be improving and offering free treatment for various illnesses and conditions. Therefore, the paper largely focuses upon the various strategic management practices and performance of corporate hospitals in the select region and the methodology of the study is purely based on the primary data by conducting survey to examine the strategic management practices in association with performance of the corporate hospitals of the select region.