To any person considering the launch of an enterprise, the Shouldice Hospital story is a refreshing reminder of how startups in any field – in this case, health care – can succeed with the right ingredients and passion to excel. This week’s readings include references to a successful startup that grew from the willingness of one individual (Dr. Edward Earle Shouldice) to respond to a recognized need. Your challenge in this assignment is to develop a paper in which you apply the principles of capacity management and illustrate the impact of forecasting on the implementation of those principles, based on the following scenario:
You and two of your closest colleagues are considering the launch of a start-up and you believe that the Shouldice success story is relevant to your new venture. Generate responses to several categories of probing questions as a basis for discussion. Since your findings will be presented in a practical format to enlighten the thinking of your two potential future partners, you may forego the formality of a case analysis in favor of a document that provides clear, accurate, and actionable responses to the questions listed below. In addition to this week’s readings, you may also use popular sources related to the Shouldice case to amplify the points you wish to emphasize in your discussion with your colleagues. If, during your writing, you discover additional areas of importance that are not triggered by these questions, feel free to include them in your paper.
- Identify three business components (within the broad categories of people, process/facility, or technology) that presented problems for Shouldice Hospital in the late 1940’s. Define steps that your startup team might take to avoid similar problems when your service or product is launched.
- Determine the value of an accurate forecast in terms of its influence on quality of service delivery and/or potential growth for your start-up. In what ways would an accurate forecast of hernia repair demand influence business decisions at Shouldice?
- Examine the demographics of Shouldice patients, such as their overall health, type of surgery required, age, etc. What target-market demographics will enhance the success of your start-up?
- How do you know when to stop growing your start-up? How might Shouldice have determined a practical limit to economies of scale? At what point should Shouldice have decided to stop growing? What metrics should be monitored to determine that growth has plateaued?
Support your assignment with at least three scholarly resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
Length: 5-7 pages, not including assignment coversheet, title page, and reference page(s). Use topic section headings for each of the questions listed above.
Your response should demonstrate thoughtful consideration of the ideas and concepts presented in the course by providing new thoughts and insights relating directly to this topic. Your response should also reflect professional business writing and current APA standards.