External Environment Assessment

External Environment Analysis for: Mount Sinai Medical Center

Table of Contents

General External Environmental Assessment 3

Political/Legal 3

Economics and Finance 5

Societal Trends 6

Science and Technology 7

Task Environment 8

Service Area/ Market Segment 8

Market Environment 9

Organization/Agencies that regulate Mount Sinai 10

Porter’s Analysis 12

Threat of new entrants 12

Intensity of rivalry among existing organizations 12

Threat of substitute products and services 13

Power of customers 13

Power of suppliers 14

Integration of project and findings 14

Bibliography 16

Bibliography 16

This report examines the external dimensions and forces that create the framework of the Mount Sinai Medical Center located in Miami Beach, FL. The general environmental assessment includes the political/legal factors, economical and financial factors, societal trends, and science and technology. Following that, the task environment will be examined. The task environment includes competitors, demographics, service area and more. Along with the external environmental assessment and task environment, competitive forces will be discussed using Porter’s Analysis. The five forces of Porter’s Analysis include threat of new entrants, intensity of rivalry among existing organizations, threat of substitute products and services, power of customers, and power of suppliers. Understanding and assessing these factors will help evaluate the current competitive position of the hospital and help to develop a competitive strategy to achieve the hospitals objectives and mission.

General External Environmental Assessment

Political/Legal

The political/legal environment consists of either laws or government agencies that regulate, control, or limit certain actions of the facility. As of July 1st, 2010, the Affordable Care Act became law. This act is a major external economic factor in which it caused changes in funding and reimbursement, clinical...