Big Hospitals (BH), a renowned multi-specialty hospital in Bangalore, is a private limited company owned by four doctors who specialize in various areas of medicine. With the majority of shares held by these doctors, BH has earned a stellar reputation for its quality of service and hygiene. The hospital currently offers 18 different medical services. and is committed to its mission statement. The hospital’s mission statement is to provide exceptional multi-specialty medical care with a commitment to quality, hygiene, and compassionate service.
In a competitive landscape with many super specialty
hospitals in the city, BH has achieved a notable 12% revenue growth and a 6%
increase in profit margin over the past two years. Looking ahead, BH aims to
expand and increase its national market share by 10% within the next two years.
However, despite its profitability, BH faces a challenge: it lacks sufficient
internal capital to finance the desired growth.
Question 1: Define the term mission statement [2]
Question 2: Outline two differences between a mission
statement and a vision statement [2]
Question 3: Explain two benefits of setting objectives in
managing an organization like Big Hospitals [4]
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