A5.1 The Elements of Excellence Assignment.
The landmark work on value creation and achieving competitive advantage was Competitive Advantage (Porter, 1998). Read the Summary (Links to an external site.) of this work.
Porter identified 3 primary ways for organizations to differentiate for competitive advantage- 1) cost leadership (i.e. Walmart); 2) Differentiation (i.e. Apple); 3) Focus with a mix of cost and differentiation (i.e. Dell).
Treacy and Wiersema (1993) built on that work to identify 3 primary Value Disciplines that companies use to differentiate for competitive advantage- 1) Customer intimacy, 2) Operational excellence, and 3) Product leadership. Read the landmark article, Value Disciplines
The Elements of Excellence. Optimizing organizational excellence requires a focus on the pursuing excellence in service, operations, and clinical outcomes. Treacy and Wiersema (1993) coined these sources of value as customer intimacy (more commonly known within healthcare environments as service excellence), operational excellence, and product leadership (or clinical excellence). Go to the Baldrige website and select a healthcare award winner from the last 3 years. Using the template in 150 words or less, identify and describe 3 key elements or best practices of service excellence, operational excellence, and clinical excellence evident in this high performance organization.