Swot Analysis Of Mayo Clinic

Mayo Clinic started slowly from Dr. Mayo who practiced medicine to a current clinic that treats and offers consultation services and other medical services. From the onset, the creativity to bring new ideas was their principles. Medical practice in the clinic has been the act of pulling resources together to solve their patient problems. The founders of the clinic, both Mayo and his wife Louise, believed in charity and social awareness. Their viewpoint of life meant that no man, woman or child is born to suffer. They were great advocates of the concept that life is not just a question of what others owe us but what we owe others and how much we can do to stop suffering in the world through scientific research. This formed the foundation of Mayo Clinic when it started and it forms the strengths of the success today. When this medical establishment started to take shape, this sense of support and responsibility to society became the medical foundation of commitment to the hope of research in medicine. (Howard, 2004).

Inter assessment of a firm involves items such as a mission statement, vision, and core values that drive a firm internally to achieve its goal. It also involves internal audit to allow an organization to set its long-term objectives, generate, evaluate and select strategies, implement these policies and finally, measure its performance to ensure that it meets its original goals. Mayo Clinic has drafted its mission statement, vision, stated its core functions clearly and carries out internal performance audit regularly. This practice has allowed the clinic staff to understand their roles and impact it will create on the performance of the institution. In management, workers who understand their roles perform better, th...

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...ting that Mayo Clinic has put in place to manage its future spending to allow it to remain competitive in the market. It means defining clearly the steps that are taken by Mayo clinic to manage its resources appropriately for the future prosperity of the clinic. Mayo clinic has identified the necessary resources, set objectives, analyzed data, and made financial decisions that have made it realize its full potential in the health sector

Mayo Clinic has reported a solid financial and operations performance in all years since its inception. Its financial base has given the healthcare facilities capacity to grow and come out financially strong. The Mayo Clinic network has grown tremendously in the last one hundred and fifty years from the United States to other countries. Physician collaboration also has enhanced health care in various countries. (Mayo Clinic, 2010).