Week 1 PP

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School

Keiser University *

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Course

HSM692SG3

Subject

Health Science

Date

Apr 3, 2024

Type

pptx

Pages

10

Uploaded by DeaconTiger1813

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STRATEGIC MANAGEMENT Week 1 PowerPoint Assignment
Introductio n Strategic management has become crucial in today's dynamic environment because of the increasing complexity and uncertainty in business operations. The global economy is becoming more interconnected, and businesses are facing fierce competition from both domestic and international players. In such a scenario, businesses need to make strategic decisions that are agile and responsive to the changing environment.
Why strategic management has become crucial in today's dynamic environment.? Strategic management is a broad concept that requires continuous planning, monitoring, analysis and evaluation of all important concepts that an organization needs to achieve its goals. Healthcare environment has changed dramatically over the past few years. This change must continue radically in the coming years. Strategic management can be used to assess what the future will bring. In this way, the organization can learn about resources, finances, services and patients to include in its activities. It may also know the procedure to engage in its operations.
Evolution of Strategic Management CAN BE TRACKED BACK TO THE EARLY DAYS OF BUSINESS WHEN ORGANIZATIONS USED A SIMPLE STRATEGY OF DOING WHAT THEY DID BEST AND FOCUSING ON THEIR CORE COMPETENCIES. BUSINESS ENVIRONMENT BECAME MORE COMPLEX ORGANIZATIONS STARTED ADOPTING A MORE HOLISTIC APPROACH TO MANAGEMENT THAT INVOLVED PLANNING, ORGANIZING, AND CONTROLLING ALL THE BUSINESS OPERATIONS THIS APPROACH GAVE RISE TO THE CONCEPT OF STRATEGIC MANAGEMENT, WHICH FOCUSED ON DEVELOPING LONG-TERM STRATEGIES THAT WOULD HELP ORGANIZATIONS ACHIEVE THEIR GOALS.
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