session 2 hdfkasdfj

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School

Colorado Christian University *

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Course

230A

Subject

Marketing

Date

Apr 3, 2024

Type

pdf

Pages

9

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Listen Topic: Strategic Planning and Strategic Healthcare Marketing Class, welcome to Session 2. In Session 1, we defined healthcare administration and examined the roles, functions, and competencies of healthcare managers. We also touched on leadership, outlined some of the differences between a leader and a manager, and highlighted the importance of motivation as a driving force for employee performance. In this session, we will learn about ways managers identify factors, both current and future, that impact production processes. We shall examine the dynamics that could influence the effort to improve production systems. Every organization strives to be successful by identifying those critical factors leading to that success. Often, that success lies in how well an organization can plan and tap into market opportunities. As a result, managers have adopted the use of strategic planning tools to enhance the likelihood of success in their businesses. Buchbinder and Shanks (2017) define strategic planning as a process of identifying a defined future state for an organization and a means to achieve it. We will learn how through an ongoing analysis of an organization’s operating environment, matched against its own internal capabilities, an organization’s leadership is able to identify strategies that will drive the organization from its present condition to that desired future state. We will also learn how an organization can use strategic marketing in the progression of becoming a market-oriented organization. Today’s practicing healthcare managers are being challenged to operate in increasingly complex, interdependent, and dynamic markets. We will learn the kinds of activities that the firm uses to satisfy consumer needs; the approaches managers pursue to create, communicate, and deliver value in selected markets; and the means in capturing value in return. Topic Outcomes: By the end of this session, students should be able to: Describe strategic planning, a strategic planning process, and the importance of strategic planning as a dynamic process. Identify healthcare market powers and trends, including their impact on health services.
Identify issues and concerns with a current healthcare system and how to improve it by using strategic planning tools such as SWOT Analysis. Explain the major functions of the marketing management process, including various technical terms used in marketing. Describe how healthcare managers can integrate ethics and social responsibility into marketing strategy. The healthcare industry is a very dynamic industry subject to radical changes over time. Managers strive to provide quality care with the hope of harnessing patient satisfaction and loyalty. In an attempt to provide quality care, managers should identify current issues and concerns within the health care system by effectively planning and mapping out operational paths. Experts have come up with several strategic planning tools of vital importance to organizations. When managers effectively deploy these tools, they are in position to identify the strengths and weaknesses of their institutions’ operations and their relative position in the market. Armed with such information, managers are then in a better position to devise strategies to overcome those issues and concerns plaguing their businesses. In addition to identifying strengths and weaknesses, managers may also identify the threats facing their businesses and the opportunities available to them. Some strategic planning tools include: SWOT/TWOS Analysis Fishbone/ Root-Cause Analysis 5 Whys Boston Matrix Porter’s 5 Forces SOAR – Strengths, Opportunities, Aspirations, and Results PEST – Political, Economic, Social, and Technological VMOST – Vision, Mission, Objectives, and Tactical Decision Tree Analysis PDCA Cycle - Plan, Do, Check, and Act For this lesson, we will discuss SWOT analysis extensively. When healthcare managers use strategic planning tools, they do so for the following reasons: To change the direction and performance of their healthcare businesses. To identify deficiencies and strengths of their organizations.
To create standards for decision-making in the organization. To set a proper context for decisions and performance evaluations. To train managers to develop better decision-making skills. To remain competitive. To reduce costs. To forecast (Buchbinder & Shanks, 2017; Daniel, 2011). Strategic Planning Process A successful strategic planning process should: Describe the organization's mission, vision, and values. Target and explore potential markets for emerging threats and opportunities. Understand the current and future priorities of targeted customer segments. Analyze the company's strengths and weaknesses relative to competitors. Determine on which elements of the value chain the company should concentrate. Identify and evaluate alternative strategies. Develop an advantageous business model that will give the organization a competitive edge over its competitors. Define stakeholder expectations. Prepare programs, policies, and plans to implement the strategy. Establish control systems, as well as hiring and training systems. Allocate resources and plan for contingencies. Monitor performance (Buchbinder & Shanks, 2017). The following diagram presents the strategic planning process:
(Source: Mybusinessprocess.net, 2013, http://www.mybusinessprocess.net/strategic-planning-process-an-introduction/) To effectively change things around in any organization, managers frequently use the SWOT analysis. There is also a tool known as the TOWS matrix, often used alongside the SWOT. The TOWS matrix emphasizes the external environment, while the SWOT emphasizes the internal environment. Below is a template of the TOWS matrix outlining: Internal Strengths Internal Weakness External Opportunities External Threats And the strategies deployed include: Maxi-Maxi Strategy (Strengths and Opportunities) Maxi-Mini Strategy (Strengths and Threats) Mini-Maxi Strategy (Weakness and Opportunities) Mini-Mini Strategy (Weakness and Threats)
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