Introduction
Managing a strategic plan is about setting the underpinning aims of an organization, choosing the most appropriate goals and fulfilling them overtime (Masood et al., 1995). Furthermore, managing a strategic plan can be defined as the art of formulating, implementing and evaluating cross-functional decisions that helps as organization to achieve their objectives (Analoui & Karami, 2003, p. 5).
Strategic Thinking
Strategic thinking involves using ethical and moral reasoning to think about the future of an organization. This type of thinking usually starts about changes that you have noticed in the organizational climate, which are usually called mental models. Mental models are simplified understandings or representations of the phenomena that the organization encounters. These type of models can tell a strategic leader what is and is not important to the organization, what they do and do not like, what they should and should not notice. By knowing this, they include understandings of how things work and what are expected
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For these reasons, a strategic manager can use strategic planning to get the most value from their patients by obtaining the best outcomes at the lowest cost. Additionally, to help with the strategic planning in physical therapy, a SMART objective can be used because patient outcomes need to be specific, measurable, achievable, relevant and time framed (Scott & Petrosino, 2008, p. 30). Furthermore, when choosing of a strategy for healthcare departments, the leader must take into consideration a few steps, with additional emphasis on the
Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It involves the systematic identification of the firm 's objectives, nurturing policies and strategies to achieve these objectives, and acquiring and making available these resources to implement the policies and strategies to achieve the firm 's objectives. Strategic management, therefore, integrates the activities of the various functional sectors of a business, such as marketing, sales and production to achieve organisational goals. It is the highest level of managerial activity, usually
A strategic plan is a tool that delivers guidance in achieving a mission or goal with maximum proficiency and control for an organization. Strategic planning is used to transform and revitalize organizations. The plan helps provide an inclusive understanding of opportunities and challenges both internally and externally for the organization. The plan delivers an assessment of the strengths and limitations that are realistic within the company. A well-developed strategic plan will offer a comprehensive approach and empowerment for the stakeholders involved. It is an opportunity for learning and understanding priorities that will drive the business to succeed. Jones (2010), describes how in health care organizations, strategic plans
Strategic leadership in healthcare is the act of transforming a health care organization so that its daily functioning matches the organization’s vision, core values, the cultures it serves, as well as organization’s culture, organizational climate and structure. In implementing strategic leadership, managers and healthcare executives can gain a greater sense of clarity in the changes that need to be made so that the organization can reach its full potential. Healthcare leaders can also make stronger connections internally and externally, with incorporating strategic leadership, to help the organization grow and expand the organization’s reputation, while contribute to the organization’s well-being.
"Strategic management is a set of managerial decisions and actions that determine the long-run performance of a corporation" (Wheelen & Hunger, 2006, p.3). The benefits of strategic management helps the firm focus on the objectives and develop the steps involved in obtaining the vision and financial wealth of the organization. An effective strategic management plan should include the following three questions: (1) Where is the organization now? (2) If no changes are
Without strategic planning, several things can go wrong including missing out on great opportunities. Strategic planning is an organization’s outline to help achieve its purpose. Although strategic planning begins at the top of the pyramid, it is more effective when it is carry out as a whole among other in the organization. Having a good internal control system in place protects an organization from high risk, fraud, and more. Jackson Memorial Hospital has several weaknesses which are similar to its competitors and other health care organizations. For instance, Mount Sinai Medical Center one of Jackson Memorial’s competitors, encountered lack of strategic planning that led to many issues such as with readmissions, surgical complications,
Strategic management is the process where leaders establish an organization’s long-term direction, set the specific performance objectives, develop strategies to achieve these objectives in the light of all external and internal changes, and undertake effective strategies to manage these changes and execute action plans.
Strategic planning is the management activity of an organization to achieve the organization’s goals through setting priorities, focusing activities and resources, working of employees and stakeholders, agreement establishment, and evaluation of the organization’s direction (Balanced Scorecard Institute, 2015).
Strategic planning can dictate the success of any organization if properly planned as well as the failure of an organization if not implemented as planned. Strategic planning is all about making choices. It is a process designed to support leaders in being intentional about their goals and methods. Simply stated, strategic planning is a management tool, and like any management tool, it is used for one purpose only—to help an organization do a better job. This portion of the strategic plan will explain why an
Strategic Planning is the process of developing and maintaining a strategic fit between the organizations goals and capabilities as well as emerging market conditions and opportunities. This process begins with a clear company mission statement. However, this is only a small piece of a dynamic and perpetual process. Other activities involved with strategic planning also include setting supporting organizational objectives, designing a sound product mix as well as coordinating functional strategies. Strategic planning works to set the groundwork for the rest of the subsidiary planning functions in the company.
integrated view towards the firm, and then synthesizing the learning into an image of the
Strategic planning involves making decisions about the organization’s long-term goals and strategies and how the organization decides to implement their goals (Bateman, Snell, Konopaske, pg. 113). Strategies help organizations to have a clear perspective on how to go about accomplishing the goals they have in place. All organizations have a clear vision of what their mission and purpose as a company is, they know how to fulfill the mission, vision, and purpose and they know how to ensure that they accomplish all their goals. However, the route the organization takes to define these things determines how effective they will be.
The strategic management is actually defined as the process in which an organization actually formats and also implements the plans which espouse the objectives and goals of that organization (Diana Wicks, 2011). The process of the strategic management is continuous and it changes with the evolution of the organizational goals and objectives.
Having a clear vision is extremely important in order to accomplish goals in life and a well-defined strategy is essential in order to fulfill that vision, thereby, both visioning and strategic thinking go hand in hand. As Souba (2004) states that, “[v]ision without a strategy is a daydream; strategy without vision is a nightmare’” (p. 447). It is evident how this competency is essential in each and every sector, in my opinion; this competency will help in the betterment of healthcare sector as well. This paper will address the importance of having a clear strategy and vision pertaining to the healthcare sector and illustrating a case in the light of it.
According to literature, strategic planning is vital for strategic management. Burgelman (1994) points that strategic planning is a process which decides how, when and who is going to plan and how the results will be implemented. Drucker (1974) identified that the planning for an organization’s future that includes setting major overall objectives, the determination of basic approaches to be used in
Strategic planning clearly defines organisations’ objectives and assesses both the internal and external situation to formulate strategy, implement the strategy, evaluate the progress, and make adjustments as necessary to stay on track (Bradford et al, 2008). According to Robbins and Coulter (2005), the strategic management process model is given below: