Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Strategic planning in healthcare paper
Emerging technology trends in healthcare
Strategic planning in healthcare paper
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Strategic planning in healthcare paper
Strategic planning is crucial for the success of all business endeavors. Analyzing currents trends in technology, consumer markets, competition, and the workforce can play a pivotal part in whether or not the organization can survive. Overtime, strategic planning strategies must be modified in order to compensate for changes in the industry. Goals and strategic planning often necessitate change to ensure that the organization is performing at peak level, while offering the most beneficial and quality services to consumers. Case Study The Community South Medical Center, a large urban profit-based health center, is equipped to deal with many comprehensive health care issues. Although the medical center has an excellent reputation, analysis has shown that they are now lacking in shortage of clinical staff, non-interfacing technologies, outdated infrastructures, abatement of JCAHO conformity, and fluctuation in demographics. In addition, many of the local high paying businesses have left the area. This could be due to competitive issues or since the demographics changed, they no longer had the consumer advantage for the services that they offered. If Community South Medical Center does not want to follow suit of the other local businesses, they must revise the strategic plan that they put in place three years ago in order to implement strategic performance. According to Edmunds (2006), “The objective of a strategic plan is to figure out ways for you to capture more and more of your market. And, above all, you must act on the strategies you come up with” (http://www.usatoday.com/money/smallbusiness/ columnist/edmunds/2006-06-28-strategic-plan-yourself_x.htm). It is the duty of the CEO to confront the issues afflicting t... ... middle of paper ... ...peak level while offering quality services, strategic planning must be implemented to understand where necessary changes are needed. References Buchbinder, S.B., Shanks. N. (2007). Introduction to healthcare management. Sudbury, Mass: Jones and Bartlett Publishers Inc. Edmunds, G. (2009). Do it yourself strategic planning. Retrieved on October 10, 2011, from http://www.usatoday.com/money/smallbusiness/columnist/edmunds/2006-06-28-strategic-plan-yourself_x.htm Finarelli, M. (2009). Intended consequences: How changes during strategic planning can make or break a plan. Retrieved on October 10, 2011, from http://www.hss-inc.com/documents/SHSMD-MariaNovSpectrum.pdf Waldman, D. (2009). Healthcare is infrastructure. Retrieved on October 10, 2011, from http://www.huffingtonpost.com/deane-waldman/health-care-is-infrastruc_b_160182.html
At some point it becomes necessary for an organization to undergo changes. If embracing change is truly one of the organizations core beliefs than efforts should be taken to make the necessary transition. A strategic planning structure allows the organization to stay focused on plans, yet be flexible and adaptive and, therefore, able to deal with change effectively (Galbraith, et al., 2001, pg. 38).”
HCA, after following a conservative financial policy since its establishment, has entered the new decade preparing to make some changes in order to realign their financial strategy and capital structure. Since establishment, HCA has often been used as a measure for the entire proprietary hospital industry. Is it now time for the market to realign their expectations for the industry as a whole? HCA has target goals which need to be met in order to accomplish milestones in the future. The problem arises as to which area holds priority to the company. HCA must decide how the key components of their financial strategy and policy should my approached in order to meet their future goals.
The assignment for this week is a review of the case study for Memorial Hospital. The hospital is a private owned facility. Memorial has placed their concentration on quality care at low cost. According to the information provided, Memorial does not offer specialized care due to the cost attributed to specialization. The facility has the capability to treat up to 600 patients. (Vonderenbse and White, 2013) The facilities management is concerned that if they do not deliver on the quality service that they are marketing to the community, they will lose business.
Goodstein, L., Nolan, T. and Pfeiffer, J. W., 1993. Applied Strategic Planning: How to Develop a Plan that Really Works. New York: McGraw-Hill.
Wheelen, T.L., & Hunger J.D. (2008) Strategic management and business policy. Upper Saddle River, NJ: Pearson-Prentice Hall.
For several decades health care has been tied to the economy and with the current downturn we see continued efforts to control and reduce over-head costs. Health care organizations in their effort to become more efficient and address changes in the industry have altered their strategic business plans. Lee & Alexander (1999) researched organizational change in hospitals and their survival, in this paper I hope to discuss their findings and add other examples to validate their conclusions.
There are many factors that can contribute to the success or failure of an organization and often it is difficult to pinpoint just one cause. The viability of the health care industry does not solely rely on consumers; it relies on environmental factors, the economy, politics, efficient management, and motivation. There are many contributing factors to turmoil within the health care industry and these factors need to be addressed with caution, accuracy, and in a timely manner so consumers can experience better quality care and the sense of importance.
“Plans are worthless, but planning is everything” (Eisenhower, 1957). Businesses that fail to plan are very likely to fail and at best will not recognize the full spectrum of profit avenues available to them. Strategic planning helps firms to define how they will make money in the future. Financial planning goes further into depth using the strategic plan as a baseline and helps firms determine their short-term and long-term budgets as well as the possible effectiveness of their plans. The innovative nature of business requires firms to plan out new initiatives to determine costs they will incur, possible profits from sales, and what kind of risk they will encounter.
Strategic planning is defined by intestorwords.com as the process of determining a company’s long-term goals and then identifying the best approach for achieving those goals. But this definition is too broad and does not identify the true advantages of strategic planning for large to small businesses. Strategic planning provides the foundation for the policies, procedures, and strategies for obtaining and using resources to obtain the goals of the organization. Some believe that in today’s rapidly changing environment, strategic planning is becoming more difficult and therefore more obsolete because changes are occurring so fast that plans-even those set for just months into the future-may soon be obsolete. The fact is that with the fast changing environment it is even more important to have strategic planning in every business today.
Pearce II, J. A., & Robinson, R. B., Jr. (2009). Strategic management: Formulation, implementation, & control (11th Ed.). New York, NY: McGraw-Hill/Irwin Companies.
Without a proper implementation and monitoring, new strategic plans may not be successful in capturing the change potential opportunities. This failure can also due to lack of communication from the change agents or key decision makers to the employees. The strategic changes made by the organization will not be successful if it the whole management and employees from all levels unable to understand it. It also important for the organization to change immediately or else the organization will be less
Successful organizations require their leaders to set and achieve goals on a consistent basis. In order for these organizations to meet their goals, their leaders must actively and carefully plan on how to meet these goals. There are many types of plans that successful organizations can and do use regularly to meet their goals. I feel that the strategic and tactical plans play the largest role in achieving goals because they lay out clear and structured plans in where organizations want to go in the immediate and long term future. Other types of planning are often used to carry out more specific, compartmentalized goals that support the entire picture, yet are less impactful to the organization if not carried out.
Jenster (1987) stipulates that effective progress in strategic development and the execution thereof is strongly depend...
Wheelen, T. L., & Hunger, J.D., (2008). Strategic management and business policy. Upper Saddle River, NJ: Pearson Prentice Hall.
Ever since the 1960’s, strategic planning has been seen as “the one best way” to establish and carry out strategies that would help the business in achieving success in comparison to their competitors (Mintzberg 1994). Success from any sort of business whether it be small or large, stems from the foundation of planning. Whether it be planning the operations within the business, what kind of employees will help in developing the organisation or even planning in regards to setting goals and achieving them. However, those businesses that decide to ignore the fundamental need of planning, can experience an increase in a failed working environment in regards to successfully accomplishing what the business sets out to do. Although, that being said there are positives as well which can be seen from businesses who do not necessarily have a strategic plan. Eventually, some implications for business planning will be presented.