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Importance of strategic planning process
Importance of strategic decision making
Importance of strategic planning process
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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 characteristically concentrate on operational and organizational goals such as when to obtain new technology, how to meet competitive challenges, and what staffing, tools, or facilities are needed to ensure organizational survival. The mission and value statements are significant in determining the quality of a strategic initiative. Forcing the organization to look toward the future creates proactive objectives in which both short-term and long-terms plans and goals are necessary in order to succeed. At Mayo Clinic, the organization is driven by the needs of the patient and providing an unparalleled experience through integrated clinical practice, research and education for all patients. Analyzing the strategic plan for Mayo Clinic and identifying and summarizing long-term and short-term plans helps to develop an outlook for the future. “US News & World Report ranked Mayo Clinic as one of the 21 “Best Hospitals” in the United States in 2009” (Jones, 2010, p. 52.), and has been on this list for last 20 y... ... middle of paper ... ... that is faced by Mayo Clinic during the current time which is a strategic alternative that should be incorporated into the strategic plan before increasing the global activities abroad. Value-adding services should add value from the patient’s perspective of the clinic. Due to the quality of care and mission of fulfilling the needs of the patient, Mayo Clinic is capable of maintaining the business with minimal additions in terms of value-adding services. There will always be a place in the market that will provide a better service in the eyes of a certain patients, but for Mayo Clinic serving their community is what they do best. Mayo Clinic is an internationally recognized company and has served their patients for 150 years now. Strategically planning is a tool that helps maintain the idea and the drive that is required to continue to serve for the next 150 years.
According to Amedisys (2015), the organizations strategic goals include maximizing clinician efficiency by simplifying processes and procedures, improving patient care coordination through collaborative care technology,
Background Information In implementing a strategic plan for Coastal Medical Center, our consulting team has conducted many analyses and formed numerous strategies in order for Coastal Medical Center to be successful. Such assessments include an internal analysis, external analysis, gap analysis, and SWOT analysis. In conducting these analyses, our consulting team was able to better understand the internal environment, external environment, where the organization currently stands in terms of performance, and the major strengths, weaknesses, opportunities and threats that oppose the Coastal Medical Center. From our inquiry, we will be able to establish a strategic plan that best fits the organization’s needs.
In addition to this business plan, we must also address the financial issues plaguing this organization. To illustrate some of these issues lets look at some of the trends here at OCB and within our Industry: For example, OCB’s clinic operations profitability in 1990 was 60%, and now in 1996 our profitability is only 37%, which is down 23 percentage points! We can blame some of this on rising costs of overhead, consumables, etc, however this is happening as the industry as a whole is growing 5% annually, and as our customer base, largely senior citizens, population is growing at almost 1% as year. We should be capitalizing on these industry trends, however, as you all know, not all the trends work in our favor. For example, our lifeblood, the Insurance company’s managed care organizations, and government healthcare reimbursement programs shows a downward trend of allowable payments for our services (DRGs) For example in 1995 the DRG price of ...
WellStar Health Systems is currently the preeminent and largest health care provider in Metro Atlanta. WellStar Health Systems is a not-for-profit institution that is composed of 5 hospitals and an abundance of physician groups. Physician specialty groups included within WellStar are: ENT, Psychiatry, Endocrinology, Pulmonary Medicine, Infectious Disease, General Surgery, Rehabilitation, Pathology, and Rheumatology. WellStar’s organizational design is composed of internal and external factors that define the organization’s size, organizational structure, and processes. Internal and external factors are the basis for influencing managerial conclusions in decision-making. These factors vary from organization to organization and are the rationale for understanding WellStar’s strengths, weaknesses, opportunities, and threats. Understanding these variables is a necessity for the sake of WellStar’s survival
It is obvious that there is a large gap between where Coastal Medical Center is and where they need and want to be. When comparing CMC’s competitors, Johnson Medical Center and Lutheran Medical Center, CMC needs to provide more efficient, high quality care and focus on more profitable priorities instead of funding multiple unsuccessful projects such as the fifty-three unfinished developments.
A strategic planning process is developed from a SWOT analysis (Harrison, 2010). When a nurse begins to plan strategically, this entails organization, adjustment and management to strengthen operations within the healthcare organization (Nelson-Brantley & Ford, 2017). Due to an ever-changing environment within a health
Current health care systems exist in complex atmospheres that regularly change to meet the demands of health care personnel and consumers. Health care systems deal with many different cultures, values, and interests making it increasingly more difficult for management to provide their employees with a clear vision of the future (Lega, Longo, & Rotolo, 2013). Begun, Hamilton, and Kaissi (2005) explain health care centers utilize strategic planning to better understand their environments and ensure the organization’s structure, culture, and important decision-making are compatible within their current surroundings. Ginter, Duncan, and Swayne (2013) describe strategic planning as “the periodic process of developing a set of steps for an organization to accomplish its’ mission and vision using strategic thinking” (p.14). The goal of strategic health care planning is to improve performance throughout the organization (Begun et al, 2005). This paper discusses the strategic plan for Brooklyn Hospital Center including its long and short- term goals, its strategic thinking and key stakeholders, and the various strategies identified within the plan.
Meeting the changing needs of healthcare today is a challenge for any organization. Meeting the challenging needs of tomorrow is even more perplexing. Centura Health, however, has a strategic plan in place for addressing the health care needs of the citizens in Colorado and Kansas for the next decade. Centura Health 2020 is designed to transform the future of health care for their patients and their surrounding communities. Using three pillars to define their vision, Centura Health plans to strengthen their foundation, move upstream to manage health, and create systems of care. With a focus on wellness and affordable care, their slogan for their strategic plan, “get better, get different” sums up their intentions. With their solid, well thought-out
When assessing where the industry will go over the next ten years, there is one area that stands out. Government involvement in healthcare has become a major player in how this industry is changing. New regulations are being introduced at a rapid rate and have pushed hospitals into constant change management (Arab Kash, Spaulding, Johnson, & Gamm, 2014).
Formed in 1998, the Managed Care Executive Group (MCEG) is a national organization of U.S. senior health executives who provide an open exchange of shared resources by discussing issues which are currently faced by health care organizations. In the fall of 2011, 61 organizations, which represented 90 responders, ranked the top ten strategic issues for 2012. Although the issues were ranked according to their priority, this report discusses the top three issues which I believe to be the most significant due to the need for competitive and inter-related products, quality care and cost containment.
My current employer, Mayo Clinic, is a world renowned not-for-profit hospital that has been established for 150 years. Mayo Clinic is the first and biggest integrated not-for-profit medical group practice in the world and is a well-known brand name that is recognized world-wide. Working for an organization where the primary value is the needs of the patient come first, the organizations domain is held to a higher standard. The mission statement is to encourage hope and contribute to health and well-being by providing the best care to all patients through integrated clinical practice, education and research (Strategic statement of Mayo Clinic, 2012). The vision statement is that Mayo Clinic will offer an unparalleled experience as the most trusted partner for health care (Strategic statement of Mayo Clinic, 2012). In the medical field, innovations, research and technology motivate the business to perform and deliver care in a new standard. Mayo Clinic has a logo of three shields that are interlocked, presenting patient care, research and education.
Competitive advantage matters greatly to those responsible for the management of healthcare institutions. Together with rapidly escalating healthcare costs, increasingly complex medical technologies, and growing regulatory and legal pressures, healthcare organizations face a critical need to improve the quality of care at reduced costs (Cu...
Mayo Clinic is a hospital that is as well-known by many to be a haven of caring and concerned doctors whos’ sole focus is to give their patients the type of care they would want their families to receive if they were patients. According to Colquitt, LePine, and Wesson (Mayo Case Study, 2014), Mayo Clinic has established a customer service, patient first culture that puts the needs of those whom they serve ahead of other focuses, such as profit or patient quotas. This corporate culture has lead the hospital to become one of the most successful and iconic medical centers in the United States. Colquitt, LePine, and Wesson (Mayo Case Study, 2014) propose several very interesting questions at the end of the reading that they ask readers to ponder.
Leaders must not just close the door on old models of healthcare delivery and clinical work; they must also turn around and face the future with a view to the emerging landscape and a commitment to develop a workable vision and to implement it.
Strategic planning has a focus on stabilizing the current environment, and it also support the organization's business plans and goals. Strategic planning helps to implement new projects, new technology, consolidation of data centers, data warehouses, exponential data growth, cost of ownership, and resources available in an organization to assess the future requirements. Strategic planning analyzes the business plan, potential blockage or other issues in the current architecture, processes and their implementation in new initiatives, and processes. Strategic planning helps to formulate the ideas about the key factors that are affecting the present and future development of the organization and the opportunities offered by the environment and the competence of the organization.