Business

Benefits of Strategic Planning

Thu, 18 Mar 2010 20:42:22 GMT

Some of the benefits of strategic planning are:

1. Secures the future of the organization.

2. Provides a road map, direction, and purpose for the organization.

3. Sets priorities.

4. Allocates resources available for growth.

5. Establishes measures of success.

6. Gets input and ideas from all parts of the organization.

7. Gains commitment to implement the plan.

8. Coordinates the actions of diverse and separated parts of the organization into unified programs to accomplish objectives.

Source: Healthcare Strategic Planning, Is Strategic Planning Still Relevant?, page 8-9

Marketing

Tue, 16 Mar 2010 13:58:14 GMT

We get so carried away in strategic planning and statistical analysis to optimize the resource utilization that we often tend to overlook the impact of simplest of marketing tools like 'communication'.

As per Griffith book, surveys, written and oral reports, and statistical monitors provide a rich base for understanding relationship needs but the results are improved when paired up with deliberate personal contact, especially at senior management level. Personal contact activities yield qualitative and highly subjective information.

These facts are important to remember as we move forward in technologically driven universe.

Organizational Policies and Procedures

Mon, 15 Mar 2010 15:45:27 GMT

Policies are of two types: general and operational. General policies apply to the entire organization, whereas operational policies pertain to a specific unit, department or service.

Procedures, on the other hand, are used to define specific actions for organizational members. They usually come in the form of a sequence of steps to complete a task.

Examples of these are procedures for admitting or discharging patients or ordering supplies. Good policies have a number of characteristics: (1) They are consistent with larger organizational objectives, (2) Their impact is well thought out before they are formalized, (3) They are flexible so they can be applied in typical as well as unique situations, (4) They are ethical and legal, and reflect the values of the organization, (5) They must be clear and understood and (6) They must be consistent with each other.

(Manual for the Board of Governors Examination in Healthcare Management; page 120)

Documenting the Strategy...

Thu, 11 Mar 2010 00:21:15 GMT

Long Range plans or strategic plans include the following parts (Griffith, White pg 613-614):

Envirnmental Forecasts
Services plan
Long-range plan
Information services plan
Human resources plan
Medical staff plan
Facilities plan

Although this is an example from the book, can anyone else share other items to add to a strategic plan that may not be on this list?

What are the four elements of a valid business contract?

Mon, 08 Mar 2010 17:53:50 GMT

The four elements of valid contract are:

an agreement after an offer is accepted
there is consideration or something of value in the agreement
the agreement is reached by parties who have the legal capacity to contract
the contract's objective or purpose is lawful

Strategic Opportunities

Sun, 07 Mar 2010 19:13:58 GMT

Which of the following is not one of the five forces that must be addressed according to Porter's framework for evaluating strategy:

1)buyers and customers

2)new technology and substitutes

3)External domain

4) Resource availability

5)Competitor Activity

6)Potential Competitors

Answer 3--Source p. 608 Griffin and White

Cascading the Strategic Plan

Sat, 06 Mar 2010 16:59:18 GMT

It is interesting on how many organizations have not cascaded the Strategic Plan down to department goals and objectives. Thoughts?