6. Strategic Planning and External Forces Influencing Health Service Providers Flashcards
Strategic Business Planning
The ideas and actions that focus on securing the desired future for an organization
strategies
Strategic Business Planning
is a management philosophy that emphasizes thinking in terms of strategies.
Strategic management:
Strategic Business Planning
addresses the question of what we should be doing and why we should be doing it.
strategic thinking
Strategic Business Planning
Where are we now?
Mission
Strategic Business Planning
Where are we going/Where do we want to be?
Vision, Goals
Strategic Business Planning
STEPS OF STRATEGIC PLANNING
- Determine where you are (strengths and weaknesses) through honest external and internal reviews
- Determine where you want to be in the long term (mission and vision) and set priorities to be addressed
- Define the objectives that must be met to address each priority
- Determine who is accountable for meeting the objectives (allocation of time, human capital, and finances)
- Conduct frequent formal reviews of the process to determine progress towards goals
Strategic Business Planning
Core Elements of a Strategic Plan:
- A mission statement
- A vision statement
- Strategic goals
- Strategic objectives
- Tactical action plans or operational plans
- Implementation planning schedule
- Outcome measures
Strategic Business Planning
The purpose is to determine the viability of an idea
Feasibility study
Strategic Business Planning
Managers might conduct ________ studies before presenting an innovative idea to upper-level managers for approval
feasibility
Strategic Business Planning
a detailed description of how a new business will achieve its financial goals
business plan
Strategic Business Planning
who is the target audience for business plans?
External financial stakeholders such as investors or lenders
Strategic Business Planning
Key business plan sections include:
- Marketing plan (e.g., customer [market] demographics, growth trends, customer preferences)
-
Operations plan (e.g., governance, business structure, human resource and infrastructure
requirements) - Financial plan (e.g., analysis of expenses, budgets, return on investment)
Strategic Business Planning
The mission statement states the
purpose for the business to exist.
Strategic Business Planning
The vision defines the
business’ ideal future state.
*Also referred to as “Envisioned Future”
Strategic Business Planning
Mission Statements Identifies:
◦ Who we are
◦ Whom we serve
◦ What we do best
◦ What is unique about us