Strategic Planning and Management

Question 1

The strategic planning process is used by business managers to answer three basic questions:

Answer 1

Where are we now?
Where are we going?
How will we get there?

Question 2

Core Elements of a Strategic Plan

Answer 2

Mission Statement	
Vision Statement
Strategic Goals
Strategic Objectives
Tactical Action Plans or Operational Plans
Implementation Planning Schedule 
Outcome Measures

Question 3

Strategic management

Answer 3

management philosophy that emphasizes thinking in terms of strategies.

Question 4

Strategic thinking

Answer 4

addresses the questions of what we should be doing and why we should be doing it.

Question 5

Strategic planning

Answer 5

addresses, in general, the questions of how and when we should take action

Question 6

The value of a strategic plan is

Answer 6

communicates
aligns
motivate
focuses
prioritizes
scans

Question 7

Communicate:

Answer 7

It communicates where and how the organization is going to fulfill its mission to internal and external audiences

Question 8

Aligns:

Answer 8

It aligns efforts at all levels of the business

Question 9

Motivate:

Answer 9

It can motivate employees to contribute to the business’ success

Question 10

Focuses

Answer 10

Focuses thinking

Question 11

Prioritizes

Answer 11

Prioritizes efforts

Question 12

Scans

Answer 12

Scans external environment

Question 13

Core Elements of a Strategic Plan

Answer 13

A mission statement
 A vision statement
 Strategic goals
 Strategic objectives
 Tactical action plans or operational plans 
 Implementation planning schedule
 Outcome measures

Question 14

Mission Statement

Answer 14

Purpose of Business

Question 15

Value Statement

Answer 15

What motivates a business and the behaviors it promotes in its employees

Question 16

Vision Statement

Answer 16

Ideal future state

Question 17

Strategic Goals

Answer 17

Ways to get from current state to ideal state

Question 18

Strategic Objectives:

Answer 18

Plans that will move the business toward goals

Question 19

Tactical Action Plan:

Answer 19

Timelines for achievement with measurable outcomes

Question 20

Implementation of Planning Schedule:

Answer 20

Breaks up the annual plan into smaller plans with meeting schedule

Question 21

Outcome Measures

Answer 21

Did we achieve what we set out to do? Scorecard

Question 22

Tactical Action Plans have:

Answer 22

Are specific
Have set timelines for achievement (implementation schedule)
Assign responsibility
Produce measurable outcomes

Question 23

Balanced score card

Answer 23

management tool that can be used to share and report outcome measures.

Question 24

Strategic Planning Model

Answer 24

Leadership Style –based models

Scope and Complexity-based models

Question 25

Leadership style–based models are:

Answer 25

``` Commander model (top management prescribes) Change model Collaborative model Cultural model Crescive model (bottom up direction, top level responds) ```

Question 26

Scope- and complexity-based models:

Answer 26

``` Basic model (planning done by top management) Issue-based model Alignment model Scenario model Organic model (all organizational levels participate) ```

Question 27

Strategic Plan

Answer 27

qualitative: Minimal hard numbers, broad focus, and it doesn’t focus on financial Strategic plan is global; a general road map

Question 28

Business Plan

Answer 28

Quantitative: Specific Detailed Information

Question 29

Business Plan includes

Answer 29

Marketing Plan: customer preferences, growth trends, size Operational Plan: Building Needs, business capacity, tech requirements, infrastructure needs Financial Plans: MONEY (capital expenses, revenue, opportunity cost

Question 30

External factors seen as

Answer 30

opportunities and threats

Question 31

Internal factors seen as

Answer 31

strengths and weaknesses

Question 32

PEST factors:

Answer 32

Political (e.g., tax rate, price regulation) Economic (e.g., state of economy, interest rate) Social (e.g., market demographics, attitudes) Technological (e.g., new devises, infrastructure)

Question 33

DEBT SPACES

Answer 33

``` Demographic Economic Political Technology Stakeholder Perceptions Accountability Competition Ecology Social ```

Question 34

E:

Answer 34

Economic Environment | how consumers, providers of services, producers of goods, and government chose to use their limited financial resources.

Question 35

P

Answer 35

Political Environment Payment for appropriate services Arbitrary annual cap on reimbursement Referral for profit (referrers employing PTs) Clients having direct access to PTs (no referral) Clinical competence for relicensing

Question 36

T

Answer 36

``` Technology Environments more than durable goods; it includes ideas, methods, and anything else that enhances human capabilities. Computer-based products and services Evidence-supported interventions Consultant services Manufacturers’ websites ```

Question 37

S

Answer 37

Stakeholder Environment Those who want to influence decisions because they have something to gain or lose depending on the decision are stakeholders Internal stakeholders are members of the organization (staff). Interface stakeholders are part of the organization but also have a legal identity outside of the organization (contract PTs). External stakeholders are outside the organization (referrers).

Question 38

P

Answer 38

Perception Environment understandings that stakeholders and potential stakeholders have about an organization whose success they have a stake in

Question 39

A

Answer 39

Accountability Environment To whom does the organization have legal responsibilities? What do the mission/values statements say about how we treat others? With whom has there been proactive follow-up on unfinished business that the organization agreed to complete?

Question 40

C

Answer 40

Competition Environment | Look for the soft spots in your competition. Where are they vulnerable?

Question 41

E

Answer 41

Ecology Environment Two environmental areas to look at are competitors’ impact on: Public health (e.g., disposal of waste matter) Their neighborhood’s natural and architectural environment (e.g., harmony, taste, quality)

Question 42

S

Answer 42

Social Environment Social variables of a target population like age, base language, and lifestyle are important when choosing staff members, practice location, and equipment

Question 43

Mission

Answer 43

Who we are? Who our customers are? What sets us apart from our competitors?

Question 44

Vision

Answer 44

A clear vision for the future serves to focus and align the efforts of the business toward a common goal. Where are you headed? Concisely identifies what the business can be like Provides guidance when choosing between options Evolves as the business grows and changes

Question 45

Values Statement

Answer 45

describe the forces that motivate a business and the behaviors it promotes in its employees.

Question 46

Important Elements of an Internal Organizational Assessment

Answer 46

``` Mission, vision, and values Regulatory compliance Governance and management model Organizational structure Operational processes Human resources Customer satisfaction Financial operations and resource availability ```

Question 47

SMARTER goals:

Answer 47

``` Specific Measurable Acceptable Realistic Timed Evaluated Reviewed ```