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PT Management and Administration > Strategic Planning and Management > Flashcards

Strategic Planning and Management Flashcards

1
Q

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

A

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

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2
Q

Core Elements of a Strategic Plan

A 
Mission Statement	
Vision Statement
Strategic Goals
Strategic Objectives
Tactical Action Plans or Operational Plans
Implementation Planning Schedule 
Outcome Measures
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3
Q

Strategic management

A

management philosophy that emphasizes thinking in terms of strategies.

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4
Q

Strategic thinking

A

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

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5
Q

Strategic planning

A

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

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6
Q

The value of a strategic plan is

A 
communicates
aligns
motivate
focuses
prioritizes
scans
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7
Q

Communicate:

A

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

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8
Q

Aligns:

A

It aligns efforts at all levels of the business

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9
Q

Motivate:

A

It can motivate employees to contribute to the business’ success

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10
Q

Focuses

A

Focuses thinking

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11
Q

Prioritizes

A

Prioritizes efforts

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12
Q

Scans

A

Scans external environment

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13
Q

Core Elements of a Strategic Plan

A 
A mission statement
 A vision statement
 Strategic goals
 Strategic objectives
 Tactical action plans or operational plans 
 Implementation planning schedule
 Outcome measures
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14
Q

Mission Statement

A

Purpose of Business

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15
Q

Value Statement

A

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

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16
Q

Vision Statement

A

Ideal future state

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17
Q

Strategic Goals

A

Ways to get from current state to ideal state

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18
Q

Strategic Objectives:

A

Plans that will move the business toward goals

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19
Q

Tactical Action Plan:

A

Timelines for achievement with measurable outcomes

20
Q

Implementation of Planning Schedule:

A

Breaks up the annual plan into smaller plans with meeting schedule

21
Q

Outcome Measures

A

Did we achieve what we set out to do? Scorecard

22
Q

Tactical Action Plans have:

A

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

23
Q

Balanced score card

A

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

24
Q

Strategic Planning Model

A

Leadership Style –based models

Scope and Complexity-based models

25
Q

Leadership style–based models are:

A 
Commander model (top management prescribes)
Change model
Collaborative model
Cultural model
Crescive model (bottom up direction, top level responds)
26
Q

Scope- and complexity-based models:

A 
Basic model (planning done by top management)
Issue-based model
Alignment model
Scenario model
Organic model (all organizational levels participate)
27
Q

Strategic Plan

A

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

28
Q

Business Plan

A

Quantitative: Specific Detailed Information

29
Q

Business Plan includes

A

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

30
Q

External factors seen as

A

opportunities and threats

31
Q

Internal factors seen as

A

strengths and weaknesses

32
Q

PEST factors:

A

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)

33
Q

DEBT SPACES

A 
Demographic
Economic
Political
Technology
Stakeholder
Perceptions
Accountability
Competition
Ecology
Social
34
Q

E:

A

Economic Environment

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

35
Q

P

A

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

36
Q

T

A 
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
37
Q

S

A

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).

38
Q

P

A

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

39
Q

A

A

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?

40
Q

C

A

Competition Environment

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

41
Q

E

A

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)

42
Q

S

A

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

43
Q

Mission

A

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

44
Q

Vision

A

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

45
Q

Values Statement

A

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

46
Q

Important Elements of an Internal Organizational Assessment

A 
Mission, vision, and values 
Regulatory compliance 
Governance and management model 
Organizational structure
Operational processes
Human resources
Customer satisfaction 
Financial operations and resource availability
47
Q

SMARTER goals:

A 
Specific
Measurable
Acceptable
Realistic
Timed
Evaluated
Reviewed

PT Management and Administration (10 decks)

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