The Planning Process Flashcards
______ is the purposeful efforts taken to maximize future success
Planning
Name the 6 types of planning
Financial Organization Resources Business Strategic Contingency
What type of planning Ensures the organization is doing the right things now and in the future?
Strategic Planning: overarching effect that should guide all planning
Which type of STRATEGIC planning is best, proactive or reactive?
PROACTIVE- you are in control
Reactive- not in control b/c you are just responding to a situation that has already occured
How far out is strategic planning “planned”?
Long-term (3 to 5 years out)
_____ is the purpose of the organization?
Mission
______ Is what we want to do in the future.
Vision
Mission Statement (2)
- defines who we are
- Differentiates you from others that provide the same products or services
Vision Statement (2)
- make people think and motivate them to create a different and better future
- used in the beginning and end of strategic planning
SWOT
Strengths
Weaknesses
Opportunities
Threats
Strengths and Weaknesses are both ________.
Internal
Strengths are _____ while weaknesses are _____.
positive;negative
Opportunities and Threats are both _______.
External
Opportunities are ____ while threats are ______.
positive; negative
Strengths and opportunities (2)
- Positive attributes of an organization
- Characteristics that may bode well for success
Weaknesses and threats
-negative attributes or characteristics
Goals should _______ on strengths and opportunities while _________ threats and mitigating weaknesses
CAPITALIZE; MINIMIZING
- Effectively communicating the plan
- Implement the plan
- Monitoring the progress and assessing the results describe what part of the strategic planning process?
Post planning
Name the steps in a Business Plan (5)
- Define the Business or Program
- Conduct Market Research and Analysis
- Define Processes and Operation
- Develop a Market Strategy
- Develop Financial Projections
- Identify an Action Plan
- Establish an Exit Plan
What 3 steps need to be taken when conducting MARKET RESEARCH AND ANALYSIS?
- Evaluate market
- Evaluate competitors (SWOT)
- Assess clinical and quality requirements
The defining processes and operation involves what 2 things?
- Organizational structure
- Physical structure, equipment, and resources
Staffing and personnel requirements, job titles, job descriptions
is apart of the _______
Organizational structure
Applicable legal and profession standards,
Equipment,
Billing and payment infrastructure
are considered what?
Physical structure, equipment, and resources
Identifying target market and develop a plan to gaining business in that market describes what part of the business plan?
Developing a Market Strategy
Which step in the business plan is the most critical and must have a positive benefit-to-cost ratio in order to be approved?
Developing Financial Projections
(revenue generating is preferred)
In developing financial projections _____ and ______ should be considered via a Pro forma income statement and balance sheet projected for _______ years.
costs incurred; resulting financial benefits; 3- 5 years
Defining major milestones and action steps for periodic monitoring and performance assessment describes what step of the business plan?
Identifying an Action Plan
Defining when, why , and how the decision would be made to terminate a program and defining dissolution action plans describes what part of the business plan?
Establishing an Exit Plan
Defining major milestones involves what 2 things?
- Start and finish dates
- Persons responsible for each task necessary to accomplish the objectives of the business plan
Exit plans are usually due to what?
failure to meet predetermined goals
Establishing a business plan requires routine ___________and __________ to benchmarks or thresholds
measurement; comparison
Defining DISSOLUTION action plans involve what 3 things?
- Customer notification
- Employee notification
- Facilities, equipment, and resources
Business Planning:
Defining the business or program involves what?
Developing a mission statement to steer the direction of the business program
Business Planning:
Conducting Market Research and Analysis involves what 3 things?
- Evaluating the market
- evaluating competitors using (SWOT)
- Assessing clinical and quality requirements. (legal and professional standards)
Business Planning:
Defining the PROCESSES AND OPERATION involves what 2 things?
- Organizational structure
- Physical structure, equipment and resources
Business Planning:
Developing a MARKET STRATEGY involves what?
Identifying a TARGET market and developing a plan to gaining business in that market
T/F?
Developing Financial projections is the most CRITICAL step in business planning
True
In order for financial projections to be “APPROVED” what must be obtained?
most likely a POSTIVE benefit-to-cost ratio (revenue generating)
What must be considered when developing a FINANCIAL PROJECTION in business planning? (2)
Costs incurred and resulting financial benefits evaluated via Pro forma income statements and balance sheets
-3-5 year projections
Business Planning:
Identifying an ACTION PLAN involves what 2 things?
- defining major milestone
- defining action steps for periodic monitoring and performance assessment
Business Planning:
Establishing an EXIT PLAN involves what 2 things?
- defining when, why, how the decision would be made to terminate a program
- defining dissolution action plan
T/F?
When presenting a business plan ORAL presentation is NOT as important as WRITTEN plan.
False
-both oral and written are just as important
When presenting a business plan what should be considered(2)?
- audience
- politics , group dynamics, and personal interactions that can have a positive or negative influence on both the presenter and audience.
Pre Planning or Planning?
- Conduct a situation analysis
- Strategize the destination (vision) in mind
Planning
Pre Planning or Planning?
Who’s going to be involved?
Pre-planning
T/F Plans should be Static
FALSE: should not be static but flexible
- planning is not a substitute for action
- plans are only as good as the information going in
____ is the most critical step in business planning
develop financial projections
4 Key Functions of Planning Process?
- organizing
- leading
- planning
- controlling
situational analysis
assess the situation and establish goals
