Healthcare Analysis Essay

1. Differentiate among the terms strategic management,strategic thinking, strategic planning, and managing strategic momentum. Which of these activities is most important in a healthcare organization and why? ANS: Strategic management consists of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages. strategic management is concerned with the analysis of strategic goals (vision, mission, and strategic objectives) along with the analysis of the internal and external environment of the organization. Next, leaders must make strategic decisions. These decisions, broadly speaking, address two basic questions: What industries should we compete in?How should we compete in those industries? These questions also often involve an organization’s domestic as well as its international operations. And last are the actions that must be taken. Decisions are of little use, of course, unless they are acted on. Firms must take the necessary actions to implement their strategies. This requires leaders to allocate the necessary resources. Strategic thinking is considered a key thought process of strategic management framework; is defined as the generation and application of unique business insights and opportunities, to create competitive advantage for a firm or organisation. It can be done individually, as well as collaboratively among key people who can positively alter an organisation’s future. Group strategic thinking create more value by enabling a proactive and creative dialogue, where we gain other people’s perspectives on critical and complex issues which is an important benefit in today’s highly competitive and fast-changing business landscape. Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue a particular course of action. Generally, strategic planning deals with several key questions like 1 â€Å"What do we do?† 2 â€Å"For whom do we do it?† 3 â€Å"How do we excel?† Strategic momentum is the tendency to maintain or expand the emphasis and direction of prior strategic actions in current strategic behaviour. The most important role as leader of an organization is strategy. The best way to sustain the momentum is by following the guidelines of the Essentials for Successfully Implementing the Strategic Plan and to continue to deploy the small group of people who share the vision and are engaged in helping you implement it. According to me strategic management is the most important activity in a healthcare organization, because a well-formulated strategy can bring various benefits to the organization in present as well as in future. 1 Strategic management takes into account the future and anticipates for it. 2 A strategy is made on rational and logical manner, thus its efficiency and its success are ensured. 3 Strategic management reduces frustration because it has been planned in such a way that it follows a procedure. 4 It brings growth in the organization because it seeks opportunities. 5 With strategic management organizations can avoid helter & skelter and they can work directionally. 6 Strategic management also adds to the reputation of the organization because of consistency that results from organizations success. 7 Often organizations draw to a close because of lack of proper strategy to run it. With strategic management organizations can foresee the events in future and that’s why they can remain stable in the market. 8 Strategic management looks at the threats present in the external environment and thus organizations can either work to get rid of them or else neutralizes the threats in such a way that they become an opportunity for their success. 9 Strategic management focuses on proactive approach which enables organization to grasp every opportunity that is available in the market .2. List, describe, differentiate, and provide examples of the different levels of strategic management. ANS: 1 Corporate level 2 Divisional level 3 Organizational level 4 Unit level Corporate level strategies addresses questions like,†what business should we be in†¦.?† For example if we take Trinity, what business should we do..? Health care, including hospitals, long term care units, hospices etc. The other question would be what other options should Trinity consider like mental health centers. Divisional level strategies are more focused and provide direction for a single business type. For Example Trinity Health, strategies must be developed for separately for hospital division, out patient units, hospice care etc†¦.. how many hospitals are optional .. or what markets are available for new chain of hospitals†¦. Organizational level Strategies includes strategies made at an individual organizational level like each hospital in Trinity’s hospital division may develop their own strategies depending upon the present market conditions. Unit level Strategies support organizational strategies through accomplishing various objectives. Unit operational strategies may be developed within departments of an organizations like a hospital with different units, example Medicine department, Surgery unit or paediatric unit etc