Assignment 01: Introduction to Business Strategy

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Strategic Analysis for Healthcare

Preface / Chapter 1

Health Administration Press

Preface

In using this book, the authors recommend you assign your students to groups.

Each group should pick or be assigned a healthcare organization, either for profit or not for profit, to study.

The chapters will describe new topics and provide exercises for the groups to apply to their chosen organization.

Health Administration Press

Introduction to Business Strategy

The development of business strategy begins by asking three important questions:

Where are we now? (internal and external analysis)

Where do we want to be? (mission and strategy development)

How do we get there? (strategy development and implementation)

Health Administration Press

Introduction to Business Strategy

We begin by looking at questions 1 and 2: Where are we, and where do we want to be in the future?

Answering these questions involves understanding the organization’s mission as it exists and reassessing it for where the company sees itself in the future.

Understanding the organization’s current mission statement is sometimes straightforward but other times extremely difficult.

Sometimes a mission statement is simply a plaque on the wall.

Where the organization really sees itself might be something completely different.

Health Administration Press

Introduction to Business Strategy

Getting from today to a desired future state—the focus of question 3—is a difficult journey, and it depends on numerous factors, including how the organization sees itself, its competitors, its market, and so on.

Health Administration Press

Introduction to Business Strategy

A McKinsey Quarterly survey of 2,207 executives revealed the following (Lovallo and Sibony 2010):

28 percent of executives surveyed said that the quality of strategic decisions in their companies was generally good.

60 percent thought that bad decisions were about as frequent as good ones.

12 percent thought good decisions were generally absent.

Health Administration Press

Introduction to Business Strategy

Research -

Internal & External

Health Administration Press