Week 6 Assignment - Strategic Planning Implementation and Evaluation

Introduction

Wake Med Hospital is one of Raleigh's and North Carolina's largest medical institutions. It aims to provide professional competence and human kindness in serving the physical, spiritual, and emotional needs of various populations. Its goal is to become the community's first choice provider and a health and wellness partner. To accomplish these goals, the hospital will require a plan that will guide it toward its purpose and vision goals. As a result, I've chosen a strategic planning strategy that will help the hospital focus on providing the finest service possible. The strategy focuses on SWOT analysis to discover which departments require development and which pose a danger to progress.

One of the strategic approaches that may be utilized to help a business/organization progress is strategic management. Strategic management is more of a process than a final confrontation. It entails the establishment of an organization's goals, the processes to be followed to accomplish those goals, and the organization's objectives. The entire procedure is designed to raise the organization's competitiveness in comparison to its competitors. Strategic management focuses on the most efficient use of human resources and other resources to meet predetermined objectives. The method takes into account a few variables, including strategic appraisal, internal organization analysis, and firm strategy implementation.

Strategic thinking is mostly a form of thinking including ideas and intentions. It is nothing more than a sensible thought. Its goal is to concentrate on the examination of a company's important components and variables. As a result, the focus of the study is on advancing the organization's position toward success. It also entails serious consideration of the best course of action. Threats and susceptible areas of the firm must be anticipated to devise countermeasures. The rational consideration of the company's goals and their attainability is also part of the process. This ensures that there are clear objectives to strive toward. The company strategies, as well as any new ideas that may arise in the future, are thoroughly thought out. For survival in a changing environment, the company strategy must include a process for dealing with competition and how to adopt new ideas (Terzic-Supic, et al 2015). To be well-equipped in anticipatory skills, strategic thinking necessitates a great deal of study and problem-solving abilities.

Strategic planning is a process through which an organization's management works to achieve its goals in the most effective way possible. The process begins with management establishing the organization's goals and objectives. There's also the organization's energy and resources being focused on certain aims. The management is likewise concerned with the strengthening of operations, as they aim to guarantee that all employees and stakeholders are working toward a shared goal. The plan's goal is to analyze and alter the organization's course in response to changing circumstances. It is a discipline that ensures that the organization knows what it should do and how it should accomplish it. It establishes the true nature of a company.

An organization's management must keep the strategic momentum going. This refers to the capacity to overcome lethargy and take action to attain specified goals. It's a factor that connects the concepts of decision-making and outcomes. Its goal is to ensure that all subsequent actions and outcomes are aligned with a given goal. This section of the analysis ensures that the management process does not deviate from the plan's original aim (Terzic-Supic, et al 2015). All changes that occur inside the organization should be addressed while keeping the organization's primary business in mind.

Strategic planning entails the creation of a strategy by management that keeps the entire organization focused on certain priorities and goals. The company concentrates all of its resources on achieving a certain goal. As a result, proposing the SWOT analysis as an adaptable approach seems comprehensible. The SWOT analysis contains some of the most effective methods, as well as a variety of different adaptable strategies that may be used. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats and is an acronym for Strengths, Weaknesses, Opportunities, and Threats (Bryson, 2015). The four words have a lot of weight when it comes to planning a company's future strategy.

The goal of strategic planning is to focus the organization's capabilities on achieving a certain goal. It specifies what an organization should do, how it should do it, and to whom it should do it. The strengths are the first term in the SWOT analysis. When it comes to strategic planning, a firm must examine its strengths even more. When a company assesses its strengths, it capitalizes on them. The company will capitalize on its strengths to gain a competitive edge. When you concentrate on what you're good at, you'll get more done than if you concentrate on what you're bad at. SWOT analysis will be of great assistance in that direction, just as strategic planning requires strength to be focused on the goal.

The second abbreviation stands for weaknesses. There will always be a vulnerability in any organization, just as there will always be strong spots. The SWOT analysis allows the company to discover its flaws. The company's ability to realize its goals depends heavily on the analysis of its vulnerabilities. Weaknesses will inevitably cause the company to fall behind. The shortcomings are holding back what might otherwise be rapid growth. The identification of flaws allows management to concentrate on them and strategies to improve them. The reduction of areas of weakness will ensure that there are fewer variables that will stifle the organization's growth and prosperity. If a flaw cannot be remedied, it should be avoided for the sake of the organization's success (Bryson, 2015). The fewer the flaws, the more effective the strategic strategy will be.

As a result of business interactions, various possibilities arise in any corporation. Opportunities are constantly lurking around the corner, and it is up to management to ensure that its strategic plan is well-equipped to seize them. In a corporate setting, opportunities can appear in a variety of forms. The company should continuously think about what opportunities are available to them. Not all possibilities are beneficial to all businesses. Although an opportunity may exist, its initiation may not be extremely advantageous for the firm. The corporation must evaluate current business trends and determine whether trends may be modified. The company might also explore converting its strengths into opportunities. If a corporation has control over a certain area of the business sector, it has a distinct advantage. It is an opportunity that must be taken advantage of.

A strategic strategy may also be vulnerable to dangers. Competition is a regular threat from competitors that must be addressed. Activities that rivals participate in can be utilized against them as counter-threats. Threats are potential elements that might cause a business to collapse. Threats must be met with countermeasures if they pose an immediate threat to the organization (Bryson, 2015). Some hazards arise as a result of flaws, making the elimination of flaws a top concern.

There is a requirement for the Wake Med medical hospital to use the SWOT analysis approach. Wake Medical Center is Raleigh's leading healthcare center. This implies it will have to deal with a large number of patients from throughout North Carolina. If Wake Med hospital wants to achieve its objective and mission, it must use the SWOT analysis analytic tool. The hospital's objective is to provide professional competence and human kindness in serving the varied community's medical, spiritual, and emotional needs. Its purpose, on the other hand, is to be the community's preferred health and wellness provider and partner. They are high-caliber assertions that will take a lot of effort to obtain.

If the hospital is to focus on the mission statement, it will require a strategic strategy. The strategic plan outlines the organization's aims and goals, which in this case is the hospital. The hospital has a purpose, or more accurately, an aim. The person must ensure that their attention is focused on providing the best physical, spiritual, and emotional service possible. As a result, it is the responsibility of management to assess the strengths and weaknesses of their employees concerning their mission (Alharbi, et al., 2012). It must take into account how effectively doctors serve their patients and the feedback they receive from both patients and the general public.

As the hospital concentrates on patient feedback, it must also concentrate on patient concerns. When it comes to complaints, the major focus should be on determining which departments receive the most and which do not. This will determine the hospital's weak points and which departments require further attention to improve their offerings. Weakness means that the hospital's mission, as well as the vision, will not be realized.

Opportunities are also critical to achieving the hospital's goal and vision. In the field of technology, there are always hospital-based trends. In terms of medication and machines, the hospital must ensure that it keeps up with the times. Equipping the hospital with cutting-edge technology will propel it to new heights, making it a popular choice for many. Management should also maintain an ear to the ground in the medical community for possibilities. Any services that are in great demand throughout the state should be given top attention.

Even in the medical field, there are threats. Some hospitals choose to have more advanced technology than others, which poses a risk. If patients do not come to the hospital, the hospital will be rendered ineffective. Low pay can pose a hazard to the employees. Last year, there was a strike over payment disagreements, and this year will be no different. A strike might be the hospital's greatest fatal threat. Patients will seek treatment at other hospitals due to a dearth of medical services. Staff on strike may be called to work in competing hospitals for higher pay (Alharbi, et al., 2012). Losing workers to competitors is extremely risky for the hospital's advancement and competitive advantage. Some of these risks must be addressed quickly before it is too late.

However, due to a variety of reasons, the strategic plan may meet some difficulty in implementation. The tough transition into the plan might be caused by both internal and external causes. Internal variables are those that originate from within the organization, whereas external factors are those that originate from outside the organization.

There may be some resistance from management when it comes to implementing the strategic strategy. The idea may be opposed by some members of the Wake Med hospital board. When it comes to change, there is always an issue. If we focus a lot of emphasis on one area and then shift it to another, the people in charge of that department might not take it well. Another factor might be the personnel. It may take some time for the employees to adjust to the new strategy. It might take a long time for them to fully comprehend it. The workforce may be under a lot of pressure to perform better and provide better services. Finally, it may take some time for the entire hospital to understand and absorb the strategy.

External variables may also have an impact on the plan's acceptance. Changes in the hospital's organization may not always be favorably received by the patients. Some people would want to be treated by a certain doctor or nurse. If they are served by a new individual, they may not be impressed, resulting in negative feedback owing to past patterns. The hospital's outdoor surroundings might be a hazard. Before things pick up, there's a tiny snail. Competitors may take advantage of the situation to make things tough for the institution.

The plan's execution obstacles must be resolved or worked around. The new strategic plan must be well-understood by both the board of directors and the personnel. Adoption can be fraught at times simply due to a lack of understanding. Both the board members and the employees will get a better grasp of the strategy as a result of the education. In terms of patients, they must be taught that all physicians are competent. They must be led to believe that all doctors provide the same level of care. The problem of choice will be resolved at that point. Competitors will be at a minimum if the transition to the new plan is seamless and free of obstacles.

The strategic plan aims to ensure that patients are happy with the services provided by the hospital. As a result, it's critical to recognize that the strategy is aimed at Wake Med hospital's service users and their pleasure. All of the methods will result in the consumer's pleasure. This will necessitate improved performance from managers, nurses, physicians, and other support personnel. The hospital has an adequate supply of drugs as well as the necessary equipment.

For my suggested strategic plan to be approved, it will require some marketing. Giving a quick overview of something new in the market is one technique to advertise it. The description must clearly distinguish itself from the preceding strategic strategy. A comparison to the prior strategy can also be used to persuade people. Its benefits will also be compelling, causing many people to enjoy the concept and so embrace it.

References

Alharbi, T. S. J., Ekman, I., Olsson, L. E., Dudas, K., & Carlström, E. (2012). Organizational culture and the implementation of person centered care: results from a change process in Raleigh hospital care. Health policy, 108(2-3), 294-301.

Bryson, J. M. (2015). Strategic planning for public and nonprofit organizations. In International Encyclopedia of the Social & Behavioral Sciences: Second Edition (pp. 515-521). Elsevier Inc...

Terzic-Supic, Z., Bjegovic-Mikanovic, V., Vukovic, D., Santric-Milicevic, M., Marinkovic, J., Vasic, V., & Laaser, U. (2015). Training hospital managers for strategic planning and management: a prospective study. BMC medical education, 15(1), 1-9.