FOR PROF XAVIER

Running head: STRATEGIC PLANNING AND MANAGEMENT 1

STRATEGIC PLANNING AND MANAGEMENT 4

Strategic Planning and Management

Name

Instructor’s Name

Strategic Planning and Management

Strategic planning is a very powerful process for guiding all types of organizations. It is particularly useful to all organizations that operate in the volatile healthcare industry. Hospitals are under increasing pressure from clients and the government to provide quality services. High levels of competition in the healthcare industry make it difficult for hospitals to deliver the expected quality of service and at the same time operate profitably. Strategic planning and management can help hospitals gain competitive advantage and increase their sustainability.

The strategic planning process adopted by hospitals can vary from hospital to hospital, but there are the key steps that must be incorporated in the process to make it effective. According to Pearce, & Robinson (2014). These are:

i. Develop/review mission and vision

ii. Conduct a business environment analysis/SWOT analysis

iii. Develop and select strategic options

iv. Establish strategic objectives

v. Develop an execution strategy

Current

Strategy

Future

Strategy

Develop/review mission and vision

Establish strategic objectives

Operational analysis

Develop and select strategic options

Core competencies

Strategy execution plan

The Strategic Planning Process for a Hospital

The first stage in the strategic planning and development process for a hospital would be to develop a strategic mission and vision. If the hospital already has an existing mission and vision statements, they should be reviewed to establish if they can act as a springboard for the organization to move to where it wants. It is the mission and vision that conveys purpose to the physicians and other employees in the hospital.

The second stage is business and operational analysis of the organization. Here the hospital conducts a SWOT analysis to understand its internal strengths and weaknesses as well as the external opportunities and threats.

The third stage entails the development and selection of strategic options. The strategic options should be developed based on input. After the hospital has identified all the strategic options it should narrow them down to those that are within its guiding principles.

The fourth stage will involve the hospital establishing strategic objectives. Here the hospital establishes and validates key measures and timelines. Once all measures are established, they are combined to form a strategic plan for the hospital. The plan should be SMART.

The final stage is the development of an execution plan for the future strategic plan. The hospital in this stage the hospital prepares its entire staff for the execution of the strategic plan. All members should be involved in this process.

In conclusion, strategic planning and management enable organizations to come up with a strategic plan. A hospital that develops and executes a strategic plan can compete more competitively and operate sustainably. The strategic planning process has five key stages which are paramount for all organizations. Individual organizations can, however, make variations to the process to adapt it to their environments.

References

Pearce, J. A., & Robinson, R. B. (2014). Strategic management (Fourteenth Edition).New York:

McGraw-Hill.