...Strategic Management Process November 22, 2010 Strategic Management Process Strategic planning is key to the success of any organization. According to Wheelen and Hunger, strategic management is a compilation of goals that will determine the future of an organization. Strategic planning includes internal and external environmental scanning, strategic or long-range planning, implementation, followed by evaluation, and control (2010). An organization will attempt to follow the four phases of strategic management to ensure success. The four phases are financial planning, forecast-based planning, external-oriented planning, and strategic management. Financial planning allows the managers to commence a serious planning process to create a budget for the next year. The ideas that the management proposes are usually based on information from the firm with little analysis done prior. Input comes from the sales forces but lacks environmental information. The basic financial planning usually halts normal work for a time to create a proposed budget and the time horizon in one year. The next phase is forecast-based planning so that a three to five-year plan will be created. The projects taken into consideration may be longer than a year in length. Managers gather both internal information and environmental data to create a possible trend for the next five years. Although this phase is time-consuming it is required to weed through the political aspects, evaluate proposals, and justify...
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...Strategy means a plan or a method selected and used to bring about a desired future, such as realization of a goal or solution to a problem. Strategic vision is the using of ideas to direct the activities and actions in order to grow a business and usually is included in the company statements so all manages can share the vision and make decision according with this. The strategy is providing organization, the framework for understanding its place and position on the market and how to move forward in terms of route and purpose. A mission statement describes basically what an organization is, why it happens, and its reason for existence. The mission statement reflects every facet of your business: the range and nature of the products you offer, pricing, quality, service, marketplace position, growth potential, use of technology, and your relationships with your customers, employees, suppliers, competitors and the community. A great business strategy can be summary described as an easy and clear way to understand and communicate the organization vision and mission internally and externally to the customers. IKEA had a good vision “to create a better everyday life for the many people”, using the concern of people for the environment and how to use in the better way both energy and raw materials. An aim is where the business wants to go in the future, its goals and is a statement of purpose (i.e. we want to grow the business in whole Europe). Business objectives are the quantified...
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...Strategic Planning and Nursing Process Your name HCS/482 January 12, 2015 instructor Strategic Planning and Nursing Process Strategic planning and the nursing process have many similarities, however strategic planning has the potential to affect how nurses perform in profound ways. As the integration of technology and informatics, takes hold in healthcare settings nurses can help use their knowledge of the nursing process to develop a strategic plan to best incorporate this emerging technology. The goal of this paper is to compare the nursing process and the strategic planning process, as well as nurses’ role in both processes. Comparison “The nursing process is a scientific method used by nurses to ensure the quality of patient care” (Nursing Process, 2014, para 1). The nursing process helps nurses develop a plan to guide patient care through assessment, diagnosis, planning, implementation, and evaluation. Similarly, strategic planning is a method to design a comprehensive plan to guide an organization’s operations. Strategic planning has many of the same steps as the nursing process; assessment, analysis and identification of potential solutions, course of action, implementation, and evaluation/feedback (Hebda & Czar, 2013). While the nursing process focuses on a single patient’s goals, strategic planning focuses on organizational goals. The nursing process often involves a nurse and a patient, however strategic planning affects a variety of internal...
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...Week 3 The Strategic planning process Click Link Below To Buy: http://hwcampus.com/shop/week-3-strategic-planning-process/ HCA7022-8 > Strategic Planning Stages > Week 3 A Situational Analysis A situational analysis is the first stage of strategic planning. It typically begins with an analysis of the current and recent situation of the organization. The situational analysis sets the tone and its purpose is to understand past successes and failures, allow those less knowledgeable about the organization to build a solid understanding, help determine what factors are subject to the organization’s control, and how external forces may affect the organization in the future. This stage also examines the organizational direction of the agency. It sets high-level direction, encompassing mission, vision, values, and key overall organizational strategies. Review the resources attached to prepare for this week’s assignment(s). After convincing senior leadership at your hospital that developing a strategic plan is necessary, leaders have asked you to provide more detailed information on how to begin this process. Prepare a PowerPoint presentation for your next meeting with leadership to provide this information. After examining Chapters 3 and 4 in your text, provide at least three (3) reasons why conducting a thorough situational analysis is the first crucial step in developing a strategic plan. Be sure to focus on the health care field and internal and external environments...
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...The Strategic Planning Process In the 1970's, many large firms adopted a formalized top-down strategic planning model. Under this model, strategic planning became a deliberate process in which top executives periodically would formulate the firm's strategy, then communicate it down the organization for implementation. The following is a flowchart model of this process: The Strategic Planning Process Mission | V Objectives | V Situation Analysis | V Strategy Formulation | V Implementation | V Control This process is most applicable to strategic management at the business unit level of the organization. For large corporations, strategy at the corporate level is more concerned with managing a portfolio of businesses. For example, corporate level strategy involves decisions about which business units to grow, resource allocation among the business units, taking advantage of synergies among the business units, and mergers and acquisitions. In the process outlined here, "company" or "firm" will be used to denote a single-business firm or a single business unit of a diversified firm. Mission A company's mission is its reason for being. The mission often is expressed in the form of a mission statement, which conveys a sense of purpose to employees and projects a company image to customers. In the strategy formulation process, the mission statement sets the mood of where the company should go. Objectives Objectives are concrete goals that the organization seeks...
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...THE PROCESS OF STRATEGIC PLANNING ARTICLE #1 OF 10 INTRODUCTION TO STRATEGIC PLANNING Strategic planning is to a business what a map is to a road rally driver. It is a tool that defines the routes that when taken will lead to the most likely probability of getting from where the business is to where the owners or stakeholders want it to go. And like a road rally, strategic plans meet detours and obstacles that call for adapting and adjusting as the plan is implemented. Strategic planning is a process that brings to life the mission and vision of the enterprise. A strategic plan, well crafted and of value, is driven from the top down; considers the internal and external environment around the business; is the work of the managers of the business; and is communicated to all the business stakeholders, both inside and outside of the company. As a company grows and as the business environment becomes more complex the need for strategic planning becomes greater. There is a need for all people in the corporation to understand the direction and mission of the business. Companies consistently applying a disciplined approach to strategic planning are better prepared to evolve as the market changes and as different market segments require different needs for the products or services of the company. The benefit of the discipline that develops from the process of strategic planning, leads to improved communication. It facilitates effective decision-making, better selection of tactical options...
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...However, a business must also be aware of why it is different to others in the same market. This case study looks at the combination of these elements and shows how Kellogg prepared a successful strategy by setting aims and objectives linked to its unique brand. One of the most powerful tools that organizations use is branding. A brand is a name, design, symbol or major feature that helps to identify one or more products from a business or organization. The reason that branding is powerful is that the moment a consumer recognizes a brand, the brand itself instantly provides a lot of information to that consumer. This helps them to make quicker and better decisions about what products or services to buy. Managing a brand is part of a process called...
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...Strategic Planning and Nursing Process Every decision-making process requires the basic steps of problem identification, intervention and evaluation. In healthcare, both the nursing process and strategic planning involve proper identification of a problem, gathering of data, formulating a plan, and deciding which intervention is the best to implement. After the intervention, evaluation is necessary. Strategic planning and the nursing process both are essential when developing medical informatics. The goal of this paper to identify the nurse’s role in both strategic planning and the nursing process, describe the differences between them, and how nurses can become more involved in strategic planning in informatics. Differences Between Strategic Planning Process and the Nursing Process Strategic planning is a process that focuses on the organization’s vision for the future. It is a management tool that aligns the organization’s vision with its mission, values, long-term goals, services, people served and resources. It also includes setting policy guidelines. It is a long-term process, where reassessments are made based on the internal and external changes occurring with the organization. (Hebda and Czar, 2013). Successful strategic planning is vital to the survival of a healthcare organization, given the competitive market and changing health care reforms. Strategic planning is led by the organization’s chief executive officer (CEO) and board of directors and work with a diverse...
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...Strategic Planning and the Nursing Process Paper Brandon A Hazlett, RN HCS/482 June 1, 2015 Billy Kesserwani Strategic Planning and the Nursing Process Paper Strategic planning and the nursing process are both essential when one is developing medical informatics. The use of the nursing process is an exceptional demonstration of how the elements utilized within the process can be applied to strategic planning. The reason for this is the basis that both processes use the same elements to construct or utilize the system in which they are being applied. With the use of strategic planning and the nursing process, it is imperative to ensure that health care professionals understand and can properly utilize the language within the information technology world. The nursing process includes five steps to ensure care of patients. The five steps are assessment, diagnosis, planning, implementation, and evaluation. Strategic planning is similar to the nursing process in the way in which we assess and ascertain information from our patients and their support system. Strategic planning assesses one's understanding and comprehension that changes are required in a specific situation and that no situation is always that same. When using strategic planning, the project implementation team consists of representatives from departments within a facility. The departments typically include managers and employees on the front lines that are most accustomed to the activities or workings...
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...Strategic Planning and the Nursing Process Tuesday VanTuyl HCS/482 05/20/2015 Marilyn Goodloe Strategic Planning and the Nursing Process Nurses today work in a time of fast paced change and ever evolving technology. Just as the patient must be assessed and plans of care adapted, the way we care for those patients must change and adapt as well. The nursing process is the essential core practice of registered nurses in providing care (ANA, 2015). The familiarity of nurses in using a systematic approach makes them key players in strategic planning. Each of these processes share key components and differences but are both necessary elements of successful health care delivery. Registered nurses play an increasing role in the strategic planning and incorporating of informatics into the health care setting. Strategic Planning Strategic planning was initially mandated in 1974 by the National Health Planning and Resources Act but later repealed in 1983 (Hebda & Czar, 2013). The purpose of the mandate was to ensure that hospitals investing in new technology had a detailed plan describing how the investment met the goals of public policy by reducing costs, improving quality, and increasing access (Hebda & Czar, 2013). While not mandated, strategic planning is a widely used method to achieving health organizations goals today. Strategic plans are designed by looking at all the pieces of the puzzle and how they will fit together to achieve the goal of an organization (Strategic...
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...Strategic Planning and the Nursing Process HCS 482 May 5, 2014 Diana DeLucia, M.S., PMP, CISA, CISM Strategic Planning and the Nursing Process When discussing strategic planning the nursing process does not instantly come to mind and vice versus when discussing the nursing process strategic planning does not come to mind. After taking a closer look at these two processes though there are many similarities between the two that will be discussed in this paper along with the nurse’s role in both processes, and how nurses can become more involved in strategic planning in informatics. Strategic planning involves laying the ground work for a healthcare agency to adapt the use of healthcare information technology (Sewell & Thede, 2013, p. 355). This process should be a creative a flexible one. A good strategic plan will guide practice changes and decision making over a 3-10 year period. If the plan is creative and flexible it will allow for changes to be made over the course of time. This is especially important with keeping up with the latest technology. According to Hebda & Czar (2013), “Strategic Planning is very simply the process of determining what an organization wants to be in the future and planning how it will get there” (p. 139). The “Nursing Process is a systematic, rational method of planning and providing care which requires critical thinking skills to identify and treat actual or potential health problems and to promote wellness” ("Nursing Process...
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...Nurses need an understanding of Nursing Informatics. “As nurses access data and process into information and knowledge, they build the wisdom necessary to positively affect the lives of their patients” (Mcgonigle, Hunter, Sipes, & Hebda, 2014, p. 324). Nursing informatics allows the nurse to track real-time patient outcomes, find data trends and access workload and interventions through the use of analytics. Because of the mandated healthcare reform, health systems will be transitioning to incorporate health information technology into the organization. “Organizations will be engaged in the implementation of the electronic health records, barcode medication administration, clinical documentation systems, data structures to participate in regional health information exchanges, and in the development of customer portals, patient health records, and other customer directed initiatives” (Hebda et al, 2013, Ch 7). It’s important for nurses to become more involved in Nursing Informatics. Evolving advances occur in nursing practice and technology. Being part of an education committee that introduces new technology resources and provides the education of use and purpose to the organization’s mission is a great way for a nurse to become more involved in Nursing Informatics. Chart auditing is another excellent way to spear-head nursing’s involvement. “In Nursing Informatics, more emphasis is given on documentation because quality of care depends on effective communication among healthcare...
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...Strategic Planning OVERVIEW Brief description This toolkit provides a model for taking an organisation through a strategic planning process. It covers planning to do strategic planning, covering the background issues that need to inform or direct the strategic planning process, and then defining the strategic framework for the project or organisation activities. It is this strategic framework that gives the activities coherence and direction. We have included practical exercises to use during a strategic planning process. The toolkit expands on the short introduction to strategic planning in the toolkit on Overview of Planning. Why have a detailed toolkit on strategic planning? Strategic planning is the core of the work of an organisation. Without a strategic framework you don’t know where you are going or why you are going there. So, then, it doesn’t really matter how you get there! This toolkit offers you a way to do detailed strategic planning. You can replicate the method in any organisation or project that needs to do strategic planning. Another toolkit in the CIVICUS toolkits project deals with an Overview of Planning. That toolkit will help you see how strategic planning fits into the overall planning process. The toolkit on Action Planning will help you take the process further. The toolkit on Monitoring and Evaluation will help you to expand on the process of impact evaluation. You do strategic planning to help your project or organisation make a significant impact...
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...Basics of Strategic Planning The objectives of strategic planning including understanding the benefits of strategic planning; understanding the products of strategic planning; and learning the keys to successful planning and implementation. Many organizations spend most of their time reacting to unexpected changes instead of anticipating and preparing for them. This is called crisis management. Organizations caught off guard may spend a great deal of time and energy "playing catch up". They use up their energy coping with immediate problems with little energy left to anticipate and prepare for the next challenges. This vicious cycle locks many organizations into a reactive posture. It does not have to be that way. A sensible alternative is a well tested process called strategic planning which provides a viable alternative to crisis management. Strategic planning is a step by step process with definite objectives and end products that can be implemented and evaluated. Very simply, it is a process by which we look into the future, paint a picture of that future based on current trends, and influence the forces that will affect us. Strategic planning looks three to five years ahead. It charts a definite course based on strong indicators of what the business environment will be like in those years. Indicators include census demographic statistics, economic indicators, government policies, and technological advances. They reveal strong trends regarding changes in...
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...LEVELS OF CORPORATE PLANNING AND INNOVATION Name: Institution: Date: Executive Summary One student in an Executive MBA class based his response on introduction of a self scanner in checkout terminals in a British supermarket to an assignment that required them to link a significant innovation that an organisation had introduced with strategic change in the organisation. The student failed the assignment. This report will examine the reasons why the student failed by looking at the differences between strategic, tactical and operational planning. The report analyses what causes the strategic changes in an organisation and what qualifies as strategic change. The report also discusses innovation and the different levels of innovation. This report also discusses whether the student was right to classify self-scanner checkout terminals as a significant innovation that could be linked to strategic change in the organisation. Table of Contents Executive Summary 2 1 Introduction 4 1.1 Business Policy 4 1.2 Strategic Change 4 2 Strategic, Tactical and Operational Planning 5 2.1 Statement of the Objective 5 2.2 Differences between Strategic, Tactical and Operational Planning 5 3 Innovation 8 3.1 What is Innovation? 8 3.2 Impact of innovation on growth strategies 10 4 Conclusion 11 Introduction This report will identify reasons the student failed his assignment...
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