Reference no: EM133811703

Homework: Nursing

Write a 2 to 3 pages executive summary that describes the importance of strategic planning, analyzes strategic core concepts for an organization, and describes the organization's next steps.

Introduction

Note: Each homework in this course builds upon the work you have completed in previous homeworks. Therefore, you must complete the homeworks in the order they are presented.

Health care organization leaders need to understand the external environment in which they operate. Additionally, they need to anticipate and respond to the significant shifts taking place within that environment. An organization engages in service area competitor analysis to:

1) Determine the geographic service area.
2) Analyze the competitors within that service area for strengths and vulnerabilities.
3) Assess the impact of its strategic actions against specific competitors.
4) Anticipate potential actions a competitor might make that would endanger the organization's market position.

Analyzing competitors assists organizations in identifying their competitive advantage, the basis on which they are willing to compete with anyone.

For the first homework, you will review the most recent Environmental Scan report from the American Hospital Association (AHA) and choose one of the factors identified in the report as the basis for your homework. You will also select a health care organization you will use for all the homeworks in the course. Using the factor you selected, you will examine the importance of strategic planning in general and the importance for your selected organization. Based on that, you will describe the next steps for the organization.

Reminder: Complete the homeworks in this course in the order they are presented. You will complete sections of a strategic management plan in each homework.

In this homework, you'll select a health care organization (either your current employer or the Nor'easter Medical Center Hospital Overview [PDF] example provided). You are highly encouraged to select your current employer on which to base your work, and if you choose this path, make sure the Learner and Employer Acknowledgement and Release Form from your workplace is completed.

See the Workplace Integrated Learning resource for more information about selecting the health care organization you will use for the homeworks in this course.

Professional Context

Health care organizations have embraced strategic management and developed unique processes for their industry. Health care leaders have found that strategic thinking, planning, and managing strategic momentum are essential for coping with the health care industry's dynamics. Strategic management has become the single clearest demonstration of effective leadership in health care organizations.

Today's health care organizations prepare themselves for the present and the future through strategic management. First, they must understand the importance of strategic planning and its key concepts and components. Health care leaders must determine if their organization's goals align with its mission, vision, and values and if the current strategic plan has been met.

Once strategic leaders are confident the mission, vision, and values are well formulated, understood, and communicated, they then focus on the activities that will make the most progress toward accomplishing the organization's mission and move it toward realizing its vision. These activities are called strategic goals. Finally, health care leaders will assess if there are any needed realignments and make recommendations for next steps.

This homework allows you to consider the importance of strategic planning and understand the core concepts involved.

Preparation

To begin, review the most recent Environmental Scan report from the American Hospital Association (AHA). AHA produces a new Environmental Scan report each year. Go to the web page found at Homework: AHA Guides/Reports to find the latest environmental scan. Scroll down on the page until you find the link to the Environmental Scan for the current year.

After you have read the report, choose one of the factors identified in the report as the basis of your homework. In the 2023 report, these factors include:

1) Financial Stability.
2) Workforce.
3) Health Equity.
4) Behavioral Health.
5) Better Care and Greater Value (affordability and access, quality and safety, value-based delivery, and payment models).
6) Rural Health.
7) Consumerism.
8) Social and Demographic Trends.

Using the factor you chose from the AHA Environmental Scan, and your chosen organization, you will describe the importance of strategic planning. Specifically, why it is important to you and why it is important to your organization. Next, you will describe the core concepts of the strategic plan and its next steps. This will include the vision, mission, objectives, strategy, approach, and tactics.

Asking yourself the following questions will prepare you to complete this homework.

I. Why is strategic management important?

II. How often should a strategic plan be developed?

III. What are the core concepts of a strategic management plan?

IV. What type of leadership style is best when creating a strategic management plan?

V. What environmental culture, climate, and design are best to achieve success?

VI. Are goals at the organization you selected currently in progress or met?

VII. Do current strategies at your selected organization provide value?

VIII. Do current strategies align with the organization's current mission, vision, and values?

IX. What directional pathways should the health care organization take to achieve their strategic objectives? What methods/tools would you use to further analyze the organization's strategies (e.g., SWOT, PESTEL, TOWS, et cetera)?
Instructions

Using the Executive Summary Homework Template [DOCX] provided, write a 2 to 3 pages executive summary. In the executive summary:

I. Describe the purpose of the executive summary, including a brief introduction to your chosen organization.

II. Describe strategic planning's importance to you, and its importance to the organization you selected.

III. Using the factor from the AHA's most recent Environmental Scan report that you selected, analyze the strategic core concepts.

1. Analyze the core concepts of a strategic plan in general.

2. Analyze what the strategic core concepts are for your organization.

IV. Consider the organization's next steps.

1. Evaluate the directional pathways the health care organization should take to achieve its strategic objectives.

2. Analyze the methods/tools you would use to further analyze the organization's strategies.