Is valuation process appropriate for healthcare organization

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Reference no: EM131673706

Problem

• From your viewpoint, what is the most appropriate way to evaluate this plan, and what time frame would you use for evaluation? Why?

• Is the valuation and control process appropriate for a healthcare organization that emphasizes creativity? Are control and creativity compatible? What is an example of a creative venture for the typical acute care hospital?

Perhaps the most important part of strategic planning is evaluation and redirecting efforts if needed. In the evaluation phase, an organization can determine what has been working, what is not working, and what might need minor adjustments to get the strategy back on track (Dessler, 2008). The timing for evaluation can be varied depending on what specific objective is being worked on. I recommend evaluation at least on a quarterly basis. This would allow individuals work on implementing change and allow for a maturation period to measure results.

Despite the best of intentions and the best-laid-out of plans, sometimes goals and objectives are not met for a variety of reasons (Dessler, 2008). If the desired results were not met during the quarterly evaluation or if market conditions changed it would allow the organization to redirect efforts or in some cases change the direction. The ability to modify or redirect is necessary, this is especially important because of the speed of which health care is changing.

The valuation and control process is necessary in any organization as it is necessary to ensure the organization is using its resources in the best manner possible. Without these controls in place either uncontrolled growth or unnecessary spending could occur. The organization I currently work for experienced this and it nearly closed due to not having controls in place to prevent it.

One example of a creative venture for a hospital could be working with a local hotel chain to understand customer relations and experience. By introducing some the best practices used in the hospitality industry could increase patient engagement and the environment increasing patient satisfaction.

Reference

Dessler, G. (2008). Human resource management (11th ed.). Upper Saddle River, NJ: Pearson Publishing.

Reference no: EM131673706

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