BHA FPX 4104 assessment 1 Strategic Planning and Leadership Name Capella university BHA-FPX4104 Strategic Leadership and Workforce Planning in Health Care
Definition of Strategic Planning Strategic planning encapsulates the process by which organizational leaders delineate their future vision while delineating their objectives and goals for the organization. It serves as a pivotal tool employed by organizations to attain their objectives, evade potential pitfalls, gain perspective on actions, and facilitate policy execution. Originating in the corporate realm during the 1960s, strategic planning has persisted as a cornerstone of strategic management. Strategic Planning Overview The quintessential constituents of strategic planning encompass: Formulating a strategic vision. Establishing objectives. Crafting strategies. Implementing devised strategies. Vigilantly monitoring, evaluating, and adjusting strategies. Theories of Strategic Leadership Mission: Leaders set forth a lucid mission for the organization. Plan: Leaders engage in planning endeavors encompassing analysis, brainstorming, and project management. Plot: Leaders inspire and motivate subordinates towards realizing the company’s objectives. Power: Leaders ascertain the distribution of power within the organization, leveraging frameworks such as Porter’s Five Forces model. Best Practices for Strategic Planning Inclusive participation of all staff. Long-term planning. Ensuring coherence among mission, vision, and values. Establishing a robust foundational framework. Goal setting. Comprehensive data analysis. Formalizing strategies. Methodical strategy implementation. Determining requisite actions for execution. Role of Leadership Leadership entails: Understanding and interpreting the operational environment. Formulating efficacious strategies. Executing strategies. Monitoring outcomes and effectuating strategic refinements. Cultivating organizational capabilities. Differences between Leadership & Strategic Leadership in Healthcare While leaders in the healthcare sector primarily focus on addressing immediate exigencies, strategic leaders proactively plan for the organization’s future, necessitating comprehensive organizational participation and alignment with the organization’s mission, vision, and values. Phases and Components of Strategic Planning Identifying focal points. Outlining procedural stages. Aligning goals with values, vision, and mission. Envisaging outcomes. Defining steps. Conducting SWOT analyses. Monitoring performance. Overview of Key Stakeholders Stakeholders in healthcare include healthcare providers, patients, their families, medical suppliers, vendors, and employees/staff. Strategy Alignment of Mission/Values at AdventHealth At AdventHealth, strategic planning is aligned with the organization’s mission, vision, values, and stakeholders’ interests. References AdventHealth. (2019, February 1). Becoming AdventHealth: Get the facts [Blog post]. Retrieved from https://www.adventhealth.com/blog/becoming-adventhealth-get-facts?listFilters=query%3Dvision%2Bstatement%26cat%3Dglobal AdventHealth. (2020). Who we are [Mission statement]. Retrieved from https://www.adventhealth.com/who-weare?listFilters=query%3Dmission%2Bstatement%26cat%Dglobal BHA FPX 4104 assessment 1 Strategic Planning and Leadership Chartered Global Management Accountant. (2013). Porter’s five forces of competitive position analysis. Retrieved from https://www.cgma.org/resources/tools/essential-tools/porters-fiveforces.html Fobare, L. (2019, April 3). 5 strategic planning best practices in hospital management. ESM Software. Retrieved from https://www.esmgrp.com/blog/5-strategic-planning-best-practices-in-hospital-management Ginter, P. M., Duncan, W. J., & Swayne, L. E. (2013). Strategic management of health care organizations (7th ed.). San Francisco, CA: Jossey-Bass. Healey, B. J., & Marchese, M. C. (2012). Foundations of health care management: Principles and methods. San Francisco, CA: Jossey-Bass Key elements of operational and strategic planning. (n.d.). Transcript. Retrieved from http://media.capella.edu/CourseMedia/PubH5116/TheoryApplication/Planning_ts.html Krach, K. (2016,