Strategic Management : Implementing The Strategy Of An Organization

771 Words Sep 14th, 2016 4 Pages
Strategic management describes the process of defining and implementing the strategy of an organization (Freeman, 2010). The idea is to select a number of strategies that can help an organization achieve its core objectives. For example, a local health care institution must consider the most appropriate and effective strategies to help attract and retain clients. Strategic management appraises competitors, sets goals for the present, and projects the future of the organization (Ginter, Duncan, & Swayne, 2013). Effective strategic management brings a sense of organization that allows all organizational stakeholders to play their roles in the achievement of the set goals. The paper outlines the steps that the local health care institution management must undertake to enjoy the benefits of strategic management. Strategic management comes with many benefits for a healthcare organization (Ginter, Duncan, & Swayne, 2013). It helps in defining the values of the organization and communicating them to all stakeholders. Strategic management pushes management to consider all areas of the organization to determine the areas that need to be improved. The ultimate goal of strategic management is to increase the performance of a health care institution by facilitating the development of plans on how to handle clients, manage finance, and manage human resources. It improves financial performance by eliminating unnecessary tasks and facilitate the formulation of measures to ensure all…

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