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
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It includes all activities that are undertaken to help the manager understand the external and internal environment of the organization. Information should be collected on competitors, legal issues, and the internal issues that affect the overall performance of the organization. It is a very important process because the information collected will determine the strategy that can fit the organization. It is imperative to note that environmental scanning is a continuous process because of the need to change the strategies of the organization based on the prevailing …show more content…
The chosen strategy is enforced in the organization. The management must ensure that the there is a clear communication framework, flow of power, decision-making process, and efficient management of human resources. Failure to manage one factor efficiently can derail the entire organization. Therefore, every part of the strategy must be treated with caution. The implementation of a strategy is a hectic process that is preceded by sharing the selected strategy with all employees.
• Strategic Evaluation – It is the last part of strategic management. It involves the appraisal of the organization to determine the effectiveness of the implemented strategy. The goal is to identify areas that are exhibiting low performance and come up with ways to improve them. Also, it helps in developing new methods that enhance the effectiveness of the organization. Evaluation is a continuous process to ensure that the organization continues improving.
In conclusion, strategic management is the process of formulating, implementation and evaluation the strategies of an organization (Ginter, Duncan, & Swayne, 2013). It can help a healthcare organization to reduce losses, eliminate unnecessary tasks, define organization values and manage human resources efficiently. The result is a high performing institution that focuses on the satisfaction of
It includes all activities that are undertaken to help the manager understand the external and internal environment of the organization. Information should be collected on competitors, legal issues, and the internal issues that affect the overall performance of the organization. It is a very important process because the information collected will determine the strategy that can fit the organization. It is imperative to note that environmental scanning is a continuous process because of the need to change the strategies of the organization based on the prevailing …show more content…
The chosen strategy is enforced in the organization. The management must ensure that the there is a clear communication framework, flow of power, decision-making process, and efficient management of human resources. Failure to manage one factor efficiently can derail the entire organization. Therefore, every part of the strategy must be treated with caution. The implementation of a strategy is a hectic process that is preceded by sharing the selected strategy with all employees.
• Strategic Evaluation – It is the last part of strategic management. It involves the appraisal of the organization to determine the effectiveness of the implemented strategy. The goal is to identify areas that are exhibiting low performance and come up with ways to improve them. Also, it helps in developing new methods that enhance the effectiveness of the organization. Evaluation is a continuous process to ensure that the organization continues improving.
In conclusion, strategic management is the process of formulating, implementation and evaluation the strategies of an organization (Ginter, Duncan, & Swayne, 2013). It can help a healthcare organization to reduce losses, eliminate unnecessary tasks, define organization values and manage human resources efficiently. The result is a high performing institution that focuses on the satisfaction of