The organization’s strategic foundation is built on its mission, vision, purpose, and values. They direct and steer the goal, principles, and values that drive the organization’s actions and convey this purpose internally and publicly (Law & Breznik, 2018). The organization’s mission is to enhance both individual health and the general state of the population’s health to enable people to make healthier choices. The vision is to create a society where people are concerned about promoting their health and preventing risk factors based on scientific evidence.
The main objective is to empower and increase awareness among almost half of the population within the next two years. The organization is based on several fundamental values that ensure employees work towards a purpose. They include the right to health as a basic human right, health as everyone’s concern, and knowing the determinants of health as a precondition for its improvements. The vision, purpose, and values are critical in designing a corporate strategy. They serve as a framework for developing and evaluating strategic choices (Law & Breznik, 2018). They give an organizational identity as well as a grasp of company goals.
Employees, departments, and work units have been collaborating to deliver clear, evidence-based information on current public health issues and priorities. Furthermore, via different forms of communication with the public, they have been promoting awareness and educating the populace on health promotion and prevention of risk factors. Finally, they have been creating and implementing initiatives that provide effective solutions that have the potential to be incorporated into the health system.
Positive and Negative Aspects of Abandoning Traditional Healthcare Strategic Planning Processes
One advantage of abandoning traditional strategic planning methods in healthcare is that it can lead to more efficient and effective decision-making. This is because a modern approach may include various elements, such as technological changes, demography, and the economy. Furthermore, a current strategy might be more adaptable and receptive to changes, allowing firms to respond rapidly to new issues. One disadvantage of forsaking traditional strategic planning methods in healthcare is that it might result in less stability and predictability since it is frequently more dynamic and might result in more frequent adjustments. Furthermore, the strategy might be more complicated, making it more difficult for enterprises to comprehend and plan.
Traditional strategic planning approaches in healthcare have been used for a long time and have proved effective. However, several disadvantages to this strategy have emerged in recent years. One significant disadvantage is that traditional strategic planning may be time-consuming and costly. This is because it typically entails engaging consultants to perform extensive market research and then building specific strategies based on the findings. Additionally, traditional strategic planning may be rigid and sluggish to adapt to market shifts in the healthcare industry. This is so since the plans frequently depend on lengthy estimates that might not account for sudden changes. A typical strategic plan, for instance, would not be able to swiftly adjust to new competitors joining the market or changes in governmental rules.
In recent years, a new approach to healthcare strategic planning known as lean planning has arisen that tries to solve some of these shortcomings. Lean planning is a more flexible approach and an agile strategy that saves time and money. It is built on the notion of continuous improvement and depends on feedback loops to make continuous improvements to the plan.
One advantage of lean planning is that it requires fewer resources than typical strategic planning as it does not need the same amount of market research or the preparation of specific strategies. As a result, it may be deployed significantly more rapidly and inexpensively. Lean planning is also more sensitive to changes in the healthcare sector. This is because feedback loops are used to continually monitor and change the plan making it much easier to adjust to market changes or new possibilities. There are also some drawbacks to lean planning. One is that it might be challenging to evaluate and change the strategy on an ongoing basis. Traditional and modern methods of healthcare strategic planning have both merits and downsides. The optimum method for a company will be determined by its unique demands and resources.
The Influence of Complexity On Budget Strategies and Their Implementation
Budget methods and their execution can be influenced by complexity in various ways. First, complexity can make developing an accurate and complete budget more challenging. This is due to the increased number of variables to evaluate and the increased possibility of inaccuracy. Furthermore, complexity might make budget implementation more challenging due to more moving pieces and the potential for difficulties (Campos & Reich, 2019). Finally, complexity can make budget monitoring and adjustment more difficult since there are more variables to track and greater opportunities for unanticipated occurrences. For example, if there is a lot of variance in how care is given, it may be difficult to control expenses.
External and Internal Environmental Analyses
It is critical to assess both external and internal environmental elements to offer the best possible treatment for patients. External environmental factors include society’s prevailing social, political, economic, and cultural circumstances. Internal environmental factors are those unique to a particular healthcare institution or location. The external environmental analysis process includes understanding the stakeholders’ goals and objectives (Chang et al., 2019). It also entails investigating current laws and policies relevant to healthcare surroundings and facilities.
Internal environmental evaluations entail assessing the physical area in which care is delivered. This includes evaluating its layout and design as well as establishing if it satisfies current safety requirements for patients with disabilities (Pourmohammadi et al., 2020). It also entails examining how employees interact with one another, such as whether they have access to critical resources such as drugs or whether they have clear roles within the organization.
External and internal environmental assessments are critical components of healthcare strategic planning. External opportunities and hazards from external environmental analyses include changes in the healthcare industry and new technologies. Internal environmental assessments help uncover the organization’s strengths and weaknesses, such as inefficiencies in care delivery (Chang et al., 2019). Several problems may arise if these stages in healthcare strategic planning are omitted or not performed effectively. One potential is that the organization will fail to capitalize on market opportunities or be caught off guard by threats.
Nurse Managers and The Financial Goals of the Organization
Nurse managers can use a variety of approaches to ensure that they are making the best decisions for the organization’s financial goals. First and foremost, nurse managers should thoroughly understand the organization’s financial situation and goals (Leger & Dunham-Taylor, 2018). As a consequence, they will be able to make decisions that are compatible with the broader plan of the firm. Furthermore, nurse managers can build relationships with other members of the organization’s leadership team, allowing them to collaborate on financial choices (Leger & Dunham-Taylor, 2018). Finally, nurse managers may create a system for tracking and analyzing the economic effect of their actions, allowing them to make necessary modifications.
Campos, P. A., & Reich, M. R. (2019). Political analysis for health policy implementation. Health Systems & Reform, 5(3), 224-235.
Chang, L., Lu, H. J., Lansford, J. E., Bornstein, M. H., Steinberg, L., Chen, B. B.,… & Yotanyamaneewong, S. (2019). External environment and internal state in relation to life-history behaviour of adolescents in nine countries. Proceedings of the Royal Society B, 286(1917), 20192097.
Law, K. M., & Breznik, K. (2018). What do airline mission statements reveal about value and strategy? Journal of Air Transport Management, 70, 36-44.
Leger, J.M., & Dunham-Taylor, J. (2018). Financial management for nurse managers: Merging the heart with the dollar (4th ed.). Burlington, MA: Jones & Bartlett Learning, LLC.
Pourmohammadi, K., Bastani, P., Shojaei, P., Hatam, N., & Salehi, A. (2020). A comprehensive environmental scanning and strategic analysis of Iranian Public Hospitals: a prospective approach. BMC Research Notes, 13(1), 1-7.