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What is strategy? |
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What is strategic management? |
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What are the characteristics of strategy? |
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How has strategos evolved? |
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Describe the strategic process. |
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What are the components of a business model? |
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What is the difference between mission and vision? |
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What is the hospital business model? |
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Explain the elements of evaluating and organizational environment. |
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Describe the Five Forces framework. |
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What is a SWOT analysis? |
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What is a value chain? |
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How is Strategos evolved |
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Deliberate action and non-linear thought necessary for establishing routines and processes. |
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Strategy seen as deliberate, purposeful behavior that allows a firm to plan decisions that maximize opportunities and minimize threats. |
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Strategy began to apply to business in the Industrial Revolution from executives from GM and Bell. |
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Medieval tactics began with an emphasis on defensive fortifications. |
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Sun Tzu – Art of War, Alexander the Great, Phillip II, Hannibal logged their experiences on the battlefield. |
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Now over 110k books on strategy available on Amazon |
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Planning of a military campagin |
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Strategic Management |
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Implementation |
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Strategy evaluation |
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Strategy formulation |
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Environmental scanning |
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Goal formulation |
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Strategic control |
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Involves the creation, implementation and over direction of an organization |
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Characteristics of strategy |
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Affects the welfare of the organization |
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Complex |
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Involves various thought processes |
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Exists on different levels |
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Is not purely deliberate |
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Involves issues of content and process |
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Concerns both organizations and the environment |
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Involves allocation of resources |
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Should be mission-based. |
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The strategic process |
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Gap analysis |
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Strategies and Strategic Objectives |
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Vision |
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Mission formulation |
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Organizational values |
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Corporate strategic plans |
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Planning to plan |
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Strategic Analysis |
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Operational Strategic Plan |
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Implementation |
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Components of a business model |
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Inputs: a combination of resources used to provide the product and/or service |
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Profitability: a financial mechanism to recover enough revenue to sustain the provision of the product and/or service |
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Processes: the sequence and method resources that are used to create/provide the product and/or service |
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Customer Value: a business model that meets the currently unmet needs of the customer. |
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Mission vs. Vision |
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A mission should be the foundation of strategic direction |
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A vision is a statement about what the organization wanst to become. |
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Evaluation of organizational environment |
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Key referral sources |
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Competition |
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Customers |
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External evaluation |
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Consumer perception |
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internal evaluation |
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Hospital business model |
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Revenue generation: pay per use and HMO premiums. |
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Processes: eliminate unnecessary and costly processes and streamline the patient experience. |
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Inputs: providers, nurses, therapists, pharmacists, supplies, drugs and support personnel. |
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Customer Value: Access to quality care at reasonable costs. |
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The Five Forces Framework |
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The bargaining power of buyers |
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The bargaining power of suppliers |
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The threat of substitutes |
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The threat of new entrants |
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The threat of rivalry |
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SWOT Analysis |
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Threats |
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Opportunities |
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Weaknesses |
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Strengths |
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Value Chain |
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Organizational capabilities: An organization’s skill in combining it’s resources to produce goods and services. |
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Delivery capacity: An organization’s ability to get the product and services to the customers |
You had a lot of information on your presentation! I thought it was great and highly detail oriented.
In addition, I appreciated you commenting on Anthony’s post about how to get the link from your published Thortspace sphere. I was getting very confused!
Great job!
Fantastic work!