How has strategos evolved?
It began to signify the planning of military campaigns and purposes. Strategy and organizational structure were taken into account. Strategy changed along with the emerging of more advanced weaponry. It is deliberate and allows for guidance towards the goal wanting to be achieved.
What is strategic management?
The strategy externally and internally that an organization takes when
What is strategy?
- how an org operates to compete with other markets
- plan for future action
- tracing patterns
- idea is to make the best decisions
- opens doors to new opportunities
What are characteristics of strategy?
- Concerns both orgs and the environment
- Is complex
- Affects welfare of the org
- Involves issues of content and process
- Is not purely deliberate
- Exists on different levels
- Involves various thought processes
- Involves various thought processes
- Should be mission based
Describe the strategic process.
Set up a system for review and feedback. There should be the right people able to adequately contribute to the process. There should be clarity in the goals and in the stakeholders the process affects. Values and purpose should be defined.
There is no such thing as “one-size-fits-all” when it comes to strategic process. It is system and organization-specific.
What is the difference between mission and vision?
| Mission | Vision |
| FOUNDATION of the direction aimed to go in | Statement of DIRECTION org wants to go towards |
| to be followed through with; prove it | challenges and stretches org’s image |
| reason for org’s existence | 5-10 year envisioning future state desired |
| characteristics: measurable, definable, actionable content | Provides motivation for goals and planning |
| distinctive essence of org |
What are the components of a business model?
- customer value: proposition to better meets customer’s needs
- inputs- combo of resources used to provide product or service
- Processes: sequence, method resources combine to deliver
- Profitability: financial mechanism to recover revenue to sustain provision
What is the hospital business model?
Customer Value– patients gained value by having access to quality care at reasonable costs
Inputs– vary by the type of hospital but are represented by the energy and resources invested such as healthcare personnel, whatever equipment and medication is supplied. Today with technology, it also includes the equipment that allows for less manpower.
Processes- ways developed to help the hospital function more smoothly or efficiently
Revenue generation- paid on “per use basis” payors are who expense largest amount to hospitals aside from government coverage.
Explain the elements of evaluating an organizational environment
Internal environment
external evaluation
- customers: how they are distinguished
- competition: understanding it
Market Structure: nature of competition
Describe the Five forces framework.
*Meant to understand competitive forces in industries.
- threat of new entrants
- threat of substitutes
- bargaining power of suppliers
- bargaining power of buyers
- threat of rivalry
What is a SWOT Analysis?
It is a way of analyzing org’s competitiveness. We recently tried this analysis for the education-based nonprofit I work for, and we learned that strength and opportunity, as well as weaknesses and threats have room for overlap and lead the way to great discussion on where we want to be and go!
strengths
weaknesses
threats
https://thort.space/472227003/invite_code/EOJYZSSPvdEL8fF5uakZbm
Fantastic work! However, I can’t get the link to work for Thortspace. Can you send me an e-mail with a working link?
Hi Dr. Jamie!
I am trying to share the thortspace work I did with you using the email: jrschwandt@fhsu.edu. I believe it sent you the invitation.