BHA FPX 4104 assessment 1 Strategic Planning and Leadership BHA-FPX4104 Strategic Leadership and Workforce Planning in Health Care

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Definition of Strategic Planning

Strategic planning is the process through which organizational leaders define their future vision while establishing objectives and goals for the organization. It serves as a crucial tool that organizations use to achieve their objectives, avoid potential pitfalls, gain insight into actions, and facilitate policy implementation. Originating in the corporate sector during the 1960s, strategic planning has remained a fundamental aspect of strategic management.

Strategic Planning Overview

The essential components of strategic planning include:

• Formulating a strategic vision
• Establishing objectives
• Crafting strategies
• Implementing devised strategies
• Vigilantly monitoring, evaluating, and adjusting strategies

Theories of Strategic Leadership

• Mission: Leaders articulate a clear mission for the organization.
• Plan: Leaders engage in planning activities that involve analysis, brainstorming, and project management.
• Plot: Leaders inspire and motivate subordinates to achieve the organization’s objectives.
• Power: Leaders determine the distribution of power within the organization, utilizing frameworks such as Porter’s Five Forces model.

Best Practices for Strategic Planning

• Inclusive participation of all staff
• Long-term planning
• Ensuring coherence among mission, vision, and values
• Establishing a robust foundational framework
• Goal setting
• Comprehensive data analysis
• Formalizing strategies
• Methodical strategy implementation
• Determining requisite actions for execution

Role of Leadership

Leadership involves:

• Understanding and interpreting the operational environment
• Formulating effective strategies
• Executing strategies
• Monitoring outcomes and making strategic adjustments
• Cultivating organizational capabilities

Differences between Leadership & Strategic Leadership in Healthcare

While leaders in the healthcare sector primarily focus on addressing immediate needs, strategic leaders proactively plan for the organization’s future, requiring comprehensive participation and alignment with the organization’s mission, vision, and values.

Phases and Components of Strategic Planning

• Identifying focal points
• Outlining procedural stages
• Aligning goals with values, vision, and mission
• Envisioning outcomes
• Defining steps
• Conducting SWOT analyses
• Monitoring performance

Overview of Key Stakeholders

Stakeholders in healthcare include healthcare providers, patients, their families, medical suppliers, vendors, and employees/staff.

Strategy Alignment of Mission/Values at AdventHealth

At AdventHealth, strategic planning is aligned with the organization’s mission, vision, values, and the interests of stakeholders.

References

AdventHealth. (2019, February 1). Becoming AdventHealth: Get the facts [Blog post]. Retrieved from https://www.adventhealth.com/blog/becoming-adventhealth-get-facts?listFilters=query%3Dvision%2Bstatement%26cat%3Dglobal

AdventHealth. (2020). Who we are [Mission statement]. Retrieved from https://www.adventhealth.com/who-weare?listFilters=query%3Dmission%2Bstatement%26cat%3Dglobal

Chartered Global Management Accountant. (2013). Porter’s five forces of competitive position analysis. Retrieved from https://www.cgma.org/resources/tools/essential-tools/porters-five-forces.html

Fobare, L. (2019, April 3). 5 strategic planning best practices in hospital management. ESM Software. Retrieved from https://www.esmgrp.com/blog/5-strategic-planning-best-practices-in-hospital-management

Ginter, P. M., Duncan, W. J., & Swayne, L. E. (2013). Strategic management of health care organizations (7th ed.). San Francisco, CA: Jossey-Bass.

Healey, B. J., & Marchese, M. C. (2012). Foundations of health care management: Principles and methods. San Francisco, CA: