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Strategic planning assignment - strategy formulation

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Assignment: Strategic Planning

When formulating strategies, there are 5 categories of strategy formulation available to utilize: directional strategies, adaptive, market entry, competitive, and implementation strategies. To be effective, the strategies must be formulated in a specific order.

• Why is it so important to formulate strategies in this specific order?

• Provide an example of each category of strategy formulation for discussion.

• Based on your perspective, is one type of strategy formulation more effective than another for an acute care hospital? Why or why not?

Part of successfully implementing a strategic plan is involving everyone in the organization in the plan. You work as an admission coordinator for an assisted living facility that just enacted its 5-year strategic plan. However, no one has communicated any of the components of the plan to any departments, including yours. Instead, management has chosen to include only senior-level management.

• What do you think of this implementation approach?

• Do you think it will be an effective strategy? Why or why not?

• What would you do differently to ensure the successful implementation of the assisted living facility's strategic plan?

• Direct your comments specifically to an assisted living facility's characteristics and how a strategic plan might be implemented in such an organization.

Reference no: EM132377525

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