Reference no: EM132010376

Question: Details:

Strategic planning within organizations provides a plethora of benefits to the organization, including meeting goals specified in the plan and contributing to the long-term success of an organization. Corporate-level strategy is informed through an organization's mission and vision statement. Portfolio management is driven by the mission, vision, and corporate-level strategy, and implemented at the Strategic Business Unit level. SBU-level strategies seek to develop resources and competencies. SBU's also have mission and vision statements to set the strategic direction of the entire unit. The strategic direction of the SBU is related to corporate-level strategy. The functional area may include the following, but possibly on a smaller scale: clinical operations (for example, within this area you could have radiology), marketing and promotion, human resources, information and clinical technologies, and finance department. Within the SBUs, these functional areas also have strategies.

Search for a strategic plan in a health care organization. After reviewing the strategic plan, select a business function or department within the selected health care organization to develop a business plan. The goal of the business plan is to help the organization implement the organizational mission and vision through setting a specific, measurable goal. Alignment between the organizational strategic plan and a business plan is key to successful implementation. The purpose of any department is to achieve the organizational mission and carry out various strategic initiatives that meet the mission and vision. In other words, the business plan intends to make the organization better in the specific direction the company wants to move in.

For this assignment, select either your own health care organization or one you know enough about to complete a business plan. The same health care organization will be used for the entire Business Plan assignment, including the following parts:

Create a business plan excluding title page, abstract, and appendices according to the instructions provided below for each part.

Part 1: SWOT Analysis

A SWOT analysis is part of strategy formulation that leads to goal setting and then progresses to the development of a business plan.

Using the SWOT analysis results, develop at least one strategic goal. Submit both the completed SWOT analysis document and the strategic goal. Be sure to cite two or three sources.

SWOT Analysis

Strengths

1. What are the recognized strengths of your identified area?

2. What does your identified area do better than other companies?

3. What unique capabilities or resources does you identified area possess?

4. What do other companies consider to be your strength?

Weaknesses

1. What are the recognized weaknesses of your identified area?

2. What do competitors do better than your identified area?

3. What areas can be improved at your current position?

4. What do other companies consider to be your weakness?

Opportunities

1. What trends or conditions impact the company in a positive way?

2. What opportunities exist for the identified area?

Threats

1. What trends or conditions impact the identified area in a negative way?

2. What is the competition doing that may have an impact on your identified area?

3. Does your identified area have solid financial support?

4. What impact does your weakness have on the threats your identified area faces?

Part 2: Action Plan

Address the following items:

1. Brief description of the project

2. History or rationale (including industry trend data as appropriate).

3. Market analysis (including competition).

4. Goals and outcomes (relationship to strategic focus).

5. Structure (including alliances, contractual relationships, etc.).

6. Financial data overview: Include a summary of what financial data you examined or would examine. For each financial statement, describe the specific factors that informed you (net revenue, profit loss, balance sheet major).

7. Personnel/Staffing (including provider relationships as appropriate).

8. Implementation schedule: Develop an implementation schedule that identifies the resources and competences in your department and describe how they are matched to the strategic initiative. Identify how your action plan aligns to the organization's strategic initiatives.

Part 3: Stakeholder Analysis and Communication Plan

Complete a stakeholder analysis to identify and prioritize the various stakeholders. Refer to the "Stakeholder Analysis - Winning Support for Your Projects," resource (located on the Mind Tools website) and complete all steps.

Include a communication plan for disseminating your action plan for all of the stakeholders. Which strategies do you plan to utilize and why? Your plan should demonstrate how you plan to use various types of communication channels to implement the plan. Explain how the communication plan addresses what you are hoping to achieve with your strategic goal.

APA format and Turnitin required.