Discuss the following:
The business plan of a healthcare organization describes the purpose of the HCO and lends structure to its organizational goals. The strategic plan is used as a directional guide;how the organization will fulfill its purpose and put ideas into action. The strategic plan also prioritizes the organization’s resources as a means to fulfill the business plan. Simply put, the business plan is the “what,” and the strategic plan is the “how.”
Required article by Varkey and Bennett (2010). You may also want to review the recommended article by Williams (2008).
Answer the following questions:
Q1: What is the difference between a healthcare organization’s business and strategic plan? Be sure to include the purpose of each plan and how they relate to one another.
Q2: Why is it important for a healthcare organization to develop a strategic plan?