Strategy Homework
Exercises:
1) How is strategy formulation related to situational analysis?
2) How might a retrenchment strategy and a penetration strategy be linked together? What are some other logical combinations of strategies? How may a combination of strategies be related to vision?
Professional Development:
1) Collect examples of mission, vision, and values statements from various health care organizations --- be sure to include those that are for-profit, not-for-profit, public and private. The Internet provides a useful tool for obtaining real-time examples to review and evaluate. Utilizing the criteria discussed in the textbook readings, determine the extent to which the actual statements apply the principles discussed. Identify the similarities and differences between "for profit" and "not-for-profit" examples. Compare and contrast statements obtained from public and private health care organizations.
2) Work through Exhibit 6-4 (p. 212), "Strategic Thinking Map - Hierarchy of Strategic Decisions and Alternatives," for an organization with which you are familiar. Practice selecting different alternatives under each strategy type.
Exhibit 6-4: Strategic Thinking Map - Hierarchy of Strategic Decisions and Alternatives
Directional Strategies
Adaptive Strategies
Market Entry Strategies
Competitive Strategies
Implementation Strategies
• Mission
• Vision
• Values
• Goals
Expansion of Scope
• Diversi?cation
• Vertical Integration
• Market Development
• Product Development
• Penetration
Contraction of Scope
• Divestiture
• Liquidation
• Harvesting
• Retrenchment
Maintenance of Scope
• Enhancement
• Status Quo
Purchase
• Acquisition
• Licensing
• Venture Capital Investment
Cooperation
• Merge
• Alliance
• Joint Venture
Development
• Internal Development
• Internal Venture
Strategic Posture
• Defender
• Prospector
• Analyzer
Positioning Marketwide
• Cost Leadership
• Differentiation Market Segment
• Focus/ Cost Leadership
• Focus/ Differentiation
Service Delivery
• Pre-service
• Point-of-service
• After-service
Support
• Culture
• Structure
• Strategic Resources
Unit Action Plans
• Objectives
• Actions
• Timelines
• Responsibilities
Ginter, P. M., Duncan, W. J., & Swayne, L. E. (2013). Strategic Management of Health Care Organizations (7th ed.). San Francisco: Jossey-Bass.
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.