Problem
Strategic plans are crucial for the survival of the healthcare organization. Gone are the days where simply operating a health facility meant easy profits. In today's highly competitive, resource scarce marketplace, healthcare managers must plan effectively in order to realize a return on investment.
a) What is a strategic financial plan and why is it important?
b) Differences and similarities between a strategic plan and a strategic financial plan.
c) Summarize the eight steps in the strategic financial planning process.