Download Strategic Plan Part III Financial Planning

Pearce, John A. , & Robinson, Richard B. . (2009). Strategic management. formulation, implementation, and control. United States: McGraw-Hill.

G.G. Dess, G.T. Lumpkin, M.L. Taylor, A.A. Thompson, and A.J. Strickland III, Strategic Management (Boston, McGraw Hill, 2004) pp. 141-148.

Summarize It! is a new company in the works which will summarize deposition transcripts for attorneys. To help ensure the success of the company, a strategic plan has been developed. In doing so, it is essential to incorporate an implementation plan. The implementation plan will outline steps such as identifying objectives, functional tactics, action items, milestones and deadlines, tasks and task ownership, and resource allocation. In addition, it is important to identify any areas in which organizational change management strategies can be put into place, as well as key success factors. A budget, forecasted financials, and

By creating a budget this facility will be better prepared in knowing how much money they spend and

Effective financial management is the basis of thriving health care organizations. Organizations must make good investment decisions based on objective analysis (Healthcare Financial Management Association [HFMA], 2005). Integration of financial management principles provides decision makers with guidance to make capital decisions maximize mission-based benefits at effective costs (HFMA, 2005). An operating budget is the statement of profit and loss for the entire organization. Various health care entities prepare operating budget for the following year for discussion and approval by top management (Academic Writing Tips, 2011). At the end of the year, departmental managers provide an account for the previous year’s

Banner Health is a nonprofit health care system that was started on September 1, 1991 after the merger of Samaritan Health System and Lutheran Health Systems. Before the merger Lutheran Health System had a long standing history as a respected health care provider in rural communities located across Western and Midwestern states dating as far back as 1938 while Samaritan Health System was formed in 1911 and had a reputation for clinical excellence in California and Arizona primarily in the metro Phoenix area. The headquarters of Banner Health are located in Phoenix

Pearce, J. A., II, Robinson, R. B. (2011). Strategic management: Formulation, implementation, and control (12th ed.). Boston, MA: McGraw-Hill/Irwin

Banner health is based in Phoenix Arizona and is a non-profit organization that are dedicated to make a difference in the lives of the society through quality patient care. They are the largest health care system in the U.S, and have more than 39,000 employees, 25 hospitals and a growing network of health centres and clinics. The focus of the Banner healthcare is to create the best for the community. Banner healthcare is the leading non-profit healthcare organization that focus on providing health benefit and coverage services to the patient (Bannerhealth.com). They are the largest healthcare service provider in US that strives to create and committed in providing excellent patient care. They are the national leader in innovation to strengthen patient care. Banner health focus on continuous improvement of patient outcomes and service. They ensures that patients get excellence and affordable healthcare services through the current technology. The main goal of Banner healthcare system is to provide quality healthcare services and ensure that patients get quality services. The Banner health mission was to make a difference in the lives of people through excellence patient care. They exists to provide quality health care to the communities, rather than making profits. The services this organization provides includes Bariatric surgery, women health, Transplant services, Hospice Radiology for adults and children, Emergency care, Maternity, Physical therapy, and many more

"Banner Health is considered one of the nations ' largest secular, non-profit health care organization operating 29 acute care facilities in seven western states" (Kash, 2016). It is known and recognized nationally. It unites with the Lutheran Health System and Samaritan Health System, which started in 1991 with the mission of making differences in people 's lives such as rendering perfect patient care. This excellent mission of health care earned them good standing that help the "organization to develop and manage 29 acute care facilities in seven states with the magnitude of about 4,000 beds" (BANNER HEALTH, 2016). These States of networking health care of Banner in America are Arizona, Colorado, Wyoming, Nebraska,

Baye, M.R., Prince, J.T. (2014). Managerial Economics and Business Strategy. New York, NY: McGraw-Hill Irwin

Hubbard, G, Rice, J and Beamish, P 2008, Strategic Management, Pearson Education Australia, 3rd, Frenchs Forest, Australia.

Hitt, M., Ireland, R., Hoskisson, R. (2013) Strategic Management: Competitiveness & Globalisation, 10th edition, Cengage Learning

Ashkenas, Ron. “Four Tips for Better Strategic Planning.” Harvard Business Review: Decision Making, 1 Oct. 2013. Web. 17 Nov. 2014.

Financial Planning Financial planning is an appraisal of those financial aspects that may or are likely too occur in future but need immediate decision making. It involves setting financial objectives in terms of profits, sales or acquistion of assets along with financial foorecasting for the organisation. This includes estimation in the areas of: Ø

Per John M. Bryson, strategic planning, if properly conducted, can help the leaders and managers of public and non-profit organizations think, learn and act tactically. Strategic planning enables organizational leaders and managers to first identify their organization’s mission and/or purpose. Thereafter, the planning process permits these leaders to pinpoint the actions and activities that will enable the organization to achieve its mission. Finally, the planning process requires the organizational leaders to synthesize objectives and activities into a blueprint or concrete plan of action under which the organization will conduct its business.