Strategy Overview
Pearce and Robinson describe strategic management as the art of making complex, long-term, future-oriented decisions and taking actions that result in the formulation and implementation of plans designed to achieve a company's objectives. The process focuses on the belief that a firm's mission can be best be achieved through a systematic and comprehensive assessment of both its internal capabilities and its external environment (Pearce & Robinson, 2005). In the article Strategic Management, the strategic management process is described as the implementation of the company's strategy by executive management considering its resources, circumstances, and environment to position the organization to complete is mission in a
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AIM's mission is to reduce the cost of healthcare for payors in the public and private sectors by identifying, recovering, and preventing overpayments made to providers. To support this mission each division has created mission, vision and value statements to guide them. The mission statement for the Information Technology Division is as follows:
The Information Technology Department of AIM HealthCare Services, Inc. strives to provide superior information services to all supported associates and clients, delivering accurate and timely information in a professional and secure manner. We are committed to achieving competitive advantage and customer satisfaction through continual creative and effective application of current technology by collaboratively developing, maintaining and operating quality systems that meet the existing and anticipated information needs to all we serve (Employee Information, n.d., pg. 3).
McNamara (2005) criteria suggest in creating a mission statement, the company's markets, staff, and consumers must be considered. Likewise, a description setting it apart from other similar organizations is important. These criteria were adequate addressed in the AIM's current mission statement. However, improvement is needed to incorporate the values of customer, staff, and community. The public image of the company also
The top objectives for Kaiser Permanente is known as the “triple aim” which is healthier populations, affordable care, and creating ideal patient care experiences. The objective of preventative healthcare for all members is pushed throughout Kaiser Permanente through the thrive campaign. This aligns with the triple threat equaling healthier populations and affordable care. The healthier the population the lower the utilization of services equaling lower premiums and rates.
Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It involves the systematic identification of the firm 's objectives, nurturing policies and strategies to achieve these objectives, and acquiring and making available these resources to implement the policies and strategies to achieve the firm 's objectives. Strategic management, therefore, integrates the activities of the various functional sectors of a business, such as marketing, sales and production to achieve organisational goals. It is the highest level of managerial activity, usually
To improve the well-being of individuals through health education, counseling and detection screening programs. Over the next few weeks, our mission will consist of finding new solutions to better educate individuals in our society on the importance of health education, by improving care through technology, which ultimately better our society. Our organization will focus on fundraising, however, we focus on fundraising will be from a health perspective, to make sure we focus on individual health at all times. I will be responsible for the implantation of Better Health Care
To be the premier provider of state-of-the art health services in the greater central Ohio region. Our mission in the long-run is to be able to provide health care in the North West region of Ohio. Our intent is to focus on preventative care. However, as of today we are currently making coverage more affordable by reducing the cost of health care. Ultimately, our mission is to ensure everyone receives some type of support and for our company to focus on health through technology.
Since the mid 1990’s, a predominant concept of healthcare is the iron triangle of care, consisting of three competing issues: quality, access, and cost. (Carroll, 2012). William Kissick, who introduced the model, suggested that if you improve one or two of these issues areas, it comes at the expense of the third. If quality of care is increased, it comes at the expense of access or through increased cost. If access to care is improved, it is at the expense of quality or increased cost. If an institution is successful at cost containment while providing care, it is at the expense of quality and/ or access. (Kissick., 1994, p.13). Despite this deeply ingrained concept, the Agency for Healthcare Research and Quality (AHRQ) viewed the use of Health Information Technology (HIT) in the nation’s healthcare delivery as a resource to promote quality and access while potentially decreasing overall cost. (U.S. Department of Health & Human Services, 2003). (Page 175 of Delivering Healthcare in America) In efforts to promote the use of HIT, AHRQ provided five goals of implementation that would best impact the healthcare provided throughout the federal and private healthcare systems. These goals, when applied to the federal
"Strategic management is a set of managerial decisions and actions that determine the long-run performance of a corporation" (Wheelen & Hunger, 2006, p.3). The benefits of strategic management helps the firm focus on the objectives and develop the steps involved in obtaining the vision and financial wealth of the organization. An effective strategic management plan should include the following three questions: (1) Where is the organization now? (2) If no changes are
Apria Healthcare mission statement is is to be the first choice of patients and customers for their home care needs. And managing our business efficiently in order to deliver value and quality to our customers. The organizational goals is simply to always have sense of urgency, be accountable, and patient centricity. These goals was put in place to make sure patients orders are handled in a timely matter from start to finish. Nevertheless, holding every employee accountable throughout the organization of their job has helped maintain excellent customer feedback.
Strategic management is the process where leaders establish an organization’s long-term direction, set the specific performance objectives, develop strategies to achieve these objectives in the light of all external and internal changes, and undertake effective strategies to manage these changes and execute action plans.
Businesses usually abide by a mission statement to align goals and values establishing objectives toward creating the purpose of providing a service with the intent of promoting a quality product. My mission statement goes as follows...”Quality service and customer satisfaction are the driving force which Taste of Manila and its employees strive to achieve and will settle for
Managing a strategic plan is about setting the underpinning aims of an organization, choosing the most appropriate goals and fulfilling them overtime (Masood et al., 1995). Furthermore, managing a strategic plan can be defined as the art of formulating, implementing and evaluating cross-functional decisions that helps as organization to achieve their objectives (Analoui & Karami, 2003, p. 5).
Kaiser is able to respond to the challenges set forth because they continue to evaluate what changes need to be made and how to make them successfully. The strategic plan allows for an overview of where the facility is currently standing. This allows for any changes that are made internally or externally to be evaluated at the time of the change instead of after the change has been made and it is too late. The strategic plan helps to have a faster response time because there is already plan in place so it is easier to see where the changes are made and how to correct them without the facility suffering.
Therefore, strategic management is an all-encompassing approach for formulating, implementing and evaluating managerial decisions in a way that permits the business to reach its objectives.
The strategic management is actually defined as the process in which an organization actually formats and also implements the plans which espouse the objectives and goals of that organization (Diana Wicks, 2011). The process of the strategic management is continuous and it changes with the evolution of the organizational goals and objectives.
‘Strategic Management’ is a very complex term as many eminent researchers and scholars have had different views and conclusions on strategy. According to White (2004), “Strategic Management involves both systematically developing an idea together with its implications and testing the empirical validity & usefulness of that idea against the real world.” Thus strategy is not only about planning for future but also about confirming the validity of the hypothesis considered and implementing it successfully. Strategy formation may take various forms such as implicit, explicit or emergent. Implicit strategy is a strategy formed by intuitions of an individual. As per implicit strategists, strategic management is about reading the environment
Strategic planning clearly defines organisations’ objectives and assesses both the internal and external situation to formulate strategy, implement the strategy, evaluate the progress, and make adjustments as necessary to stay on track (Bradford et al, 2008). According to Robbins and Coulter (2005), the strategic management process model is given below: