Healthcare strategic management can be defined as a continuous process that makes it possible for planning strategically to the evolvement and growth of the environment. The process is continuous and the planning very essential for the close monitoring of the required goals and healthcare objectives. Strategic management in the field of healthcare plays a bigger role by preparing nurses in their adaptation to the current environment of nursing. This paper seeks to expound more on healthcare strategic management by the help of questi9ons provided in the assignment.
To start with, there are three levels of strategy, namely, business level strategy, corporate strategy level and lastly function level strategy (Wheelen, 2010). Business level strategy is whereby strategies are made for the main purpose of converting the vision of the business into a reality, on the other hand functional level is a strategy used by business in order to make a realization of goals, by using available strengths in the organization. With the last level which is business level, which is at the top of the business, this is the level in which strategies for the whole business as a whole are formulated. There is a high potential for a disconnect from home office to individual organization because organizations require strategies which are very essential for its success.
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Traditional SWOT analysis and competitor analysis differ in a number of ways, first, SWOT, mainly puts an emphasis on the specific elements of the business while competitive analysis puts emphasis on the main factors that offer competition to the business (Brooks, 2014). While the two are vital for the measuring of business strengths and challenges of industries, SWOT can best be used when measuring the current position of a business while competitive analysis can be used when looking at available opportunities for the business (Negishi, 2014). To conclude, value chain entails a strategic system which sees businesses as a composition of subsystem with each system having an input into the business (Holweg, 2014). Value chain is essential for any business for it allows for the smooth running of activities in any organization.
References
Brooks, G., Heffner, A., & Henderson, D. (2014). A SWOT analysis of competitive knowledge from social media for a small start-up business. Review of Business Information Systems (RBIS) , 18 (1), 23-34.
Holweg, M., & Helo, P. (2014). Defining value chain architectures: Linking strategic. New Jersey: Prentice Hall.
Negishi, T. (2014). History of economic theory (Vol. 26). Elsevier value creation to operational supply chain design. International Journal of Production Economics , 147 , 230-238.
Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2010). Strategic management and business policy . New Jersey: Prentice Hall.
