When formulating strategies, there are 5 categories of strategy formulation available to utilize: directional strategies, adaptive, market entry, competitive, and implementation strategies. To be effective, the strategies must be formulated in a specific order.
Why is it so important to formulate strategies in this specific order?
Provide an example of each category of strategy formulation for discussion.
Based on your perspective, is one type of strategy formulation more effective than another for an acute care hospital? Why or why not?
Part of successfully implementing a strategic plan is involving everyone in the organization in the plan. You work as an admission coordinator for an assisted living facility that just enacted its 5-year strategic plan. However, no one has communicated any of the components of the plan to any departments, including yours. Instead, management has chosen to include only senior-level management.
What do you think of this implementation approach?
Do you think it will be an effective strategy? Why or why not?
What would you do differently to ensure the successful implementation of the assisted living facility’s strategic plan?
Direct your comments specifically to an assisted living facility’s characteristics and how a strategic plan might be implemented in such an organization.