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.
