How is strategy formulation related to situational analysis?
How might a retrenchment strategy and a penetration strategy be linked together? What are some other logical combinations of strategies? How may a combination of strategies be related to vision?
Collect examples of mission, vision, and values statements from various health care organizations — be sure to include those that are for-profit, not-for-profit, public and private. The Internet provides a useful tool for obtaining real-time examples to review and evaluate. Utilizing the criteria discussed in the textbook readings, determine the extent to which the actual statements apply the principles discussed. Identify the similarities and differences between “for profit” and “not-for-profit” examples. Compare and contrast statements obtained from public and private health care organizations.
Work through Exhibit 6-4 (p. 212), “Strategic Thinking Map – Hierarchy of Strategic Decisions and Alternatives,” for an organization with which you are familiar. Practice selecting different alternatives under each strategy type.
Exhibit 6–4: Strategic Thinking Map – Hierarchy of Strategic Decisions and Alternatives
Market Entry Strategies
Expansion of Scope • Diversiﬁcation • Vertical Integration • Market Development • Product Development • Penetration