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Strategic Planning

Terms in this set (12)

Chapter 9 end questions
to study for exam
p. 251-252
What leadership skills do you need
Box 9.1 on p. 240
Cons to doing a strategic plan
If any of the basic elements change you have to re-do strategic plan
How often do you do a strategic plan?
Used to be 10 years
5-10 years too much irrelevant
3 years- too much changes too fast
2-3 years
Pros for doing a strategic plan
Remain competitive
negotiate contract so you're in a better position
remain surviving as a business
small businesses merge
What's a SWOT analysis?
strengths, weaknesses, opportunities, threats
What Data do we need
customer needs changed?- customer survey
have my strategic partners changed?
Has my competition changed?
Has my technology changed?
Has the reimbursement or business environment changed?
Has my financial situation changed?
measure along the way
when you're going to look back to see if were hitting out targets towards goal
Action/Plan
detailed, down at individual level
everyone at specific department knows what they have to do to achieve goal
Smart goal
Specific
Measurable
Achievable-realistic?
Relevant- is it measuring what we want to do
Time- have it done by this date
SWOT analysis
Strengths
Weaknesses
Outside/opportunities
Threats
Basic elements
Review and/or update Vision/mission/core values
Review available data
Form a SWOT analysis
Determine long term goals and yearly objectives (SMART goals!)
Create/implement action plans
(measure key indicators along the way)
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