Strategic planning

Please respond to the following discussion posts.

GOALS AND OBJECTIVES

Posted by SIERRA L June 14th

A goal is a brief, clear statement of an outcome to be reached within a timeframe such as 3-5 years. A goal is a broad, general, tangible, and descriptive statement. It does not say how to do something, but rather what the results will look like. It is measurable both in terms of quality and quantity. It is time based. It is achievable. It is a stretch from where we are now. Goals can be described or defined as outcome statements that define what an organization is trying to accomplish both programmatically and organizationally. In comparison, an objective is a specific, measurable, actionable, realistic, and time-bound condition that must be attained in order to accomplish a particular goal. Objectives define the actions must be taken within a year to reach the strategic goals. A goal is where you want to be and objectives are the steps taken to reach the goal (Feliciano, 2012). It is important throughout the strategic planning process, as well as the operation of an organization to realize the differences between goals and objectives and yet also understand how they interlink with one another and the importance to help in achieving the success of an organization.

Reference:

Feliciano, D. (2012, July 30). Do you know the difference between a goal and an objective? Retrieved from https://www.fastcompany.com/776233/do-you-know-dif…

Posted by Mindy B June 13th

There are goals and there are objectives and there are people that cross these two words every day. These two things are also very different in the world of strategic planning as well. Goals are what you want to happen, they are the desired outcome of quality work (Belicove, 2013). An objective is a tangible, trackable and measurable method that an organization will take to help get to the end goal (Belicove, 2013). The strategy is the path that the organization decides to take with the objectives to reach the goals (Belicove, 2013). Strategic planning is an ongoing process that should assist an organization to continue to grow and develop into the future. Having the ability to change and adapt future goals and objectives keeps an organization in tune with modern demands (Belicove, 2013). In my opinion, in strategic planning it is important that the stakeholders are aware of the differences between goals and objectives, have the ability to see the vision that they helped create, make goals that are achievable based off the organizations vision, create objectives that will assist in reaching those goals and put forth a successful strategy plan to accomplish those objectives. Without excellent vision and planning the objectives will not be reached, the goals will not be obtained, and the organization will no longer be around.

References:

Belicove, M. (2013). Understanding goals, strategy, objectives and tactics in the age of social. Retrieved from https://www.forbes.com/sites/mikalbelicove/2013/09/27/understanding-goals-strategies-objectives-and-tactics-in-the-age-of-social/#1b2c3cc24c79

Broad Involvement of Internal Constituents

Posted by Laketta D June 13th

One of the core components of the strategy formulation phase is choosing the right constituents in the planning process. Involving the appropriate people in various departments help to provide inner connectivity as it relates to proposed changes within the organization. Since most HCO’s are larger corporations, the employees chosen should represent the areas in which the major impact of changes will occur and subsequent departments. Making sure to include impacted areas allows for direct input from those who are most familiar with that section of the business which provides an additional layer of what the and how the proposed changes will affect that department. In addition to including representatives from various departments, it is important to manage the skillset of those involved. Participants should be informed, willing to engage in the process including bringing forth new ideas and solutions to current issues (Cwiek, Davis, Dubow, & Stuecher, 2018). The increased variation of knowledgeable employees provides insight on other problems that may arise during the implementation phase. This network of people should be chosen in such a way that it reflects the diversity within the organization and gives representation to the fact that the contributions made at every level matter. When this part of the formulation phase is done correctly, it should help make the implementation process seamless since the groundwork has been laid with consideration for the HCO as a whole organization.

References

Cwiek, K., Davis, C., Dubow, M. & Stuecher, S., (2018) Healthcare strategic planning (4^th ed.) Health Administration Press. Chicago, IL

Posted by Yesenia W June 13th

Strategy formulation refers to the process of choosing the most appropriate course of action for the realization of organizational goals and objectives and thereby achieving the organizational vision (Harris, 2018). A strategic plan, when communicated to all members of an organization, provides employees with a clear vision of what the purposes and objectives of the firm are (Harris, 2018). There must be a commitment from the highest office in the organizational hierarchy. Without buy-in from the highest level of management, it is unlikely that other members will be supportive in the planning and eventual implementation process, thereby dooming the plan before it ever takes shape. Commitment and support of the strategic-planning initiative must spread from the president and/or CEO all the way down through the ranks to all non-management employees. The strategic-planning team should be composed of top-level managers who can represent the interests, concerns, and opinions of all members of the organization (Harris, 2018). Strategy formulation should be done on a regular basis, as often as required by changes in the industry. Firms need to track the company’s progress, or lack thereof, on the key goals and objectives outlined in the strategic plan. The company must be objective and flexible enough to realize whether the strategy is no longer appropriate as it was first conceived, and whether it needs revision or replacement.

References:

Harris, J. M. (2018).

Healthcare strategic planning. Chicago, IL: Health Administration Press.

HealthCare Finance

Posted by Kristin N

My experience in import logistics and cargo warehousing has exposed me to many examples of ratios. Just as the medical providers are concerned with their payer ratio mix and how long it takes to collect their receivables, importers are concerned with how much cargo space needs to reserved and paid for in an ocean container when the shipment does not require a full container from an ocean port or how much space will be required on a cargo aircraft from the origin airport. In other words, you would need to calculate the volume, or space, the shipment would take. Air shipments vs. ocean freight shipments have different ratios to arrive at the volume, even though both types of shipments start with the need to know how many kilograms are in one cubic meter, since freight rates are stated by the rate per kilogram (Weight/Volume Ratio, n/d).

Air freight: 1 m³ = 167 kg

Ocean freight: 1 m³ = 1,000 kg

When the cargo arrives, it must be transported to a local warehouse. The warehouse will want to inform the importer how much warehouse space they have available. So, if their warehouse has 30,000 square feet (s/f) of warehouse space and the warehouse is two story, or 26’ in height, the warehouse would say they have 7,800,000 total square foot of storage capacity (Smith, 2016). However, their warehouse is already storing 895,000 s/f of products. For them to know how much space is remaining, they must divide 895,000 by their warehouse capacity of 7,800,000 = 11.47% of utilization. This means that the warehouse has space for your incoming cargo.

References:

Smith, N. (2016). Measuring the Utilization of Your Warehouse Space. Retrieved from: https://www.austintenantadvisors.com/blog/measuring-utilization-warehouse-space/

Weight/Volume Ratio. (n.d.) Retrieved June 13, 2019 from Röhlig Logistics, https://www.rohlig.com/infocenter/air-freight/weightvolume-ratio.html

 

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