Strategic planning within organizations provides a plethora of benefits to the organization, including meeting goals specified in the plan and contributing to the long-term success of an organization. Corporate-level strategy is informed through an organization’s mission and vision statement.
Portfolio management is driven by the mission, vision, and corporate-level strategy, and implemented at the Strategic Business Unit level. SBU-level strategies seek to develop resources and competencies. SBU’s also have mission and vision statements to set the strategic direction of the entire unit. The strategic direction of the SBU is related to corporate-level strategy. The functional area may include the following, but possibly on a smaller scale: clinical operations (for example, within this area you could have radiology), marketing and promotion, human resources, information and clinical technologies, and finance department. Within the SBUs, these functional areas also have strategies.
Search for a strategic plan in a health care organization. After reviewing the strategic plan, select a business function or department within the selected health care organization to develop a business plan. The goal of the business plan is to help the organization implement the organizational mission and vision through setting a specific, measurable goal. Alignment between the organizational strategic plan and a business plan is key to successful implementation. The purpose of any department is to achieve the organizational mission and carry out various strategic initiatives that meet the mission and vision. In other words, the business plan intends to make the organization better in the specific direction the company wants to move in.
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