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Strategic/Financial Planning in healthcare organizations

In regards to a healthcare organization, what is your understanding of strategic planning and financial planning?

What if financial planning is not aligned with strategic planning? What are the consequences?

Solution Preview

In regards to a healthcare organization, what is your understanding of strategic planning and financial planning?

Strategic planning spells out the overall strategy, the critical success factors that support the strategy and the key initiatives that hopefully support the critical success factors as envisioned in the strategic plan. The strategic plan is a response to internal and external threats and opportunities and attempts to create ideas and programs that optimize the opportunities and minimize the threats.

Financial planning is the process of studying the resources needed to execute the ...

Solution Summary

Your response is 307 words and discusses the link between financial and strategic planning and the consequences of not aligning them. The differences are not unique to Healthcare but a few special issues are mentioned.

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