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What and Why of Strategic Planning in the Healthcare Industry

Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue a particular course of action.

What is strategic planning and why is it an important tool in the health care industry?

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John F. Karr

Strategic planning involves the creation or reevaluation of the organizations vision; mission, values, and strategy. Strategic planning defines the organization's identity through the process of defining the organizations destiny and barriers that can affect that destiny (Barney, 2007). Strategic ...

Solution Summary

Strategic planning is a vital step in the process of creating a cohesive organization. This solution defines the necessary phases of strategic planning for an organization, and the solution contains in text citations and references.