All organizations must set priorities to unite all their resources and energy. These priorities are important to meet organizational goals. Such strategic planning guides managers, employees and stakeholders to focus on their common aim. By using strategic management, an organization utilizes a methodical way so that all their resources combine with their mission to underwrite their future success. Changes incorporated into a common goal demand strategic management especially in health care organizations. “A well-crafted, duly executed strategic plan can provide numerous intangible, internal benefits for a health care organization’s culture, working environment and employees"(Reed, 2013). Today’s health care environment, with expectations of health care organizations constantly changing creates a compelling reason to employ strategic planning. To ensure success, the whole organization must be involved in strategic planning.
There are five essential components of strategic planning, and they are “engaging commitment, setting long term strategic objectives for improved performance of the organization, generating policy options. Evaluating and deciding on strategies and monitoring implementation of the policies against the long-term goals" ("Components of Strategic Planning", 2005). Practical implementation of each of these components requires organizational extensive corroboration and accountability.
The strategic management process enhances all of the essential elements of strategic planning. An organization’s strategy and goals embedded in the strategic management process enables management to make better decisions. Such decisions lead to a better performance throughout the organization. “The five stages of the process are goal-setting, analysis, strategy formation, strategy implementation and policy monitoring” (Clayton, 2015).
Goal setting makes the vision clear of any organization. It is necessary to establish both short-term and long-term goals. The...