Engaging in Strategic Management in Healthcare Organizations

In this module you will need to come up with some strategic decisions. What you propose to strategically achieve has to be consistent with what an external and internal analyses, plus it needs to be consistent with the corporate strategy. To implement the business strategy, you need to do so through our functional strategies. You will discuss strategic alternatives, functional strategies, and going through the approval process to get our strategy approved.

Corporate strategy defines the company and allocates resources among the various SBUs. We started the course by discussing how corporate sets the vision and the goals for the SBUs. Now that we have an understanding of business strategy, we can discuss in more detail how corporate supports those plans. But corporate can also take on other approaches, such as acquiring companies, forming partnerships, or developing new business areas. In this module, we will consider the strategic alternatives that corporate strategies can take on.

Another decision for corporate strategists is to determine the level of diversification. Companies diversify in order to grow and hopefully achieve greater profitability.  By going after markets the organization is not currently in, the company is trying to develop new lines of business.  In this module we will discuss diversification as well as mergers and acquisitions.