Question

Please answer the following question in 250 word count When formulating strategies, there are 5 categories of strategy formulation available to utilize: directional strategies, adaptive, market entry, competitive, and implementation strategies. To be effective, the strategies must be formulated in a specific order.

• Why is it so important to formulate strategies in this specific order?

Provide an example of each category of strategy formulation for discussion.

• Based on your perspective, is one type of strategy formulation more effective than another for an acute care hospital? Why or why not?

Answer 1

Strategy formulation make several actions and gives results and make communicate members within the organization.. formulation stretegy should be in specific order to prepare for new changes, and it provide firm plan for capital budgeting strategic plan should be in order for right decision making and to maintain the present status..in competitive markets it make critical evaluation for the best performance,to make estimation about probable future condition..to make best action considered by organization goals,strength, potential and limitations and external opportunities..

Directional stretegy:

In health care organization it provides frame work for operation and provide decision and activities..it operate reliable market and returns on investment..

Example: estimated medical imaging center or pathology lab..it reduces operational cost and capacity..

Adaptive:

Adaptive approach strategy make advantages in continuous experimentation and real time adjustments, long term analysis and planning..

Market entry:

In new market strategy method it help busy tech to better and stand with best fit for their organization..example : marketer faces concentration risk related to local competition and economic condition..

Competitive:

In competitive strategy it holds the market level in more customers and profits. A best brand can make advantages in competition, target, unique selling prepositions..

Example: Google, Facebook have its innovative,market position and size effects..

Implementation:

This strategy have its process to achieve its standards and goals..

Example: for organization development plan and it's action make the organization to achieve their goals..

In acute care hospital these strategy planning help the organization to come up with this goals in organization structure, implementation, market plan, competition, and adaptive for their future plans and benefts..