Strategic Thinking Sample Essay.
Strategic Thinking Part 4: Strategic Evaluation & Recommendation
STR581
University of Phoenix
May 18, 2020
Strategic Thinking Part 4: Strategic Evaluation & Recommendation
Any organization must be established under effective strategies that provide direction on realizing strategic actions within set timelines. Through a combination of various goals, organizations are expected to attain grand strategies that in this case include market development as well as the concentration of its growth in its new markets. Also, it is critical to ensure that core competencies are focused on customer satisfaction to ensure that every other strategy is realized.
Identify and Recommend the 3 most important long-term goals foryour organization.
Since its establishment, MedStar Health has continually recorded impressive growth levels which have seen it get to over 30,000 associates and 5,400 affiliated physicians. However, this does not signify that it has reached the epitome of its growth considering that there are internal as well as external factors that may affect its operations. It is from this premise that the three most important long-term goals comprise fostering collaboration with other health entities to leverage expertise and knowledge. Also, growing the size of the healthcare organization and lastly focusing on the maximization of its influence in the industry.
With the three long-term goals, it is expected that the healthcare organization will rise above any existing competition as well as to attain an edge over such competition (Suarez, Calvo-Mora, and Roldán, 2015). However, all the required resources must be availed if the three goals are to be effectively realized as well as sustained.
Identify and Recommend the one generic strategy/business-level strategy OR one valuediscipline that should serve as your organization’s overarching long-termstrategic approach to the market.
Generic strategies prove vital in the strategic direction of any entity because they charter paths for the realization of strategic actions within the set time. For MedStar Health, the generic strategy is identified as the growth of the clientele base. Additionally, it is vital to ensure that the strategy is attached to market development while concentrating growth in its new markets. In this case, it should be understood that it is only through effective marketing strategies that the organization will manage to increase its customer base.
For example, it is essential to liaise with the requisite entities in the health industry including research entities, authorities, as well as professionals among others in furthering its agenda.Nandakumar, Ghobadian, and O’Regan, (2010) demonstrate that it is though these approaches that operational excellence in improving internal operations and elimination of wastages that a business level strategy will prove practical. To effectively realize and edge, MedStar Health should focus on differentiation which is the only sure way to having an edge over competitors.
Identify and Recommend two or more grand strategies that areneeded to help drive your organization towards achieving yourproposed long-term goals (note grand strategies include the corporate-level strategiesdiscussed in chapter 6, and then go beyond these – see the “Choosing Grand Strategies”video here in week 4 for more details).
Grand strategies are not only intent on winning the battlefront but ensuring that sustained growth is realized despite existing competition and market challenges that preserves identity.It is through this that the entity should focus on the strategic objective which is striving to realize “MedStar treatment center hosts both the research and innovation center that provides medical and clinical services.” It follows that through this, the organization has a clear definition of its objectivethat should help it concentrate on the core business while gaining ground among its competition.
With aggressive customer targets in all health areas, MedStar Health is positioned to become a leader in healthcare and health research as well as related product development considering there are immense opportunities in this niche.As a result, the organization should efficiently expand its offering that does not exist or fall short as offered by its competition(Olson, Slater, and Hult, 2005).
Identify and assess what specific global strategy you would proposefor your organization going forward. If you do not recommend a globalstrategy, discuss your rationale.
Given that growth should not be restricted by national borders, any entity that aspires growth must develop an international strategy.Based on the years that MedStar Health has been in operation,its products and services should be seen to grow in line over time. Consequently, it should capitalize on its strengths to ensure that it develops and maintains a global brand recognized by its offerings. It is on the same footing that product differentiation should be enhanced at all costs.
A global strategy cannot be sustained without having a competitive advantage which is determined by organizational structure and strategic positioning. Therefore, global strategies will only be realistic where there is the integration of resources, focus, and coordination as well as shaping the same in the definition of the global objectives(Al Shobaki, Abu Amuna, and Abu-Naser, 2016). As a result, MedStar Health should strive to have innovative, creative as well as exciting solutions to remain relevant to the market needs.
Conclusion
Developing a strategy requires a lot of resources that should be invested rightly while realizing that no single strategy can work without integrating other competitive strategies. As illustrated, MedStar Health is effectively positioned to reap immense growth but this is dependent on the effectiveness of the strategies put in place. For example, a global strategy demands investment in resources, innovation as well as effective marketing strategies among others.
References
Al Shobaki, M. J., Abu Amuna, Y. M., & Abu-Naser, S. S. (2016). The impact of top
management support for strategic planning on crisis management: Case study on UNRWA-Gaza Strip. Retrieved from http://dstore.alazhar.edu.ps/xmlui/bitstream/handle/123456789/261/ALSTIO-3.1.pdf?sequence=1&isAllowed=y
Nandakumar, M. K., Ghobadian, A., & O’Regan, N. (2010). Business-level strategy and
performance: The moderating effects of environment and structure. Management Decision, 48(6), 907-939.
Olson, E. M., Slater, S. F., &Hult, G. T. M. (2005). The performance implications of fit among
business strategy, marketing organization structure, and strategic behavior. Journal of Marketing, 69(3), 49-65.
Suarez, E., Calvo-Mora, A., & Roldán, J. L. (2015). The role of strategic planning in excellence
management systems. European Journal of Operational Research, 248(2), 532-542.