Assignment: Exercises: How is strategy formulation related to situational analysis? How might a retrenchment strategy and a penetration strategy be linked together? What are some other logical combinations of strategies? How may a combination of strategies be related to vision? Professional Development: Collect examples of mission, vision, and values statements from various health care organizations be sure to include those that are for-profit, not-for-profit, public and private. The Internet provides a useful tool for obtaining real-time examples to review and evaluate. Utilizing the criteria discussed in the textbook readings, determine the extent to which the actual statements apply the principles discussed. Identify the similarities and differences between for profit and not-for-profit examples. Compare and contrast statements obtained from public and private health care organizations. Work through Exhibit 6-4 (p. 212), Strategic Thinking Map Hierarchy of Strategic Decisions and Alternatives, for an organization with which you are familiar. Practice selecting different alternatives under each strategy type. Exhibit 64: Strategic Thinking Map Hierarchy of Strategic Decisions and Alternatives Directional Strategies Adaptive Strategies Market Entry Strategies Competitive Strategies Implementation Strategies Mission Vision Values Goals Expansion of Scope Diversi?cation Vertical Integration Market Development Product Development Penetration Contraction of Scope Divestiture Liquidation Harvesting Retrenchment Maintenance of Scope Enhancement Status Quo Purchase Acquisition Licensing Venture Capital Investment Cooperation Merger Alliance Joint Venture Development Internal Development Internal Venture Strategic Posture Defender Prospector Analyzer Positioning Marketwide Cost Leadership Differentiation Market Segment Focus/ Cost Leadership Focus/ Differentiation Service Delivery Pre-service Point-of-service After-service Support Culture Structure Strategic Resources Unit Action Plans Objectives Actions Timelines Responsibilities Ginter, P. M., Duncan, W. J., & Swayne, L. E. (2013). Strategic Management of Health Care Organizations (7th ed.). San Francisco: Jossey-Bass.
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