Complete the Week Two Market Analysis for Phoenix Hospital section of the Strategic Plan Template. Cite at least 1 peer-reviewe

HCS/498 v2

Strategic Plan Template

HCS/498 v2

Page 4 of 14

Strategic Plan Template

This course will feature a cumulative assignment starting in Week 1 and concluding in Week 5. You will complete this assignment each week using the Strategic Plan Template provided. This document will be used in conjunction with the Phoenix Hospital 5-Year Strategic Plan Scenario. It is important that you read the scenario in its entirety prior to completing the Week 1 assignment. Make sure to refer back the scenario each week as instructed for these cumulative assignments. You will record all responses to the appropriate assignments in this document. Your faculty member will also provide feedback directly through this document. This document will break down the basic steps used in strategic planning to make a strategic decision in health care. While this scenario is specifically geared toward a hospital setting, the knowledge and skills you will possess at the end of this course can be applied to any health care facility (e.g., physician’s office, long-term care, etc.).

Week 1: Mission and Vision for Phoenix Hospital

In this first assignment, you will create a mission and vision statement for Phoenix Hospital. It is important to read the Phoenix Hospital 5-Year Strategic Plan Scenario prior to completing this assignment. It is also recommended that you complete the other Week 1 assignment, “Importance of Mission and Vision Statements,” first because it provides foundational knowledge necessary for completing this assignment.

Create a mission and vision statement for Phoenix Hospital. Remember that your mission and vision statements should be a strong representation of the following:

· Organization

· Organization’s goals

· Stakeholders that the organization impacts

· Values of the organization

The mission for Phoenix Hospital	Vision for Phoenix Hospital
We endeavor to create a safe environment by focusing on precautions, safety, and the well-being of our patients through integrated clinical practice, education, and research.	Our vision is to be the unrivaled leader in improving health care quality and lowering costs for patients in the communities we serve.

The statement of mission, vision, and values ​​allows hospitals and healthcare organizations to determine what they want to achieve and provide the right level of care for their patients. Mission and vision statements serve different purposes, but they are used interchangeably. The mission statement defines the purpose of today's enterprise. It begins with phrases such as "we are," "we serve," and "our purpose is …". Most business vision statements, including those related to health care, are indescribably verbose while reading. However, the vision statement should be short, like just a sentence. Making the statement, as mentioned earlier, may appear to be a difficult effort but at the same time it’s very important for the organization. On the other hand, these statements assist the organization is concentrating on the most vital components of the organization or business. When done correctly, it can save money and time while enhancing its chances of success.

When it comes to these declarations, the company's articles can be altered as the organization's or business's demands change, and it is essential to remember that they are living documents. According to Woodside (2018), these utterances are frequently viewed as "symbolic artifacts" that must be preserved. However, it will be perceived as a wastage of time if one cannot consider the importance of these statements. The issue may be that the organization will have no clear direction on what it wants to achieve. From an organizational standpoint, the issue is that they are not focused on what they want to do and how they will accomplish it. The steps or words that follow will assist in giving clear direction to the organization. On the other hand, strategy refers to one or more approaches to accomplishing a vision statement through a mission statement. There may be just one vision and mission statement, but there may be several tactics.

 

Cite at least one peer-reviewed, scholarly, or similar reference to support your assignment.

Week 2: Market Analysis for Phoenix Hospital

Review the Phoenix Hospital 5-Year Strategic Plan Scenario.

Research current health care events that influence hospital or other health care facility performance. Consider using the article review from the Week 2 assignment, “Understanding Strategic Decision-Making in Health Care,” if applicable.

Complete the chart using a minimum of 700 words with the following information:

· Identify 3 major market factors from the Phoenix Hospital scenario.

· Analyze how the major market factors selected will affect performance of the hospital in the next 3 years.

· Consider real-life current events in health care and how those could affect hospital performance.

Major market factor	Analyze how the major market factor affects hospital performance.
1
2
3

Cite at least 1 peer-reviewed, scholarly, or similar reference to support your assignment.

Week 3: SWOT Analysis for Phoenix Hospital

Review the SWOT Analysis PowerPoint® prior to completing this assignment.

Based on the review of the Phoenix Hospital 5-Year Strategic Plan Scenario, conduct a SWOT analysis to generate a list of perceived strengths, weaknesses, opportunities, and threats for the hospital.

· Strengths and weaknesses are traits internal to the hospital (e.g., strong physician loyalty to the hospital, aging building, and availability of financial resources).

· Opportunities and threats are external to the hospital (e.g., a mall facility available for lease or a competitor hospital opening two physician practices in your market).

Complete the SWOT analysis for the Phoenix Hospital 5-Year Strategic Plan Scenario. Include the following in your SWOT analysis:

· A list of perceived strengths, weaknesses, opportunities, and threats

· At least 3 items in the SWOT analysis must be related to technology, regulatory, and financials.

· You have been provided one section for each SWOT area. If you would like to add additional items to SWOT sections, please add additional line items to the table.

· An analysis of the information from the strategic decision-making scenario that supports the SWOT analysis items

Note: Think ahead in your assignments regarding how your items in the SWOT analysis will translate to objectives and strategies in Week 4. For example, a weakness like “Limited registered nurse staffing in several departments” might translate to an objective of “Increase RN staff by 15 nurses within first 6 months.” The strategy for this objective might be “Job fair at the state nursing convention will increase interest and awareness of opportunities at Phoenix Hospital.”

Table 1: SWOT Analysis

Perceived strength (internal)	Perceived weakness (internal)
[Insert Response]	[Insert Response]
Perceived opportunity (external)	Perceived threat (external)
[Insert Response]	[Insert Response]

Analysis of existing technology information from the Phoenix Hospital strategic decision-making scenario. Include the following in your analysis:

· Analyze existing technology information.

· Determine if the technology are considered a strength, weakness, opportunity, or threat for the organization.

· Explain your selection.

[Give your response]

Analysis of existing financial information from the Phoenix Hospital strategic decision-making scenario. Include the following in your analysis:

· Analyze existing financial information.

· Determine if the financials are considered a strength, weakness, opportunity, or threat for the organization.

· Explain your selection.

[Give your response]

Analysis of existing regulatory information from the Phoenix Hospital strategic decision-making scenario. Include the following in your analysis:

· Analyze existing regulatory information.

· Determine if the regulatory information is considered a strength, weakness, opportunity, or threat for the organization.

· Explain your selection.

[Give your response]

Analysis of existing information from the Phoenix Hospital strategic decision-making scenario. Include the following in your analysis:

· Select an additional market factor and complete your analysis.

· Determine if the factor selected is considered a strength, weakness, opportunity, or threat for the organization.

· Explain your selection.

[Give your response]

Cite at least 1 peer-reviewed, scholarly, or similar reference to support your assignment.

Week 4: Goals and Objectives for Phoenix Hospital

Based on your review of the Phoenix Hospital 5-Year Strategic Plan Scenario provided in Week 1 and your work in Weeks 1 through 3 on mission development, market and SWOT analysis, complete the table below listing 4 to 5 objectives and strategies for the facility. Explain why each strategy is important.

For our project we will define:

· Goals as broad primary outcomes desired; what we would like to accomplish

· Objectives as measurable; should contain a number

· Strategies as the approach taken to achieve the objectives; the “why” of our actions

An example is provided in the first row. Note that your strategic priorities should be areas where you believe the facility should focus in the first year of the strategic plan.

For this assignment, you can use a goal more than one time, but you need to create at least 4 to 5 measureable objectives and provide the strategy for each. Discuss why you believe each strategy is important:

1. Make Phoenix Hospital the preferred hospital in Hanover County by employees and consumers.

2. Make Phoenix Hospital known as the hospital with the most advanced use of technology in the region (including computer and diagnostic technology).

3. Make Phoenix Hospital known as the employer of choice in Hanover County.

4. Make this coming year the most profitable year ever.

5. Ensure Phoenix Hospital meets all accreditation requirements under the latest CMS regulations.

Goal (Select from goals listed above. Goals can be used multiple times)	Objectives/measurable actions (Measurable outcome desired)	Strategies (The “why” of our actions)	Why this strategy is important
Example: Make our model X automobile a sales leader in the country by year X.	Obtain 60 percent of the sales market as compared with model Y as demonstrated in Consumer Reports annual report.	Persuade buyers that model X has the best visual appeal by marketing to the 30- to 40-year-old market with an upscale campaign.	Marketing specific to 30- to 40-year-old demographic increases the sales in age range that has had lower sales in the past last year.
	1
	2
	3
	4
	5

Cite at least 1 peer-reviewed, scholarly, or similar reference to support your assignment.

Week 5: Final Decision for Phoenix Hospital

This week, you will review your work in the Strategic Design Template in order to make a decision or recommendations about the 5-year strategic plan for Phoenix Hospital. Prior to making your decision or recommendations, it is important to review your work in this template, compiled research, and faculty feedback.

Write a 260- to 350-word paper that details your strategic decision or recommendation for the Phoenix Hospital. Include the following in your paper:

· Identify the decision or recommendations you will make regarding Phoenix Hospital.

· Support your decision with the analysis made throughout this template.

· Identify how the decision or recommendations will support the strategic plan for Phoenix Hospital.

Cite at least 1 peer-reviewed, scholarly, or similar reference to support your assignment.

References

Woodside, J. M. (2018). Organizational health management through metaphor: a mission-based approach. Journal of health organization and management.

Copyright© 2019 by University of Phoenix. All rights reserved.

Copyright© 2019 by University of Phoenix. All rights reserved.

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