What are the major components of strategic management, and why is each component needed for success?

The leader of a local health care organization, Kendra Klein, has noticed other health care organizations successfully incorporating strategic management practices. Kendra is considering using strategic management for her health care organization. She has hired you to research what the strategic planning development and implementation process is and to address why it helps organizations be successful.

Write a 700- to 1,050-word report of your findings in which you answer the following questions:

• What are the major components of strategic management, and why is each component needed for success?
• Why are an organization’s mission and values important to strategy formulation?
• What benefits does a strategic management process bring to a health care organization?
• How does strategic management affect organizational decision making and financial performance?
• How does strategic management affect the way an organization responds to its environment?

 

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