How are an organization’s mission and values important to strategy formulation?

? Read the following: The leader of a local health care organization, Ken Janowski, has noticed other health care organizations successfully incorporating strategic management practices. Ken is contemplating the use of strategic management for his health care organization. He has hired you to research what the strategic planning development and implementation process is and to address why it is successful.

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

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

? Cite a minimum of two scholarly references to support your information. Remember that Wikipedia is not an acceptable source for graduate work.

? Format your report according to APA standards.
Use this text as one of your reference

Hunger, J. D., & Wheelen, T. L. (2007). Essentials of strategic management (4th ed.). Upper Saddle River, NJ: Pearson Education.

The major components of strategic management include strategic thinking, strategic

planning and strategic momentum (Hunger & Wheelen, 2007). These three activities of

strategic management offer many advantages to health care organizations. Strategic thinking

binds the organization together with a shared sense of purpose and shared values. Strategic

planning offers an organization with an apparent self- concept, definite goals and guidance, in

addition to, consistency in decision making. Strategic momentum enables organizational

members to work for the strategy and comprehend how their work adds value to the realization

of the strategic goals.

A clear sense of purpose and direction is prerequisite to strategic management.

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