(Top QUALITY 2024/2025 EXAM REVIEW) Healthcare Management and Strategy (WGU C432) - Interactive Notebook. Questions and answers. VERIFIED.

Healthcare Management and Strategy (WGU C432) - Interactive Notebook. Questions and answers. VERIFIED. How can focusing on operational efficiency blind leaders to the strategic needs of their organizations? Too focused on operating rather than on their strategy and needs. Operating vs. processes to fulfill their strategy. What are the disadvantages of ignoring strategy? Not fulfilling their mission, vision, and values. How do healthcare organizations differ in their use of strategy compared to other industries? Many healthcare organizations tend to study and copy other healthcare organizations to steal the market share from surrounding hospitals. What distinguishes goals-based from issues-based planning? Vision-based or goals-based strategic planning focuses on goals the organization wants to achieve. Issues-based planning focuses on resolving issues the organization faces. Vision Provides direction by depicting the organization's desired future state. Mission Reflects these values by expressing the organization's standards and purpose. Values Indicate how the organization should act; they define acceptable and unacceptable behavior. Prospective Strategy A deliberate planning process that forecasts an organization's future situation and designs means to guide an organization's future decisions. FORWARD THINKING PLANNING. Emergent Strategy A pattern of actions that develop over time and become an organization's strategy de facto. This type of strategy is identified by examining decisions that were made and the patterns that occurred as a result. Also called realized strategy. BACKWARD THINKING OF STRATEGY. Looks constantly at the competitor rather than their own strategy. Market Structure 1. Perfect Competition 2. Monopolistic competition 3. Oligopoly 4. Monopoly Perfect Competition Small organizations produce an undifferentiated, homogenous product. Ex. - Gasoline, generic drugs. Monopolistic Competition a market structure in which many firms sell products that are similar but not identical. Ex. - breakfast cereals and most private physician