Strategic |
Read the
“Staying on Course with Strategic Metrics” article (second attachment). Text book chapter (first attachment) is provided as well.
As a future health
care administrator, you will be required to evaluate the strategies,
efficiency, efficacy, and outcomes of your department or strategic business
unit (SBU).
After examining the article, analyze the strategic
alternatives that result from monitoring strategic metrics pertaining to your
in the role of a department or SBU manager.
List at least two strengths
and weaknesses of basing strategic alternatives solely on strategic metrics.
Support your primary response with at least one scholarly source.
Provide
in-text citations and complete references for all sources used.
06CH_Spath_Strategic.pdf
Staying on Course.pdf
Expert Solution Preview
Introduction:
As a future healthcare administrator, it is important to evaluate the strategies, efficiency, efficacy, and outcomes of a department or strategic business unit (SBU). Examining the “Staying on Course with Strategic Metrics” article and using the knowledge from the textbook chapter provided, this paper will analyze the strategic alternatives that result from monitoring strategic metrics pertaining to a department or SBU manager. The strengths and weaknesses of basing strategic alternatives solely on strategic metrics will also be discussed with the support of at least one scholarly source.
Answer:
Analyzing strategic metrics is crucial for a department or SBU manager as it provides insights into the performance of the organization. The evaluation of these metrics helps in making important strategic decisions for the future. One of the strengths of basing strategic alternatives solely on strategic metrics is that it provides a clear picture of the strengths and weaknesses of the organization. This enables the manager to focus on improving the weaknesses and enhancing the strengths, resulting in better performance. The clear visibility of the organization’s performance also facilitates better goal setting and monitoring of progress towards achieving them.
However, there are also weaknesses of solely relying on strategic metrics. One of the weaknesses is that it does not take into account the external environment, which can impact the organization’s performance. For example, the change in government policies or the economic recession can cause a significant impact on the organization’s performance. Additionally, relying solely on metrics can lead to over-reliance on numbers, leading to missing out on qualitative aspects that cannot be quantified.
According to the study by Zott and Amit (2010), while the use of metrics provides a clear focus for the organization’s strategy, it is important to balance quantitative and qualitative aspects of strategic decision making. Additionally, they highlight the importance of considering the external environment when making critical strategic decisions. Thus, it is important to not solely rely on metrics but use them in conjunction with other factors to make informed decisions.
In conclusion, examining strategic metrics is crucial for a department or SBU manager, as it provides insights into the organization’s performance. While relying solely on metrics has its strengths in providing a clear picture of performance, it is crucial to balance quantitative and qualitative aspects and consider the external environment when making critical strategic decisions.
