Strategic Management (FBLA Healthcare Adminstration)

What is management?

The process of planning, organizing, staffing, directing, and controlling organizational resources to achieve goals efficiently and effectively.

What are the five core functions of management?

Planning, organizing, staffing, directing, and controlling.

What is planning?

Setting goals and deciding how to achieve them.

What is organizing?

Arranging people, resources, tasks, authority, and responsibilities so goals can be achieved.

What is staffing?

Obtaining, developing, and maintaining the workforce needed to accomplish organizational goals.

What is directing?

Guiding, leading, motivating, communicating with, and supervising employees.

What is controlling?

Measuring performance, comparing actual results with standards, and taking corrective action.

What is efficiency?

Using resources wisely and minimizing waste; doing things right.

What is effectiveness?

Accomplishing organizational goals; doing the right things.

What is the difference between efficiency and effectiveness?

Efficiency focuses on wise use of resources, while effectiveness focuses on achieving the correct goals.

What are internal factors that can affect management?

Organizational goals, culture, employee skills, financial resources, technology, structure, and policies.

What are external factors that can affect management?

Economic conditions, competition, laws and regulations, technology changes, social and demographic changes, and customer or community needs.

How can organizational culture affect management?

It influences employee behavior, decision-making, communication, and how work is performed.

How can economic conditions affect management?

They can affect budgets, demand, costs, employment, and organizational decisions.

How can technology affect management?

It can change how work is performed and may require new systems, skills, training, or strategies.

What is strategic analysis?

The process of examining internal and external factors to support strategic decision-making.

What is SWOT analysis?

A tool that identifies Strengths, Weaknesses, Opportunities, and Threats.

What are strengths in a SWOT analysis?

Internal advantages or capabilities of an organization.

What are weaknesses in a SWOT analysis?

Internal limitations or disadvantages of an organization.

What are opportunities in a SWOT analysis?

External situations or trends an organization may benefit from.

What are threats in a SWOT analysis?

External situations or conditions that could harm an organization.

Which SWOT factors are internal?

Strengths and weaknesses.

Which SWOT factors are external?

Opportunities and threats.

What does PEST stand for?

Political, Economic, Social, and Technological.

What does PEST analysis examine?

Major external macro-environmental factors.

What political factors may affect an organization?

Government policies, political conditions, and government actions.

What economic factors may affect an organization?

Economic conditions such as inflation, employment, spending, and financial conditions.

What social factors may affect an organization?

Demographics, population trends, culture, and consumer behavior.

What technological factors may affect an organization?

New technologies and technological change.

What is TOWS analysis?

A strategic tool that uses SWOT factors to develop strategic actions.

What is an SO strategy?

Using strengths to take advantage of opportunities.

What is an ST strategy?

Using strengths to reduce or respond to threats.

What is a WO strategy?

Addressing weaknesses to take advantage of opportunities.

What is a WT strategy?

Reducing weaknesses and avoiding or minimizing threats.

What is the main difference between SWOT and TOWS?

SWOT identifies factors, while TOWS matches those factors to develop strategic actions.

What is managerial planning?

The process of setting goals and deciding in advance how those goals will be achieved.

Why is planning important?

It provides direction, reduces uncertainty, coordinates activities, and helps managers use resources effectively.

What is the first step in the planning process?

Set goals.

What is the second step in the planning process?

Analyze the situation.

What happens after analyzing the situation in planning?

Managers develop possible alternatives.

What happens after developing alternatives?

Managers evaluate the alternatives.

What happens after evaluating alternatives?

Managers select a course of action.

What happens after selecting a course of action?

Managers implement the plan.

What is the final ongoing step of planning?

Monitor progress and revise the plan when conditions change.

What is a strategic plan?

A long-term plan that guides the overall direction of an organization.

What is a tactical plan?

A shorter-term plan that supports strategic plans, often at the departmental level.

What is an operational plan?

A detailed plan for day-to-day activities and procedures.

What is a contingency plan?

An alternative plan prepared for unexpected events or changing conditions.

What does SMART stand for in goal setting?

Specific, Measurable, Achievable, Relevant, and Time-bound.

What is division of labor?

Breaking work into specialized tasks.

What is departmentalization?

Grouping jobs and activities into departments.

What is delegation?

Assigning responsibility and authority to another person.

What is authority?

The right to make decisions and direct others.

What is responsibility?

The obligation to perform assigned tasks.

What is accountability?

Being answerable for results.

Can a manager delegate accountability completely?

No. A manager may delegate authority and responsibility, but generally remains accountable for final results.

What is span of control?

The number of employees directly supervised by one manager.

What is centralization?

A structure in which decision-making authority is concentrated at higher organizational levels.

What is decentralization?

A structure in which decision-making authority is distributed to lower organizational levels.

What staffing factors should managers consider?

Workforce needs, job requirements, recruitment, selection, orientation, training, performance, compensation, and retention.

What is workforce planning in staffing?

Determining how many employees and what skills the organization needs.

What is job analysis?

Identifying a job's duties, responsibilities, skills, knowledge, and qualifications.

What is recruitment?

Attracting qualified candidates for open positions.

What is selection?

Choosing the candidate who best fits the job requirements.

What is employee orientation?

Introducing new employees to the organization, role, policies, and expectations.

Why are training and development part of staffing?

Employees need current skills for their jobs and preparation for future responsibilities.

What healthcare factors affect staffing decisions?

Patient demand, required credentials, schedules, workload, budget limits, quality, and safety needs.

What is leadership as part of directing?

Providing direction and influencing employees toward organizational goals.

What is motivation?

The process of encouraging employees to perform, participate, and remain engaged.

Why is communication important in directing?

It ensures expectations, information, and feedback are understood.

What is supervision?

Providing guidance and monitoring employee work.

What is conflict management?

Addressing disagreements constructively.

What can managers do to improve motivation?

Provide recognition, meaningful work, fair treatment, growth opportunities, appropriate rewards, and supportive leadership.

What are characteristics of effective communication?

Clarity, active listening, timely feedback, appropriate methods, and two-way communication.

What is the purpose of managerial control?

To ensure organizational activities and results meet established standards and goals.

What is the first step in the control process?

Set performance standards.

What is the second step in the control process?

Measure actual performance.

What happens after performance is measured?

Compare actual performance with standards or goals.

What is a deviation in the control process?

A meaningful difference between actual performance and the established standard.

What should managers do when significant deviations are found?

Investigate the cause and take appropriate corrective action.

What is feedforward control?

Control that occurs before work begins to prevent problems.

What is concurrent control?

Control that occurs while work is being performed to monitor activities in real time.

What is feedback control?

Control that occurs after work is completed to evaluate results and improve future performance.

What can managers control in an organization?

Financial performance, quality, employee performance, costs, productivity, schedules, safety, compliance, and satisfaction.

A manager compares actual staffing costs with the staffing budget. What management function is being used?

Controlling.