Management By Walking Around

Write a 2 page paper addressing the following elements in your paper:

• Discuss and Explain the managerial tool of management by walking around (MBWA) and its impact on creating a strategy ready culture.

Include a title page and 3-5 references. Only one reference may be from the internet (not Wikipedia). The other references must be from the Grantham University online library. Please adhere to the Publication Manual of the American Psychological Association (APA), (6th ed. 2nd printing) when writing and submitting assignments and papers.

W8 Lecture 1 “Creating a Strategy Ready Culture”

Healthcare Strategic Management

Creating a Strategy Ready Culture

It is far easier to create a strategic plan than to implement one. In our weeks together, we have discussed many aspects of organizational strategy. This lecture will take all of the organizational tidbits from previous lectures and readings and combine them into a discussion of how an organization readies itself for carrying out the strategic plan. According to Thompson, Strickland, and Gamble there are eight managerial tasks that are needed to execute strategy.

1. Building an organization capable of implementing the strategy. This would include putting together a strong management team. In addition, not only does this include finding the right help it is also imperative to retain them. Many times the organization cannot afford to keep their star employees as a larger, more profitable entity might offer them a better compensation package.
2. Obtaining/securing sufficient money to drive strategy execution. In essence, it costs money to make money.

1. Instituting policies and procedures that facilitate strategy execution. In an earlier lecture, we mentioned that changing direction for an organization takes time. The amount of time necessary can be decreased significantly if an organization uses the grass-hut strategy as opposed to the brick house. If our policies and procedures are rigid (brick house) we would need to spend considerable time rebuilding the brick house in the new direction. As such, in the time of implementation, it is wise to build grass-huts. Grass-huts can provide the structure and security needed to continue operations, yet can quickly be dismantled should the organization require further directional changes.
2. Adopting best practices and pushing for continuous improvement. Constantly monitoring the value chain is a critical task to ensure organizational readiness.
3. Installing information and operating systems that enable company personnel to work proficiently. Health information technology is a burgeoning field with limitless possibilities. Although costly to implement, the overall value for implementation is well worth the investment.
4. Tying rewards directly to achieving strategic and financial targets.
5. Instilling a corporate culture that promotes good strategy execution. Leadership starts at the top. Perhaps one of the most effective yet little used strategies for developing a culture is that of MBWA – managing by walking around. Leaders who know their employees and know their organizations can more effectively lead their company than those who remain isolated in their office.
6. Exercising strong leadership to drive execution. This includes everything from communicating the plan effectively to measuring its progress accurately.

W8 Lecture 2 “Putting It All Together”

Healthcare Strategic Management

Putting It All Together

Hard to believe that we are here at the end of our journey. In week one we reviewed the history of strategic management; from its humble roots in scientific management, to the complex systems of today. In week two, we turned our attention to the various models of strategic management. We also covered the importance of developing not just goals but SMART goals. Week three explored the different levels of strategy including corporate level to the individual unit.

Week four we discussed the steps involved in developing a strategic plan. We learned about the pitfalls of espoused reality versus actual reality. Saying it doesn’t mean it is true. We also covered the implementation of the plan. In week five we reviewed the importance of developing a comprehensive competitor analysis. While on the topic of competition, we covered the need for ethical practices in strategic management and discovered that ethical corporations outperform their unethical counterparts.

In week six we discussed the different types of strategies that an organization might employ. From expansion to adaptation, strategies are used to help an organization focus their efforts to achieve their overarching operational goals. Week six also covered the assessment of the current strategy and the differences between qualitative and quantitative analyses. In week seven, we turned our attention to the value chain within the organization and how it is the building block of the strategic plan. In the first lecture of this week, we reviewed how to create a culture capable of actually implementing strategy. In conclusion of the course, let’s review the 5 P’s of strategy as developed by Henry Mintzberg.

1. Strategy is a consciously developed course of action with intended guidelines.
2. Strategy is the consistent behavior exhibited by the organization whether intentional or not. Every time a behavior related to the strategy is repeated, the more ingrained and comfortable it becomes.
3. Strategy integrates the purpose of the organization. The mission, vision, and values held by the organization are present in the plan and pattern.
4. This specifically means the location of the organization in its larger environment.
5. While position looks externally, perspective views internal practices. How does the organization perceive the world around it? Is it caught up in the latest fads of management or is it staying true to its self? Perspective helps define the overall strategy.

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