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The business plan of a healthcare organization describes the purpose of the HCO and lends structure to its organizational goals. The strategic plan is used as a directional guide; in other words, how the organization will fulfill its purpose and put ideas into action. The strategic plan also prioritizes the organization’s resources as a means to fulfill the business plan. Simply put, the business plan is the “what,” and the strategic plan is the “how.”
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To prepare for this assignment, read Chapters 1 and 2 in the course text as well as the required article by Varkey and Bennett (2010). You may also want to review the recommended article by Williams (2008). For your initial post, answer the following questions in the discussion forum:
- What is the difference between a healthcare organization’s business and strategic plan? Be sure to include the purpose of each plan and how they relate to one another.
- Why is it important for a healthcare organization to develop a strategic plan?
Support your initial post with in-text citations and references for at least two scholarly sources.