HPA 455 Exam 1 with correct answers

HPA 455 Exam 1 with correct answers Strategy definition - Correct Answer organizing information better to make better decisions We live in a _______ economy - Correct Answer service 4 basic functions of management - Correct Answer 1. Planning 2. Controlling 3. Organizing 4. Leading Motivation - Correct Answer is an internal drive related to satisfying needs strategic planning - Correct Answer establishing objectives based on environmental conditions and the subjective beliefs of the opponents effects the entire organization What drives strategy - Correct Answer mission and vision strategic intent - Correct Answer mission vision and value Strategy in healthcare - Correct Answer mix of profit and non profit organizations Components/ Drivers of healthcare strategy - Correct Answer technology, demographics, competition, barriers to entry, politics, global forces Two types of strategy - Correct Answer 1. prospective 2. emergent or realized Prospective Strategy - Correct Answer forward planning, flexible, shift quickly, "guessing about the future" Emergent Strategy - Correct Answer look to past to predict future, focus on competitors, make decisions based on past Best Strategy - Correct Answer combination of prospective & emergent Where does strategy happen? - Correct Answer at all levels Levels of strategy - Correct Answer 1. Corporate