Impact of Strategic Management Practices in the Healthcare Sector

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Impact of Strategic Management Practices in the Healthcare Sector
Strategic management is the formulation and implementation of tactical plans to reach specific goals aimed at making an organization more competitive. This is mainly done by defining the organizational future, setting goals, determining existing resources, and evaluating internal and external factors of the organization (Alomran, 131). In contrast, strategic management practices are top management exercises that include the organization's mission, vision, goals, ideas, decisions, and guiding principles that align with the strategy (Palladan and Adamu, 133). These practices are effective in enhancing medical exhibition. Every sector needs strategic management to operate smoothly, manage its assets, and become productive. In the healthcare industry, this instrument is becoming increasingly valuable for sustainable growth. This is due to the significant challenges experienced in the contemporary healthcare organization that require critical thinking and decision-making. These challenges have necessitated the provision of managerial skills that prove instrumental in offering solutions.
The healthcare industry is one of the critical sectors that requires proper strategic management to function effectively. The purposes of strategic management in this sector are: to assess the opportunities, constraints, and threats existing in the organization's external environment; to help top management develop and adopt appropriate measures for responding to challenges; to improve organizational performance; and to increase accessibility of healthcare services (Dennis, 3). Every healthcare institution’s goal around the world is to provide quality care and improve patient outcomes. Improving service quality is about making healthcare more efficient, safe, equitable, timely, and person-centered (Koning, 17). Achieving this goal is not always easy without helpful tools like strategic management. Many healthcare organizations purposely use strategic management to improve quality services, which in turn increase patient satisfaction and safety, reduce cost, and strengthen the organization's reputation.
Healthcare organizations encounter key challenges like staffing shortages, slow adoption of new technology, insufficient infrastructure, keeping up with advances in medical science and information, patient safety and privacy, cybersecurity, poor accommodation of patient needs, and reduced interoperability (Alomran, 134). These challenges compromise the quality of healthcare services. They slow down the care delivery process and reduce patient outcomes. For instance, a nursing shortage in the healthcare system may result in stress and burnout of the existing staff, increasing the risk of medical errors. It also demotivates providers,