Running Head: STRATEGY 1

Strategy

Student’s Name

Institutional Affiliation
STRATEGY 2

Part 1

The most important part between the formulation and implementation of the strategy is the

formulation process. The process starts with the management involving other employees on the

insights they need to be put in place. The research is necessary is that it enables the company to

figure out how the process will be conducted and the timelines set. The meeting should be an

informal one to ensure that the stuff gives insightful ideas on the issue (Grattan, 2016).

The challenges associated with this stage include not having a supportive staff that will do proper

research on the problems for implementation purposes (Bamberger, Biron, & Meshoulam, 2014).

Engaging employees in the process is essential as it will allow them to understand how the idea

will affect individuals at the job place. During the stage, the company might struggle with trying

to balance the risk associated with the concept and innovation.

Part 2

A strategic metric is an essential tool in the management of any organization. As a health care

administrator, the company needs to have information that can help in achieving the company's

vision. Having measurable strategies enable the management to communicate to the members of

the board and organization at large and are usually reviewed annually.

The strategy alternatives that exist are the management metric and the tactical metric.

Management metric is done more intensely and after a short period like a week. The tactical

parameter, can be reviewed daily or within a short period and is used by the company to check

short term targets.

The strength of the strategic metrics is evident in an organization because it focuses more deeply

on the goals of the organization and also its tool for monitoring progress (Krentz, DeBoer, &
STRATEGY 3

Preble 2006). The weakness of this method is that it might not be acceptable by all members of

the organization, and in most cases, the visions of the organization may not be clear as reviewing

them is done after a long time.

STRATEGY 4

References

Bamberger, P. A., Biron, M., & Meshoulam, I. (2014). Human resource strategy: Formulation,

implementation, and impact. Routledge.

Grattan, R. F. (2016). Strategic review: The process of strategy formulation in complex

organizations. Routledge.

Krentz, S. E., DeBoer, A. M., & Preble, S. N. (2006). Staying on course with strategic metrics.

Healthcare Financial Management: Journal Of The Healthcare Financial Management

Association, 60(5), 86-93.