Financial Resources in the Strategic Resources Essay Example

Financial Resources in the Strategic Resources

A strategic plan helps healthcare organizations create key strategies, a meaningful way to achieve the strategies, and other critical factors that affect the success of the strategic plan process. The discussion will assess the following factors;

Trade-offs Related to Financial Resources

The main trade-off involved in ensuring sufficient finances during the strategic plan process includes having a realistic view of the strategic plan core competencies through an internal view, the healthcare facility alignment with the external factors, and careful monitoring and implementation (Brownson et al., 2018). Hence, our healthcare organization can engage in debt financing, where they will draft a loan plan that will be payable within the agreed time. The strategy will help the healthcare facility plan effectively on the agreed payment methods.

Right Personnel to Hire for the Strategic Plan

The current situation at the healthcare organization will require hiring an external auditor to work hand in hand with the project manager. In that case, there will be a need to roll out a training session for all the stakeholders to ensure that they interact with each other (Bryson, 2018). Such training will also equip the external auditor with knowledge of the company’s strategic issue and the expected performance. In that case, there will be a need to engage in an exclusive interview that will focus on only experienced auditors with several years at the role.

Reasonable Timeline for Adoption and Implementation

The reasonable main timeline to adopt is linear. Bryson (2018) asserts that a linear timeline is easily adjustable and easier to follow. Hence, by adopting a linear timeline, the healthcare facility will manage to address risks effectively, considering there will be regular meetings to assess the project’s progress.

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Insights Related to Change Theory, Common Barriers to Change, and Strategies

Udod and Wagner (2018) project that change theory involves three main concepts: organizational equilibrium, restraining forces, and driving forces. Hence, in addressing the changes that the current strategic plan will have to the healthcare facility, the manager will identify key monitoring indicators, data reporting, analysis structure, and the existing gaps. That approach will help the manager make the strategic plan more seamless and overcome the sensitive barriers that can affect the strategic plan’s success.

Specific Barriers to the Proposed Change

The main barrier that is likely to occur regard healthcare workers’ unwillingness to be part of the strategic plan in the healthcare branches that have adverse problems in funding and management. Hence, the best strategy will be to reward them for their patience and offer guidance and counseling sessions to those that may have been affected mentally, socially, and physically by the excessive workload to give them a sense of belonging.

Stakeholder Involvement in Planned Change

All the stakeholders will be essential to be involved in all the strategic processes from beginning to end (Udod & Wagner, 2018). However, the internal stakeholders like the organization leaders, managers, and healthcare workers will be more involved in all implementation activities for quality service and improve health care overall outcome while the external stakeholders will be providing information and feedback that will influence the success of the healthcare facility brand reputation.


Brownson, R. C., Fielding, J. E., & Green, L. W. (2018). Building capacity for evidence-based public health: reconciling the pulls of practice and the push of research. Annual review of public

Bryson, J. M. (2018). Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement. John Wiley & Sons.

Udod, S., & Wagner, J. (2018). Common change theories and application to different nursing situations. Leadership and Influencing Change in Nursing


  • Post an explanation of the specific resources (e.g., financial, personnel, time) needed to address the weaknesses and threats and build upon opportunities and strengths you identified through your SWOT analysis.
  • Explain how you would leverage these resources to carry out the change you are proposing through your Strategic Plan. Also, explain the strategies you would use to minimize or address barriers, including resistance to change, related to your Strategic Plan.
  • Explain how you would promote stakeholder involvement for your proposed change and encourage them to become change champions.
  • Finally, explain the potential negative consequences that could arise if stakeholder involvement is not adequately addressed during planning.

To prepare:

Review the Learning Resources that focus on the process of identifying resources for a strategic plan and addressing barriers to implementing a strategic plan change. Conduct additional research as necessary to deepen your thinking about resource identification for strategic planning.

Reflect on the results of the SWOT analysis you conducted for your Strategic Plan (submitted in your Module 2 Assignment) and consider what resources may be needed to address the weaknesses and threats and build upon opportunities and strengths you identified. Evaluate the specific financial, personnel, and time resources that you would need to carry out your proposed change.

Think about how you would leverage the resources you currently have and those you plan to acquire or develop to create the best possible results.

For instance, consider the following:

  • What trade-offs would you need to make to ensure that you have sufficient financial resources? How would you raise capital?
  • Who would you need to hire or promote, what training should be provided, and/or what workload adjustments would you need to make to have the right personnel in place?
  • What is a reasonable timeline for adoption and implementation gave the parameters of this change and other organizational or group priorities?
  • Consider insights related to change theory, common barriers to change, and strategies for addressing these barriers that relate to the implementation of your proposed change.
  • Identify specific barriers you are likely to encounter with your proposed change, including resistance to change. Evaluate strategies that may be used to minimize or address these barriers.
  • Think about the value of stakeholder involvement in planned change, as well as the specifics of stakeholder participation in your Strategic
  • Plan to champion the change. Who should be involved in strategic planning and at what point? How could they serve as change champions?