Strategy

Wake Forest University School of Business

What are the topics?

Wake Forest University School of Business

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Who should attend

Strategy 1 is designed for professionals at every level. Whether you are an top level executive or manage a smaller team, having a well constructed strategy is key for the success of your organization.

Strategy 2 is designed specifically for healthcare professionals.

About the course

COVID-19 is a serious challenge to business as usual. The need for resiliency, flexibility, and finding new ways to do business are prevalent. Yet what do these terms of ways of doing business mean? What specific strategies and practices make a business resilient? Flexible? Able to find new opportunities? And how can businesses become more valuable and adaptable? COVID-19 will not be the last major shock to businesses so having the skills, tools, and mindset to confront these serious shocks can make the difference between staying in business and not surviving.

You can’t predict the future and even if you could predict the near term once you start acting the world changes and you must change your strategy anyway. So, the core assumption of this strategy class (that leaders design for the future) is flawed! Stick to implementation and core business processes and forget about strategy. Oh really? The real benefit of strategy may be thinking systematically about your business – not the prediction. And who says that all strategy work is done and then you proceed without changes? It is a constant process of analysis and decision making. And strategy is not a monolithic concept that applies to every organization or every situation in the same manner.

Take-Aways & Learning Outcomes

Strategy 1 (4 sessions) will focus on handling times of uncertainty in strategy formulation and implementation.

  • What is strategic thinking?
  • Organizational competencies and their role
  • Macros Trends and their impact
  • Resiliency and risk

Strategy 2 (4 sessions) will focus on strategic thinking applied to healthcare.

  • Macro trends in healthcare
  • Value based healthcare
  • An alternative view – disruptive innovation
  • Technology in healthcare strategy

We will discuss how some healthcare organizations can earn persistently higher rates of return than their industry rivals. Industry structures and environments change at different rates so not all healthcare sector industries or business environments offer equal opportunities for firms to obtain high returns. A firm that consistently gains a competitive advantage understands its environment’s dynamics, understands itself, creates ambitious, clear yet flexible goals, and can set an organization in motion to offer services with superior patient value while balancing opportunities and risks.

We will cover current examples that reflect the vibrancy of the healthcare sector with a leadership approach that maintains an emphasis on your skills development, your knowledge of markets, and your business acumen.

Content & Competencies

STRATEGY 1

What is Strategic Thinking?

Session 1

  • Define, in your own words, what is strategic thinking
  • Create a model to guide your use of strategic thinking in mounting an organizational strategy

Organizational competencies and their role in strategic thinking

Session 2

  • Identify organizational competencies
  • Increase the ways organizational competencies add and create value

Macro trends and their impact on organizational strategy

Session 3

  • Identify sources of information about macro trends and their impact on organizational strategy
  • Incorporate macro trends into strategic thinking

Resiliency and risk

Session 4

  • Risk management approaches and their relationship to strategic thinking
  • Planning and resource allocation techniques for increasing resiliency and flexibility

STRATEGY 2

Macro trends in healthcare

Session 1

  • Propose the major macro trends that impact the healthcare sector’s ability to provide affordable, accessible, and quality healthcare.
  • Identify causes why the U.S. healthcare sector has relatively high costs and moderate outcomes compared to other national healthcare sectors (verify this assumption).
  • Specify in your own words what are the challenges in healthcare access.

Values based healthcare

Session 2

  • Define the aspects of a value-based healthcare system (focus on providers).
  • Define disruptive innovation and propose how it can contribute to improve cost, access, and quality outcomes.

An alternative view – disruptive innovation

Session 3

  • Case study review and break down

Technology in healthcare strategy

Session 4

  • Electronic health data; blockchains
  • Decentralized diagnostic testing, imaging; wearable devices to transmit health information
  • Artificial intelligence; data systems to aid diagnostic and therapeutic work
  • Robotics
  • Digital strategies – interoperability (common standards, specifications, agreements). Healthcare IT ecosystem

Experts

Daniel Fogel

Dan Fogel is SP3’s Founder, Chairman, and CEO, Dan Fogel knows how organizations adopt sustainability practices and principles as part of their core strategies. His research and teaching focuses in areas including (but not limited to): environmental sustainability, global sustainable business and...

Strategy at Wake Forest University School of Business

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

We are happy to help you find a suitable online alternative.