Problem
There are five categories of strategy formulation available to utilize, and they are as follows:
1) Directional strategy
2) Adaptive strategy
3) Market entry strategy
4) Competitive strategy
5) Implementation strategy
To be effective, these strategies must be formulated in a specific order. Address the following:
1) Why is it so important to formulate strategies in this specific order?
2) Provide an example of each category of strategy formulation for discussion.
3) Based on your perspective, is one type of strategy formulation more effective than another for an acute care hospital? Why or why not?