Question

How might external and internal environmental factors influence the strategic plan? Highlight the basic differences between vertical and horizontal external environments compared to internal institutional, resource-dependent, and contingent environments. Which strategies might a health leader operating in these environments leverage to ensure success?

Answer 1

Answer:

External factors like the economy, politics, competitors, customers, and even the weather and internal factors such as staff, company culture, processes, and finances can influence an organization's Strategic Plan.

Explanation:

• The vertical and horizontal external business environment is composed of economic, political and legal, demographic, social, competitive, global, and technological factors while the organization's culture, product development, mission and strategy are all part of the internal institutional, resource-dependent, and contingent environments.

• Vertical and horizontal external environments are generally beyond the control of management and change constantly compared to internal institutional, resource-dependent, and contingent environments that managers have a great deal of control over.

A health leader operating in these environments can leverage on continuous study on how to adapt to the external business environment to ensure success