Exam (elaborations)
PT Mgmt - Chapter 3 vocab (1).
- Course
- Biochemistry Module 3
- Institution
- Biochemistry Module 3
PT Mgmt - Chapter 3 vocab (1).
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PT Mgmt - Chapter 3 vocabBenchmarking - CORRECT ANSWER-Approach for identifying the outstanding
performers in a field
- For example, learning what your competitors do that makes them outstanding so
you can adapt appropriately
CEO - CORRECT ANSWER-Member of the top level of management of an
organization chosen by the board of directors/trustees
Formulates the strategic direction
Complexity - CORRECT ANSWER-The degree of external environment variation
among customers, services offered, and competitors
External factors/variables - CORRECT ANSWER-Anything outside of a person,
group, or business entity that can positively or negatively impact one's efforts in
fulfilling their goals
Mission statement - CORRECT ANSWER-Written document identifying why an
organization exists
What does the mission statement entail? (three things) - CORRECT ANSWER-1)
What the business does (services/products)
2) Who the customers are
3) Uniqueness/speciality
Outcome measures - CORRECT ANSWER-Means of quantifying outcomes for
managed care plans
What are the basic components of an external environmental scan? - CORRECT
ANSWER-PEST/STEP
Political, Economic, Social, and Technological
Sector environment - CORRECT ANSWER-Variables that affect the success of all
members of a specific industry such as health care
Strategic goals - CORRECT ANSWER-Ultimate quest of organizational efforts; what
the mission/vision hope to address
Strategic management - CORRECT ANSWER-Philosophy based on thinking in
terms of strategy formation
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