Strategic Plan Research Florida Blue Strategy Analysis

Strategic Plan Research Florida Blue Strategy Analysis

Where the organization is going and how to get there

Florida Blue’s strategic plan has been chosen for study. I chose the firm because I’m familiar with it from my previous employment there. The business has a history of keeping its goals and objectives clear-cut and open. Being a corporate leader in health-related topics is one of the elements they made explicit in their strategic plan. They emphasize food security, health fairness, and mental well-being. The business’s strategic plan enables them to define objectives and determine the activities that must be followed to accomplish them (UFHealth, 2022). The plan presents the organization, the vision and purpose statements, brief comments on corporate accomplishments, and occasionally contains different metrics that provide information about the company’s functioning.

External and internal environment evaluation

Both the internal and external environments of the company have an impact on its general performance. The strategic plan of Florida Blue takes into consideration elements from the two environments. A foundation fact sheet illustrates various locations in a society where the corporation plans to make an influence. Regulatory requirements that govern the company’s establishment and operations, news and notes about influences affecting the company, and details about the sector in which the company operates are notable examples of external environment aspects mentioned in the plan (Ebrahimi & Banaeifard, 2018).

Peoples plan and achievement of a diverse workforce

The strategic plan for Florida Blue tackles the requirement for a diversified workforce and incorporates a people plan. Notably, this is particularly true because it includes information pertaining to the company’s employees and all other stakeholders. Diversity is promoted among the staff members and is one of the main tenets of the strategy. Consistently, diversity is crucial since workers come from all backgrounds and collaborate to accomplish the company’s objectives (Cletus et al., 2018). Additionally, the organization serves clients from a variety of backgrounds. Essentially, this clarifies the role of individuals within a business since it promotes long-lasting, stable connections based on shared values that extend to parties beyond the company. However, an explicit people’s strategy is not included in the strategic plan. Although disseminating workplace diversity information is crucial, the organization should think about ways to advance in the future by developing and incorporating a thorough people’s strategy into its strategic plan.

Corporate social responsibility and environmental sustainability

Aspects of environmental sustainability and corporate social responsibility are included in Florida Blue’s strategy plan, which has been examined. In essence, the corporation addresses the corporate social responsibility activities in a separate report. The corporation is portrayed in the report as being a socially conscious business. The company’s initiatives and programs to support regional communities are included in the presentation of its social responsibility activities. The initiatives include Feeding Tampa Bay, Lift by GuideWell, the Hurricane Michael aid and rescue mission, and the Miami HEAT and HEAT Academy. Notably, these are but a few instances of the initiatives that support the business’s social responsibility. Additionally, they have provided financial resources for community initiatives. The corporation states in its strategy report that it runs its activities sustainably with regard to the environment. The strategy, however, does not specify the company’s particular environmental protection initiatives. It is advised that the corporation include the energy sources consumed and the disposal of trash produced by their activities in its strategy. Notably, this is the case since the two problems will be at the center of sustainability in their setting.

References

Cletus, H. E., Mahmood, N. A., Umar, A., & Ibrahim, A. D. (2018). Prospects and challenges of

workplace diversity in modern day organizations: A critical review. HOLISTICA–Journal

of Business and Public Administration, 9(2), 35-52.

Ebrahimi, A., & Banaeifard, H. (2018). The influence of internal and external factors on the

strategic marketing planning in SNOWA Corporation. Journal of Business & Industrial

 Marketing. https://doi.org/10.1108/JBIM-02-2018-0083

UFHealth., (2022). Florida Blue Foundation – Strategic plan » Florida blue center » UF

academic health center » the University of Florida. Florida Blue Center » UF Academic

Health Center » University of Florida. https://con-phhp-center-floridablue a2.sites.medinfo.ufl.edu/about/florida-blue-foundation-strategic- plan

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In this course, you will be analyzing an existing strategic plan based on the information you have learned throughout the coursework in your MBA program. You will identify through research strengths and weaknesses and other information about the organization. You will develop a new idea/strategy to implement, develop an implementation plan, and determine KPI’s to measure the success of your plan.

Research and select a sample strategic plan in an industry with which you are familiar or interested. Be sure it includes the various components of a typical strategic plan. Reference Figure 1.1 “Identifying a Company’s Strategy—What to Look For” in Ch. 1 of your text. To avoid potential plagiarism issues I would suggest selecting an organization that you have not researched in any previous University course.

Identify in 350 to 525 words what the plan does well, in addition to areas for improvement.

Discuss whether the plan:

Clearly states where the organization is going and how it will get there
Evaluates the organization’s external and internal environments
Includes a people plan and addresses achievement of a diverse workforce
Includes corporate social responsibility and environmental sustainability

Submit the plan and its citation. The Company you select must be used in Weeks 4, 5 and 6 of the course for assignments.