Strategic Plan Research-Florida Blue

Strategic Plan Research-Florida Blue

Defining the aims, goals, and visions for a company’s future is crucial. Florida Blue’s strategic plan has been selected for analysis. The company’s selection is based on my familiarity with the company, having worked there once. The company has a tradition of making its objectives and targets as concise and transparent as possible. One aspect they made clear in their strategic plan is the objective to be a leader in business in health matters. They focus on mental well-being, health equity, and food security. The company’s strategic plan allows them to set goals and identify the necessary steps to achieve them (UFHealth, 2022). The plan introduces the company, the vision and mission statements, short notes regarding company achievements, and, sometimes, includes various metrics that offer insight into the company’s performance.

Evaluates the organization’s external and internal environments

The external and internal organizational environments influence its overall success. Aspects from the two environments are considered in Florida Blue’s strategic plan. Notably, external environment aspects identified in the plan include a foundation fact sheet highlighting different places in the community where the company intends to create an impact. Secondly, government regulations govern the establishment and operations of the company, notes and news regarding political factors affecting the company, and information regarding the industry in which the company operates.

People plan and achievements of a diverse workforce.

Florida Blue’s strategic plan includes a people plan and addresses the need for a diverse workforce. This is so because it contains aspects related to all company stakeholders and employees. One of the core principles stated in the plan is diversity, which is fostered among the employees. Diversity is essential because employees come from different backgrounds and join to work together to achieve the company’s goals. Additionally, customers served by the company come from diverse backgrounds equally. Essentially, this explains the place of people in the organization because lasting, solid, and value-based relationships are encouraged among employees and extend to parties outside the organization. However, the strategic plan does not have a clear people’s plan in their strategic plan. Although providing information on diversity is essential, the organization must consider improving in the future by creating and including a detailed people’s plan in its strategic plan.

Corporate social responsibility and environmental sustainability

The analyzed strategic plan of Florida Blue includes corporate social responsibility and environmental sustainability aspects. Essentially, the company produces a separate report addressing the corporate social responsibility efforts. The report paints the company as a socially responsible firm. The presentation of the social responsibility actions includes programs and projects conducted by the company to assist local communities. The projects include the Miami HEAT and HEAT Academy, Lift by GuideWell, Feeding Tampa Bay, and the Hurricane Michael Help and Rescue project. These are examples of projects that foster the company’s social responsibility. They have also contributed financial resources to community processes. Regarding environmental sustainability, the company provides in its strategic plan that it conducts its operations sustainably. However, the plan does not identify the company’s efforts to protect the natural environment. It is suggested that the company include in its plan the sources of energy used and disposal of waste generated from their operations. This is so because sustainability in their context will revolve around the two issues.

Reference

Florida Blue Foundation – Strategic Plan” Florida Blue Center “UF academic health center” University of Florida. Florida Blue Center. (n.d.). Retrieved November 1, 2022, from https://con-phhp-center-floridablue-a2.sites.medinfo.ufl.edu/about/florida-blue-foundation-strategic-plan/

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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.

Identify in 350 to 525 words what the plan does well and 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 the achievement of a diverse workforce
Has corporate social responsibility and environmental sustainability