External Analysis: Effective Decision Making

444 Words2 Pages
Many lessons can be learned from the external analysis! First, the most important take away is that you must know your own business, and know it well. Knowing the details of your business allows for pointed questions to be asked that will guide research in the appropriate direction. It will not serve me well to ask and research the wrong questions. Effective decision making is the distinguishing factor that determines success, and decisions that are based on research rather than intuition have a higher probability of accomplishment (Nassar, 2007). Addressing the needs in our market allows our organization to create offerings that are economical, preventative, and responsible. We will only know these needs if we ask the right questions.…show more content…
Sound research also improves the chances of a decision being successfully executed (Nassar, 2007). We live in an age of information overload, and fortunately, have access to this information quick and easy. Relying on reputable resources for information, collecting useful data in our market and spending the time to review this information personally and with experts in our field are crucial to understanding how to apply the information. For example, I receive a journal monthly from AMPRA—The American Medical Rehabilitation Providers Association. AMPRA is dedicated solely to the interests of Inpatient Rehabilitation Hospitals and Units with a focus on advocacy in the field of medical rehabilitation and support the needs of persons with disabilities. This journal is highly regarded in our industry to provide knowledge to successfully navigate challenges and adapt to the ever changing regulatory environment in our hospitals. Journals such as AMPRA provide information that complements our organizational systems. HealthSouth has multiple online resources and employ highly educated and seasoned professionals that are able to discuss and assist in decision making. Our organization also has cutting edge technology with data readily available with a couple of computer key strokes. Finally, the third lesson is being able to successfully make a decision from the data, research, and guidance from the experts in the field. Confidence is required to move forward with a decision and take action. Information gathered does nothing but sit on a desk unless a leader is able to take the initiative to implement a plan. When knowledge is combined with action, it becomes power (Nassar,

More about External Analysis: Effective Decision Making

Open Document