Report on the strategic plan of your company. Reflect on how the strategic plan relates to the organizational structure, leadership, mission, vision and core values of the company. Discuss how strategic planning could benefit you as you engage your own personal economic life.
Assignment needs to be delivered by 5pm est
Choose an organization to study. Provide an introduction to the organization, its products, and services. Discuss why you chose this organization to study, any area of the organization that is of particular interest to you. The organization chosen must be part of the student’s area of concentration.
Business Strategy: Acadia Healthcare
Acadia Healthcare is a publicly traded behavioral health company headquartered in Franklin, Tennessee, USA. The company was established in 2005 to create and operate a group of behavioral healthcare facilities across the country. Acadia Healthcare provides a wide variety of services (including chemical dependency and psychiatric/mental services) to patients in different health settings, including specialized treatment facilities, inpatient psychiatric facilities, outpatient clinics, and residential treatment centers, among others (Acadia Healthcare, n.d). As of now, Acadia is the top provider of behavioral health services in the U.S. As of September 2021, the organization operated a group of two hundred and thirty behavioral health facilities with around 10,200 beds across the country
I chose this organization as it relates to my field of study, which is MBA in Medical Management. One aspect of the company that is of particular interest to me is Acadia’s philosophy and management style that upholds flexibility and collaboration. The company values input from staff members, physicians, nurses, and other key stakeholders. The mission of the organization is “to create a world-class organization that sets the standard of excellence in the treatment of specialty behavioral health and addiction disorders.”
Acadia Healthcare trades on the stock exchange. In the stock exchange, the company involves investors in buying and selling its shares. The company trades as NASDAQ, Russell 1000, and S&P 400. Nasdaq Composite is one of the stock market indices that are followed in the US. Acadia Healthcare Inc. is labeled as NSQ: ACHC in NASDAQ.
The company understands that investors are on the lookout for cheap but quality stocks and that is what is offered (Hobson, 2020). Stocks that are low cost but of good quality tend to be the popular market strategy for businesses. The trading share price of Acadia Healthcare is favorable for common investors because of its low cost valuation and high quality.
Good quality is preferred in the market because they represent dependable and solid businesses. It also shows the financial strength of the company apart from its profitability which means Acacia is a financially strong company. The quality of the stocks has been determined by metrics in the F-Score financial test. This score is a widely accepted accounting checklist that is used to determine stocks that improve financial health.
The market price of Acadia’s shares increases steadily over the months, however, investors have to be careful to choose stocks that are genuine bargains instead of falling for the value trap. Acadia factors in the weak nature of the economy thus the affordable prices. Forecasting the potential earnings can be difficult due to many factors and Earnings Yield can be used to determine the future state of the market.
Earnings Yield is used for comparison of the company’s market valuation and its profits. It provides the total value of the stock making it easier for investors to compare various types of stocks in the market. A reasonable Earnings Yield should be at least 5% and Acadia’s value is at 5.02% making it favorable for investors (Hobson, 2020).
References
Acadia Healthcare. (n.d). About Acadia Healthcare. Retrieved from: https://www.acadiahealthcare.com/about/
Hobson, B. (2020). What factors will move the Acadia Healthcare Inc share price?. Stockopedia. Retrieved 14 January 2022, from https://www.stockopedia.com/articles/acadia-healthcare-inc-what-factors-will-move-the-acadia-healthcare-inc-share-price-112078%7d/.
Hobson, B. (2020). Why Acadia Healthcare Inc is a mid-cap stock for contrarian investors. Stockopedia. Retrieved 14 January 2022, from https://www.stockopedia.com/articles/acadia-healthcare-inc-why-acadia-healthcare-inc-is-a-mid-cap-stock-for-contrarian-investors-123458%7d/.
ORGANIZATIONAL STRUCTURE 1
In Acadia healthcare some of the key people under the
CEO
is the Chief Finance Officer (
CFO
) and the EVP General Counsel. The CFO is responsible for the financial health of the company. He is the senior financial officer of the Healthcare Company, reporting to the CEO and board of the directors. Under the CFO, the EVP finance oversee the financial records while projecting the financial position of the company (Boykin, 2019). The EVP General Counsel heads the legal department at the company wand ensures the company acts according to the government regulations. Under him there is the deputy general counsel.
Acadia Healthcare has its headquarters in Franklin, Tennessee. It was developed to expand and operate a chain of behavioral facilities in the country. The organization is led by Debbie Osteen who is the Chief Executive Officer (CEO) (Acadia Healthcare – Org chart | The Org, 2022). Those under her include Chief Finance Officer (CFO), Chief Quality and Compliance Officer, Chief Medical Officer, EVP General Counsel, Operations Finance, and Senior Vice President (SVP) Strategic Affairs. The organization also has a board of directors. There are more than 20,000 employees across the country as its presence is in 40 states (About Us | Acadia Healthcare, 2022).
Debbie Osteen has been the CEO for more than four years at the organization. Since then she has contributed facilitated the acquisition of facilities as well as spearheaded the establishment of ventures across the country. She has the experience that it takes to be the leader of Acadia. Previously she worked as a vice president at the Universal Services Incorporation and led the organization’s behavioral health division for more than 18 years. She has served as an executive committee member in various institutions (Debbie Osteen – CEO at Acadia Healthcare | The Org, 2022).
David Duckworth the CFO has been working at Acadia since 2011. As a previous director of finance, the CFO has served clients who were in the healthcare field and that equipped him for the current role in healthcare (David Duckworth – CFO at Acadia Healthcare | The Org, 2022). Isa Diaz is the SVP of Strategic Affairs, and she has been serving at the organization since 2019. She has over 30 years of experience as an executive and has worked long enough in the behavioral health sector. She has had leadership roles in managed care setups and hospital institutions.
Leadership plays a significant role in the organization. It has a direct effect on the culture developed at Acadia. Leaders demonstrate and represent the beliefs and the mission the company stands for and they ensure the same values are instilled in other employees (Craig, 2018). Leaders are important in the organization since they push for social good for both the clients and the employees.
An organizational chart clearly defines every individual’s responsibility. It also ensures the workflow at Acadia is well organized and the important tasks are completed timely. This ensures employees are focused on the assigned tasks and productivity is promoted. The internal structure gives leverage and ensures there is accountability which promotes performance in the long run. The future success at Acadia depends on how every leader handles their departments and roles.
Operational efficiency is improved by both leaders and the organizational structure because employees get a clear picture of what is expected from them. Departments therefore can focus on their energy and time on productive tasks that enable the organization to succeed in the future. When the structure is outlined, a road map for internal promotions is provided allowing leaders to create employee advancement strategies.
Acadia Healthcare uses a large organizational structure with multiple leaders at the top and they make most decisions on the internal operations (Zhang et al., 2015). Through the charts, employees can identify their leaders as this minimizes the time and effort used to determine where and who to pass information to. Through charts and structures, the internal workforce needs can be analyzed since the leaders and the executives have a clear picture of their various departments. Through identifying the gaps in the organization, it is easier to balance teams and ensure staff is available to help meet the set objectives and goals.
References
Boykin, M. (2019). Department of Healthcare Management 2018-2019 Organizational Chart (Doctoral dissertation, Walsh University).
About Us | Acadia Healthcare. Acadia Healthcare. (2022). Retrieved 18 January 2022, from https://www.acadiahealthcare.com/about/.
Acadia Healthcare – Org chart | The Org. THE ORG. (2022). Retrieved 18 January 2022, from https://theorg.com/org/acadia-healthcare/org-chart.
Craig, W. (2018). The Role Leadership Has In Company Culture. Forbes. Retrieved 18 January 2022, from https://www.forbes.com/sites/williamcraig/2018/09/05/the-role-leadership-has-in-company-culture/?sh=60af4b1b16b6.
David Duckworth – CFO at Acadia Healthcare | The Org. THE ORG. (2022). Retrieved 18 January 2022, from https://theorg.com/org/acadia-healthcare/org-chart/david-duckworth.
Debbie Osteen – CEO at Acadia Healthcare | The Org. THE ORG. (2022). Retrieved 18 January 2022, from https://theorg.com/org/acadia-healthcare/org-chart/debbie-osteen.
Zhang, J., Yu, P. S., & Lv, Y. (2015, August). Organizational chart inference. In Proceedings of the 21th ACM SIGKDD International Conference on Knowledge Discovery and Data Mining (pp. 1435-1444).
CEO
CFO
EVP Finance
EVP, General Counsel
Deputy General Counsel
Senior Director, Tax
Report on the mission, vision, and core values of the company you have chosen. What are the strengths of the core values? What values are missing, or what values do you think are omitted. Incorporate at least two peer reviewed journal articles into your discussion of the core values. Reflect on your personal core values; what they are and how they guide your behavior.
The
Mission
,
Vision
, and
Core Values
of Acadia Healthcare
Mission
Acadia Healthcare’s mission is “to be a world-class organization that sets the standard for excellence in the treatment of mental health and addiction concerns.” The organization strives to retain its position as the top provider of mental healthcare services within the industry. Acadia Healthcare also strives to make its treatments synonymous with exceptional commitment to patients, communities, professional workers, and staff. (Acadia Healthcare, n.d.) The goal is to make their facilities stand out from others through the provision of quality and exceptional care that puts the needs of the patient first.
Vision
Acadia Healthcare’ vision is “to promote comprehensive and integrated care to improve the mental well-being of the children, adolescents, and adults we serve.” Core competencies, which include capabilities and resources, allow the organization to maintain its top position through collaboration with investors, patients, and other professionals in the industry (Acadia Healthcare, n.d.). Acadia Healthcare’s vision is manifested through the following:
Sensitivity to and understanding of the patients, as well as their families.
The integrated application and appreciation of up-to-date evidence-based practices of psychoeducation, psychodynamic health care, and psychotherapy.
Cooperation and engagement with the organizations and people who work collaboratively for the benefit of the patient.
Core Values
Acadia Healthcare’s core values include the following:
Respect
Compassion
Diversity and Inclusion, and
Collaboration
The Strengths of the Core Values
Acadia Healthcare’s core values represent the organization’s fundamental driving forces, deeply held beliefs, and highest priorities. They are the heart of what Acadia Health and its employees stand for. Employees at Acadia Healthcare honor and respect everybody. They demonstrate this through the compassion and dignity they show every patient. Additionally, the organization embraces and upholds diversity and inclusion as they believe that diversity plays a vital role in what makes Acadia Healthcare so exceptional (Acadia Healthcare, n.d.). Physicians are always determined to offer quality behavioral care through collaboration in service delivery.
Values Omitted
Some of the values missing at Acadia Healthcare’s core values include integrity, accountability, and fairness. Integrity is a vital core value in a company. Embracing integrity throughout the workplace can foster a positive work environment that upholds open communication, ethical decision making, and healthy relationships (Huberts, 2018). Accountability is also a vital core value in an organization. Accountability in the workplace promotes ownership and engagement as everybody clearly understands what his/her expectations and responsibilities are. Also, accountability increases job satisfaction, enhances employee commitment, and promote better working relationships – all of which contribute to better performance (Han & Hong, 2016). Fairness is also a critical core value. Fair treatment of workers in the organization builds trust, strengthens loyalty, increases productivity, and enhances morale.
Reflection on My Personal Core Values
Some of my personal core values include integrity, honesty, humility, and perseverance. These values guide my behavior every day. They inform my actions, words, and thoughts. This means that the decision and actions I make must honor them. Living by my core values has been critical in my life. This implies being the most authentic version of myself in every facet of my life. Not just at school, not just at work, or with my family members, but in every area that matters to me. When I am not in alignment with my core values, I usually feel guilty. So, I always try to stay true to my values, which has inspired my friends and family to do the same.
References
Acadia Healthcare. (n.d.). Our Mission, Vision, & Principles. Retrieved from: https://www.acadiahealthcare.com/about/mission-vision/
Han Y, Hong S. (2019). The Impact of Accountability on Organizational Performance in the U.S. Federal Government: The Moderating Role of Autonomy. Review of Public Personnel Administration, 39(1):3-23. DOI: https://doi.org/10.1177%2F0734371X16682816
Huberts, L. W. (2018). Integrity: What it is and why it is Important. Public Integrity, 20(sup1), S18-S32. DOI: https://doi.org/10.1080/10999922.2018.1477404
