Formulating hospital strategy: moving beyond a market mentality.

Hospitals face a set of issues critical to strategy formulation that are markedly different than those faced by traditional corporations. Given this, the relevance of current business approaches to strategy formulation that focus exclusively on a narrow set of market-driven factors is questionable. Hospitals, it is argued, must take a more comprehensive view of strategy formulation that goes beyond issues of internal competency and environmental opportunities to incorporate the values of caregivers and the societal responsibilities of the institution as well.