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Abstract
Recent changes within the dynamic healthcare industry have necessitated further assessment of the strategic thought processes associated with financial success. Therefore, this study explored hospital executive's use of a comprehensive strategy-making process and its impact on performance in acute care hospitals. Taken as a whole, the strategy-making process is found to be positively associated with financial performance. Supplementary analysis, investigating the unique effects of environmental planning, scanning and analysis, revealed that, when considered separately, scanning and analysis contribute significantly to performance, whereas strategic planning, as classically defined, does not. Implications for decision-making in hospital settings are discussed.