Strategic Planning Flashcards
Definition
Document used by an organization to align its organizational actions and budget structure with organizational properties, missions, and objectives for the next 1 to 5 yrs
Strategic plan can be ___ wide or ___ wide
Organizational or Department
Strategic planning forges a link between
Planning - to achieve goals
Budgeting - to ensure resources are available
Measuring - to assess progress
Reporting - to present progress
Strategic planning in a nutshell
Determines where an organization is heading over a given period of time
Identifies how it is going to get there
Identifies how leaders will know if the organization reached the goals and outcomes
Benefits of strategic planning
Provides focus Prioritizes efforts Aligns efforts and goals Review of environment Enables communication Guide for implementation of action plans
Elements of a strategic plan
Mission statement Vision statement Strategic objectives Strategic goals Tactical action plans Outcome measures
Strategic plan vs. Business plan
Strategic - clarifies overall purpose and priorities - bigger umbrella
Business - builds on strategic plan, specific and highly detailed info - might just have the goals, action plans, outcome measures
Different views/models
Goal based planning
Issue based planning
Organic strategic planning
Different views/models - Goal based planning
very similar to what we do with a pt - they tell us what they want to be able to do
Start with goals in mind and work backwards
Different views/models - Issue based planning
comes with an organization going through redesign or some external force on it
more hurdle based planning
Different views/models - Organic strategic planning
this would be more of just going with the flow - not having a treatment plan at all, just going day by day with how they are feeling
So thinking of it more as just going with the flow
Different views/models - Organic strategic planning - common with who
small, new agile, or high paced flexibility (technology based) businesses - more min to min
The process - who is included
Owners, representation of employees (include as many as you can), include layers of people (staff, managers, senior leads, and maybe board of director, stock holders)
The process - who is the scope and time frame
Need to decide if organization wide or department wide
The process - what resources are needed
Management time Process facilitation Performance date gathering and analysis Market data gathering and analysis Implementation support
5 step process
1 Gain input - review M/V/V
2 Internal and external input and analysis
3 Setting goals and identification of direction
4 Action planning and deployment
5 Evaluation of the plan and achievements
5 step process - step 1 - who are the sources of input
Mission, Values, Vision SWOT analysis Performance meas From organization From external stakeholders From industry experts
5 step process - mission statement is what
Reason for existing
Should encourage commitment
Create innovation and buy-in
Reflect principles, actions, standards
The why we are here
M/V/V are the core
5 step process - mission statement should answer what questions
What needs does the entity address (purpose)
What does the entity do to address these needs (business)
What principles or beliefs guide the entities work (values)
5 step process - vision statement is what
Focus on the what of your business
Something to strive to achieve
Inspire members to work to capacity toward desirable future position
Energizes
More futuristic, something to strive for (Just do it)
5 step process - what are the values
The actions of how we will do it - leadership, integrity…
5 step process - step 2 is what
Sources of input - SWOT
Analysis of internal and external environment
5 step process - step 2 - SWOT is what
Strengths
Weaknesses
Opportunities
Threats
And the company/mission in the middle
5 step process - step 2 - SWOT- Strengths
what is going well, what is working, maybe good financials
5 step process - step 2 - SWOT- Weaknesses
what is not working well, we have high turnover maybe, missed appointments, high no show rate
5 step process - step 2 - SWOT- Opportunities
things you want to use your strengths with and strive to get the opportunities - maybe a new line of business
5 step process - step 2 - SWOT - threats
these are usually things from the environment that are impacting your organization, not usually very controllable - legal
5 step process - step 3 is what
Identifying a direction
- Strategic objectives: identified achievable accomplishments (the bid audacious goal)
- Strategies: identified goals to achieve the accomplishments (SMART goals)
- Tactics: responsibilities, timeline (action plan)
Take the SWOT and start to build a direction
5 step processes - step 4 is what
methods of deployment
Able to communicate and execute the plan that was developed
3 ways to implement - Management by objective, Hoshin Kanri, Balanced score card
5 step processes - step 4 option 1 - Management by objective
Cascading of organizational goals and objectives
Specific objectives for each member
Performance evaluation and provide feedback
Start to paint the picture of what each level is responsible for and how they will be rewarded for doing it
5 step processes - step 4 option 1 - Features of Management by objective
Motivation
Better communication and coordination
Clarity of goals
5 step processes - step 4 option 1 - Features of Management by objective - SMART goals are what
Specific Measurable Achievable Relevant to goal Time element
5 step processes - step 4 option 2 - Hoshin Kanri
Not common in health care
Application of Deming’s plan-do-check-act
what is current state, what will we do - check on it, then act –> this is more of a team based approached
Ability to develop some of the action plans more on the fly
5 step processes - step 4 option 2 - Hoshin Kanri - purpose of usage
Long term strategic planning for systems
Developing shared strategic goals
Continuous organizational improvement
Cascading or deploying top management policies and targets down the hierarchy
5 step processes - step 4 option 3 - Balanced score card
View from 4 perspectives Develop metrics Collect data Analyze data to each perspective Cycle of improvement Need a balance of all those
Not one that weight more than the other
There is balance
Idea of this is to keep the 4 components ($, pt, growth of company, quality) all equal and in balance
5 step processes - step 5 - plan evaluation
Assessment of needs
Based on new inputs or results
Objectives and actions - maintenance, change, growth, termination
Come back and evaluate it - did we meet the goals and do what we needed to do
Strategic planning is a tool to improve performance of organization - you need to assess
the environment
use the info to set direction
develop action plan
monitor and meas progress
