MHA-FPX5010 MichelleSmith Assessment 4: Strategic Plan Objectives and Balanced Scorecard Example PPT Notes
Strategic Plan Objectives and Balanced Scorecard
Slide 1
Dictational strategies are vital in informing organizational decisions and directing efforts. Improving their alignment with the strategic plan helps organizations direct efforts and resources toward goal/objective achievement. The improved mission statement is “making God’s healing presence known worldwide by improving patients’ health, especially the vulnerable, and advancing social justice.”
Assessment_4_Instructions__Strategic_Plan_Objectives
The improved vision is “to promote A healthier future for all through improved care quality, healthcare infrastructure, and patient safety, inspired by faith, powered by humanity, and driven by innovation by the year 2030.” The improved values statement is “St. Vincent Healthcare facility is committed to becoming Centerpiece for managing and monitoring performance, Compassion, Inclusion, Integrity, Collaboration, and Excellence.” These improvements will improve the overall organizational performance.
Slide 2
The organization needs to have unidirectional leadership from the directional strategies that must be addressed. Customer satisfaction rates are lower than expected, and there is a need to improve their satisfaction. Infrastructure to gather and report satisfaction and other factors, such as the most underperforming benchmarks, is critical. The organization’s leadership has a traditional style that hinders organizational success. With the introduction of new roles, such as informatics and innovative nurses, the matrix method will enhance organizational success through improved care coordination, innovation promotion, and continuous organizational improvement. These four areas are focused on organizational improvement strategies.
Slide 3
The first strategy is “Improve healthcare technology availability and utilization in the healthcare facility in the next two years.” The strategy is fitted with a 2-your evaluation time, and the objectives back the evaluation metrics. Tavakoli et al. (2020) note that healthcare technologies are linked to improved patient care outcomes through improved/ prompt communication, consultation, and care coordination. Technologies such as healthcare dashboards help healthcare organizations improve their care quality by providing performance data compared to other organizations and the nationally set guidelines.
Konttila et al. (2019) note that healthcare staff requires extensive education in healthcare technologies to increase their utilization, hence quality outcomes. Staff education on innovation significance and implementation will increase their effort toward healthcare improvement and promote continuous improvement. These objectives will lead to improved technological innovations (availability) and utilization in St. Vincent Medical Center.
Slide 5
This strategy, improving organizational leadership to enhance collaboration and teamwork in the facility, will focus on ensuring major changes in the organizational structure to influence the achievement of organizational goals and objectives. Figueroa et al. (2019) note that establishing a strong leadership system and strategy is critical to the success of healthcare projects.
The specific objectives will include increasing leadership to facilitate role changes, revisiting and rewriting the roles and responsibilities of leaders, and increasing access to organizational resources and communication of role expectations. These interventions all target the facilitation of role change from the traditional leadership styles to matric organizational style, which emphasizes interdepartmental dependence and collaboration.
Slide 6
The last strategy is to improve institutional-community engagement, aiming to create an enabling social environment for the healthcare facility. The first objective is community assessment to determine the community’s needs to assist the organization in planning to meet them. Burgess et al. (2021) state facilities assess community needs and remedy them according to their capacity. For example, the facility can implement interventions such as screening and referral of COVID-19 patients during an outbreak.
The second objective is to collaborate, through funding, with vulnerable community groups such as the homeless and needy members to increase their access to care. The objective will eliminate discrimination and enhance care equity in the community, fostering good relations with community members. The second objective is to identify ongoing/ stuck community activities such as water supply and garbage collection projects that can benefit from healthcare organizations’ inputs: financial or leadership.
Slide 7
A balanced scorecard is an integral tool in aligning strategic plans and the four components of the scorecard and attaching them with critical indicators for their management. Critical Success Indicators are metrics/parameters that will indicate the achievement of an achievement.
Slide 8
The balanced scorecard helps identify the organization’s areas of improvement and the development of evidence-based interventions to promote quality outcomes. These strategies align with the balanced scorecard. There are various projected outcomes and critical success indicators. The critical success indicators indicated in this scorecard in the initiatives section will help showcase the success of the interventions. They are the specific factors for the evaluation of the interventions.
Bohm et al. (2021) note that the specific measures presented are the desired outcomes, while the initiatives are the critical success indicators that will show the process or journey to achieving the desired outcomes has begun. These include improved staff continuous education programs, the development of patient self-reported technology embedded in health information technologies, an enlarged customer base, and a healthcare dashboard. They will help evaluate success in learning and growth, customer, finance, and business processes domains.
Slide 9
The proposed strategic plan will incorporate several strategies and objectives. The recommended strategic plan aims to improve care quality, promote safety, and enlarge the customer base by the end of the year. The specific objectives will facilitate the strategy’s implementation. The first objective is to enhance the development of an organizational strategy during discharge, making patients report self-reported and satisfaction scores mandatory.
Hemadeh et al. (2021) note that patient satisfaction. The next objective will be social marketing to increase the financial base by improving the customer base. The facility requires finances for its improvement. Increasing service delivery through social marketing and advertising is one of the strategies to ensure its services are known and thus utilized. A healthcare dashboard will help with data collection and analysis for the safety and quality metrics from national agencies such as the agency for healthcare research and quality (AHRQ).
Slide 10
Overall, the directional changes and the strategic plan align. In addition, the proposed new strategic plan will benefit from the amalgamation of all the directional and directional strategies. The organization should evaluate, consider, and adopt the proposed directional strategies to guide strategic improvement in the healthcare facility. Aligning directional strategies and strategic management produces quality outcomes and increases organizational success.
MHA-FPX5010 MichelleSmith Assessment 4: Strategic Plan Objectives and Balanced Scorecard References
- Bohm, V., Lacaille, D., Spencer, N., & Barber, C. E. (2021). Scoping review of balanced scorecards for use in healthcare settings: development and implementation. BMJ Open Quality, 10(3), e001293. http://dx.doi.org/10.1136/bmjoq-2020-001293
- Burgess, R. A., Osborne, R. H., Yongabi, K. A., Greenhalgh, T., Gurdasani, D., Kang, G., Falade, A. G., Odone, A., Busse, R., Martin-Moreno, J. M., Reicher, S., & McKee, M. (2021). The COVID-19 vaccines rush: participatory community engagement matters more than ever. The Lancet, 397(10268), 8-10. https://doi.org/10.1016/S0140-6736(20)32642-8
- Figueroa, C. A., Harrison, R., Chauhan, A., & Meyer, L. (2019). Priorities and challenges for health leadership and workforce management globally: a rapid review. BMC health services research, 19(1), 1-11. https://doi.org/10.1186/s12913-019-4080-7
- Hemadeh, R., Hammoud, R., Kdouh, O., Jaber, T., & Ammar, L. (2019). Patient satisfaction with primary healthcare services in Lebanon. The international journal of health planning and management, 34(1), e423-e435. https://doi.org/10.1002/hpm.2659
- Khansari, S. M., Arbabi, F., Moazen Jamshidi, M. H., Soleimani, M., & Ebrahimi, P. (2022). Health Services and Patient Satisfaction in IRAN during the COVID-19 Pandemic: A Methodology Based on Analytic Hierarchy Process and Artificial Neural Network. Journal of Risk and Financial Management, 15(7), 288. https://doi.org/10.3390/jrfm15070288
- Konttila, J., Siira, H., Kyngäs, H., Lahtinen, M., Elo, S., Kääriäinen, M., Kaakinen, P., Oikarinen, A., Yamakawa, M., Fukui, S., Utsumi, M., Higami, Y., Higuchi, A., & Mikkonen, K. (2019). Healthcare professionals’ competence in digitalization: A systematic review. Journal of clinical nursing, 28(5-6), 745-761. https://doi.org/10.1111/jocn.14710
- Salman, A., & Lee, Y. H. (2019). Spiritual practices and effects of spiritual well-being and depression on elders’ self-perceived health. Applied Nursing Research, 48, 68-74. https://doi.org/10.1016/j.apnr.2019.05.018
- Tavakoli, M., Carriere, J., & Torabi, A. (2020). Robotics, smart wearable technologies, and autonomous intelligent systems for healthcare during the COVID‐19 pandemic: An analysis of the state of the art and future vision. Advanced Intelligent Systems, 2(7), 2000071. https://doi.org/10.1002/aisy.202000071
MHA-FPX5010 MichelleSmith Assessment 4 Instructions: Strategic Plan Objectives and Balanced Scorecard
Overview
Develop and record a 10–12-slide, executive-level presentation, with speaker notes, of the SMART objectives corresponding to the organization’s main strategies, associated performance indicators and metrics, and strategic plan recommendations.
Note: Each assessment in this course builds upon the work you have completed in previous assessments. Therefore, you must complete the assessments in the order in which they are presented.
Assignment Instruction
Note: Complete the assessments in this course in the order in which they are presented.
Preparation
To prepare for the assessment, begin by reviewing your four recommended strategies. Then, using the SMART Objective Setting Guide, linked in the Resources, create a minimum of three SMART objectives for each strategy. These objectives will become the basis of your presentation and will ultimately help the organization achieve the strategic direction you have recommended.
In addition, you may wish to review the assessment instructions and scoring guide to ensure that you understand the work you will be asked to complete.
Note: Remember that you can submit all, or a portion of, your draft presentation to Smarthinking Tutoring for feedback before you submit the final version for this assessment. If you plan on using this free service, be mindful of the turnaround time of 24–48 hours for receiving feedback.
Recording Equipment Setup and Testing
Check that your recording equipment and software is working properly, that your audio recording quality is sufficient, and that you know how to record and upload your presentation. You may use Kaltura Media or other technology of your choice for your audio recording. You may also add audio directly to your slides, using PowerPoint or other presentation software.
- If using Kaltura Media, refer to the Using Kaltura tutorial for directions on recording and uploading your video in the courseroom.
Note: If you require the use of assistive technology or alternative communication methods to participate in this activity, please contact DisabilityServices@capella.edu to request accommodations.
Scenario
In your weekly one-on-one meeting your boss congratulates you on the comprehensive and well researched work you’ve done to date. The CEO has been working with the rest of the organization’s leadership team to adopt the overarching strategies for the organization that your boss recommended. However, your boss and CEO are seeking clarification on how to translate these strategies into meaningful benchmarks, or performance measures. They want to know how the organization will measure progress in following these strategies. In previous discussions with your boss, you have been describing the SMART methodology for writing objectives that support the overarching strategies. She has asked you to share the SMART objectives you have written for each strategy with the CEO in a brief presentation.
You are ready to begin creating your presentation and the slides that you will use to support your key points and conclusions. Your boss reminds you that the CEO expects a brief, substantive, and concise presentation. You will be lucky to get 15 minutes of the CEO’s time. Consequently, she suggests that you include no more than 10–12 slides, or you will run out of time and cautions you about not creating a “death by PowerPoint” experience for the CEO. You already know from experience that your organization expects professional presentations that adhere to the organization’s branding standards.
Requirements
Create an executive-level presentation, with voiceover, of the SMART objectives that correspond to the organization’s main strategies, associated performance indicators and metrics, and strategic plan recommendations.
Practice your presentation until you are satisfied with it, staying as close as possible to the limited time allotted. Remember that the audience is your organization’s CEO. All the work you have done so far in this course has prepared you for this briefing, but you are ready.
Also Read: MHA-FPX5010 MichelleSmith Assessment 1 Current Environmental Analysis