Developing A Strategic Plan Essay Discussion Paper.docx
1. Developing A Strategic Plan Essay Discussion Paper
Developing A Strategic Plan Essay Discussion PaperThe major objective of the proposed
logistics firm is to provide transport services that supplement those offered by medical
facilities. It acknowledges the fact that logistics challenges exist within the health industry.
As a result, the firm intends to offer transportation vans that would help in the timely
movement of patients to and from medical facilities. To facilitate evaluation of the firm, its
intention has been decomposed into four perspectives that include customer, innovation
and learning, financial, and internal business perspectives Developing A Strategic Plan
Essay Discussion Paper.ORDER YOUR PAPER HEREThe first perspective is the customer
perspective. The firm’s goals are to create a partnership with customers, present responsive
transport, and be the preferred transporter. These goals will be evaluated through four
measures. The first measure is to have five cooperative transport efforts with medical
facilities within the state to be realized within the first six months of operations. The second
measure is to be ranked within the top five medical transportation companies within the
state to be realized in 18 months. The third measure is to have on-time delivery as
positively defined by 95% of the customers within six months of operations. The final
measure is to realize 75% customer satisfaction by the end of the first year of business (see
table 1). The four measures are intended to evaluate the potential for customers to conduct
repeat business with the firm. Although it indicates the potential for repeat business, it
should be considered alongside income and profits when assessing the quality of services
provided by the firm. It is important to note that this perspective recognizes the increasing
importance of customers and the need to satisfy them to ensure business success. With this
in mind, the business model includes indicators of customer satisfaction with the awareness
that failing to satisfy the customers will cause them to switch companies to others who are
able to meet their needs. As such, good performance within the customer perspective will
act as an indicator that the company has a good future, while poor performance in the
customer perspective will act as an indicator that decline is likely to occur in the future
(Fields & Cohen, 2011) Developing A Strategic Plan Essay Discussion Paper.The second
perspective is the innovation and learning perspective. The firm’s goal is to ensure that its
drivers have a medical background and can address some of the patients’ basic health needs
during transportation to alleviate their condition. This goal will be addressed through train
all the four drivers to enable them handle basic medical emergencies within eight months.
While this is intended to enable the drivers improve service delivery to patients who use
the firm’s services, it does not replace the need for medical personnel during the
2. transportation. At the end of the eight months, the drivers who undergo the training will
complete a basic proficiency test on handling medical emergencies during transportation.
The achievement of this objective will be based on the drivers’ performance in the basic
proficiency test with a pass considered successful achievement (see table 1). This
perspective makes provisions for personnel training that is geared towards improving
performance. This is based on the understanding that personnel are the most important
knowledge repository. In addition, the model includes a matrix that aids the management in
allocating funds towards training activities that are anticipated to result in the most benefit
for the business. In any case, learning constitutes the foundation for success for any
business entity that anticipates to grow and succeed. It is important to note that training is
only one aspect of learning, which will include other aspects such as technical tools
(computer systems), tutors and mentors, as well as facilitating good communication that
allows personnel to get aid whenever problems arise (Kollberg & Elg, 2011)Developing A
Strategic Plan Essay Discussion Paper.The third perspective is the financial perspective. The
firm has three goals that include survival, success and prosperity. The achievement of this
goals will be evaluated through three measures. The first measure is increased cash flow
whereby the earnings should exceed $250,000 in the first year of operation. This is based on
the assumption that approximately 30 clients will be handled in two trips every week to
imply that 60 trips will be made every week. At an approximate cost of $100 for every trip,
it is anticipated that the firm will earn $312,857.71 at the end of the year ($100X60X365/7).
The second measure is to have the annual sales and operating income experience an annual
growth of at least 7% from the second year of operation. The third measure is to increase
market share by increasing the number of patients handled every year by at least 10% (see
table 1). This perspective reinforces the need for traditional financial data in evaluating the
performance of any business entity. The business model recognizes that accurate and timely
financial data is always a priority, making it clear that this need cannot be overemphasized
and adding that there can never be enough processing and handling of data of any kind. The
point is that the financial perspective has been given the same emphasis as the other three
perspectives to result in a balanced situation, although there are situations when the
financial perspective will be overemphasized, particularly when analyzing cost benefits and
risk assessment (Sare & Ogilvie, 2010)Developing A Strategic Plan Essay Discussion
Paper.ORDER YOUR PAPER HEREThe final perspective is the internal business perspective.
The firm has four goals concerning this perspective to include business capability,
operational excellence, productivity, and introduction of new services. This goals will be
evaluated through four measures. The first measure is to compare the firm’s performance
against the competition in terms of the number of customers handled and earnings. The
intention is to be comparable to the top five transportation firms operating in the state
within five years. The second measure is to optimize unit costs and cycle times through
reporting improvements every quarter. The third measure is to improve efficiency and
make the firm more productive by having each van handle a larger number of patients every
month. The final measure is the introduction of new services by matching the business plan
to the actual schedule (see table 1). The measures presented in this perspective will allow
the managing personnel to know how well the business is being run, and whether it is in
3. line with the mission and vision stated in the business model. It evaluates whether the
transport services offered by the firm conform to what it promised to provide and what the
market expects (Jeffs et al., 2011; Groene et al., 2009). In this respect, the balanced
scorecard will be applied to evaluate the success factor of the proposed business model
with regards to the four business goals that are intended to be achieved Developing A
Strategic Plan Essay Discussion Paper.Table 1. Balanced business scorecardPerspective
Goals MeasuresFinancial · Survival· Success· Prosperity · Increased
cash flow whereby the earnings should exceed $250,000 in the first year of
operation· Annual sales and operating income experience an annual growth of at least 7%
from the second year of operation· Increase market share by increasing the number of
patients handled every year by at least 10%Customer· Create a partnership with
customers· Present responsive transportation· Become the preferred transporter · Five
cooperative transport efforts with medical facilities within the state realized within six
months of operations· Ranked within the top five medical transportation companies within
the state to be realized in 18 months· On-time delivery as positively defined by 95% of the
customers within six months of operations· Realize 75% customer satisfaction by the end
of the first year of businessInternal business · Business capability· Operational
excellence· Busing productivity· Introduction of new services · Compare the firm’s
performance against the competition in terms of the number of customers handled and
earnings, and ensure that performance is among top five transportation firms in the state
within four years· Optimize unit costs and cycle times through reporting improvements
every quarter· Improve efficiency and make the firm more productive by having each van
handle a larger number of patients every month· Introduce new services by matching the
business plan to the actual scheduleInnovation and learning · Train all the four drivers to
enable them handle basic medical emergencies within eight months · Complete a basic
proficiency test on handling medical emergencies during transportation ReferencesFields, S.
& Cohen, D. (2011). Performance enhancement using a balanced scorecard in a patient-
centered medical home. Family Medicine, 43(10), 735-739.Groene, O., Brandt, E., Schmidt,
W. & Moeller, J. (2009). The balanced scorecard of acute settings: development process,
definition of 20 strategic objectives and implementation. International Journal for Quality in
Health Care, 21(4), 259-271.Jeffs, L., Merkley, J., Richardson, S., Eli, J. & McAllister, M. (2011).
Using a nursing balanced scorecard approach to measure and optimize nursing
performance. Nursing Leadership, 24(1), 47–58. Developing A Strategic Plan Essay
Discussion PaperKollberg, B. & Elg, M. (2011). The practice of the balanced scorecard in
health care services. International Journal of Productivity and Performance Management,
60(5), 427-445.Sare, M. & Ogilvie, L. (2010). Strategic planning for nurses: change
management in health care. Sudbury, MA: Jones and Bartlett.My topic is creating a Medical
Transportation business. Section 3: Balanced ScorecardAs you continue to develop your
Course Project, it is important to consider how to evaluate the effects of your planned
change on performance. Based on the work you have done thus far on your Course Project,
this week you create a balanced scorecard.To prepare:Your balanced scorecard is one tool
you can use to evaluate the effects of your planned change on performance.To
complete:Create a balanced scorecard that could be used to measure and evaluate the
4. impact of your planned change on performance, and determine if the costs are justified in
terms of the outcomes.Include what you would measure in terms of finances, customers,
internal process, and learning and growth.To prepare: Developing A Strategic Plan Essay
Discussion PaperReview your work on the summary of the issue and SWOT analysis from
previous weeks.Review the information about and examples of balanced scorecards
presented by Dr. Carol Huston in this week’s media program and in the other Learning
Resources. Conduct additional research to see additional examples of balanced scorecards
and to deepen your understanding of how balanced scorecards are used in various
organizations.Reflect on the comments related to balanced scorecards exchanged in this
week’s Discussion.Conceptualize a balanced scorecard that could be used to measure and
evaluate the impact of your planned change on performance, and determine if the costs are
justified in terms of the outcomes. Consider what you would measure in terms of finances,
customers, internal process, and learning and growth.Think about how you would gather
valid and reliable data.Begin to create your balanced scorecard, which will be submitted
next week.ORDER YOUR PAPER HERERequired ReadingsSare, M. V., & Ogilvie, L.
(2010). Strategic planning for nurses: Change management in health care. Sudbury, MA:
Jones and Bartlett.Chapter 8, “Overview of Strategic Planning Theories: Strategic Planning
Architecture” (pp. 147–166)Fields, S. A., & Cohen, D. (2011). Performance enhancement
using a balanced scorecard in a patient-centered medical home. Family Medicine, 43(10),
735–739.Copyright 2011 by Society of Teachers of Family Medicine. Reprinted by
permission of Society of Teachers of Family Medicine via the Copyright Clearance
Center.The authors discuss using a balanced scorecard for quality improvement in patient-
centered medical homes.Groene, O., Brandt, E., Schmidt, W., & Moeller, J. (Aug 2009). The
balanced scorecard of acute settings: Development process, definition of 20 strategic
objectives and implementation.International Journal for Quality in Health Care, 21(4), 259–
271.Copyright 2009 by Oxford University Press - Journals. Reprinted by permission
of Oxford University Press - Journals via the Copyright Clearance Center. In this article, the
authors discuss the use of a balanced scorecard as a tool for strategic planning in hospitals.
The article includes an example of a strategy map, timeline, and balanced scorecard.Jeffs, L.,
Merkley, J., Richardson, S., Eli, J., & McAllister, M. (2011). Using a nursing balanced scorecard
approach to measure and optimize nursing performance. Nursing Leadership, 24(1), 47–
58.Copyright 2011 by Longwoods Publishing Corporation. Reprinted by permission
of Longwoods Publishing Corporation via the Copyright Clearance Center.Kollberg, B., & Elg,
M. (2011). The practice of the balanced scorecard in health care services.International
Journal of Productivity and Performance Management, 60(5), 427–445.Retrieved from the
Walden Library databases. The authors look at the use of a balanced scorecard for health
care performance management in Sweden.Lupi, S., Verzola, A., Carandina, G., Salani, M.,
Antonioli, P., & Gregorio, P. (2011). Multidimensional evaluation of performance with
experimental application of balanced scorecard: A two year experience. Cost Effectiveness
and Resource Allocation, 9(1), 7.Retrieved from the Walden Library databases.This article
examines the application of a balanced scorecard within a unit in a hospital to compare
performance results and goal achievement.Balanced Scorecard Institute. (2013). Balanced
scorecard basics. Retrieved
5. fromhttp://www.balancedscorecard.org/BSCResources/AbouttheBalancedScorecard/tabid
/55/Default.aspxView the information on this website to learn about balanced
scorecards.Mountain State Group. (n.d.) Balanced scorecards for small rural hospitals:
Concept overview and implementation guidance. Retrieved March 13, 2013,
fromhttp://www.ruralcenter.org/sites/default/files/Final%20BSC%20Manual%2010.18F.
pdfThe Scarborough Hospital. (2013). Balanced scorecard. Retrieved from
http://tsh.to/pages/Balanced-Score-Card This website provides an example of a balanced
scorecard.Sunnybrook Health Sciences Centre. (2013). Balanced scorecard. Retrieved
fromhttp://sunnybrook.ca/scorecard/index.asp#srThis website provides an example of a
balanced scorecard.My topic for the course project is creating a Medical Transportation
business. PLEASE SUBMIT 2 DOCUMENTS. PART 1 IN ONE DOCUMENT AND PART 2 IN
ANOTHER DOCUMENT. Part 1: Balanced Scorecard As you continue to develop your Course
Project, it is important to consider how to evaluate the effects of your planned change on
performance. Based on the work you have done thus far on your Course Project, this week
you create a balanced scorecard. To prepare: Your balanced scorecard is one tool you can
use to evaluate the effects of your planned change on performance. To complete: • Create a
balanced scorecard that could be used to measure and evaluate the impact of your planned
change on performance, and determine if the costs are justified in terms of the outcomes. •
Include what you would measure in terms of finances, customers, internal process, and
learning and growth. To prepare: • Review your work on the summary of the issue and
SWOT analysis from previous weeks. • Review the information about and examples of
balanced scorecards presented by Dr. Carol Huston in this week’s media program and in the
other Learning Resources. Conduct additional research to see additional examples of
balanced scorecards and to deepen your understanding of how balanced scorecards are
used in various organizations. • Reflect on the comments related to balanced scorecards
exchanged in this week’s Discussion. • Conceptualize a balanced scorecard that could be
used to measure and evaluate the impact of your planned change on performance, and
determine if the costs are justified in terms of the outcomes. Consider what you would
measure in terms of finances, customers, internal process, and learning and growth. • Think
about how you would gather valid and reliable data. • Begin to create your balanced
scorecard, which will be submitted next week. Required Readings Sare, M. V., & Ogilvie, L.
(2010). Strategic planning for nurses: Change management in health care. Sudbury, MA:
Jones and Bartlett. • Chapter 8, “Overview of Strategic Planning Theories: Strategic Planning
Architecture” (pp. 147–166) Fields, S. A., & Cohen, D. (2011). Performance enhancement
using a balanced scorecard in a patient-centered medical home. Family Medicine, 43(10),
735–739. Copyright 2011 by Society of Teachers of Family Medicine. Reprinted by
permission of Society of Teachers of Family Medicine via the Copyright Clearance Center.
The authors discuss using a balanced scorecard for quality improvement in patient-
centered medical homes. Groene, O., Brandt, E., Schmidt, W., & Moeller, J. (Aug 2009). The
balanced scorecard of acute settings: Development process, definition of 20 strategic
objectives and implementation.International Journal for Quality in Health Care, 21(4), 259–
271. Copyright 2009 by Oxford University Press - Journals. Reprinted by permission of
Oxford University Press - Journals via the Copyright Clearance Center. In this article, the
6. authors discuss the use of a balanced scorecard as a tool for strategic planning in hospitals.
The article includes an example of a strategy map, timeline, and balanced scorecard. Jeffs, L.,
Merkley, J., Richardson, S., Eli, J., & McAllister, M. (2011). Using a nursing balanced scorecard
approach to measure and optimize nursing performance. Nursing Leadership, 24(1), 47–58.
Copyright 2011 by Longwoods Publishing Corporation. Reprinted by permission of
Longwoods Publishing Corporation via the Copyright Clearance Center. Kollberg, B., & Elg,
M. (2011). The practice of the balanced scorecard in health care services.International
Journal of Productivity and Performance Management, 60(5), 427–445. Retrieved from the
Walden Library databases. The authors look at the use of a balanced scorecard for health
care performance management in Sweden. Lupi, S., Verzola, A., Carandina, G., Salani, M.,
Antonioli, P., & Gregorio, P. (2011). Multidimensional evaluation of performance with
experimental application of balanced scorecard: A two year experience. Cost Effectiveness
and Resource Allocation, 9(1), 7. Retrieved from the Walden Library databases. This article
examines the application of a balanced scorecard within a unit in a hospital to compare
performance results and goal achievement. Balanced Scorecard Institute. (2013). Balanced
scorecard basics. Retrieved
fromhttp://www.balancedscorecard.org/BSCResources/AbouttheBalancedScorecard/tabid
/55/Default.aspx View the information on this website to learn about balanced scorecards.
Mountain State Group. (n.d.) Balanced scorecards for small rural hospitals: Concept
overview and implementation guidance. Retrieved March 13, 2013,
fromhttp://www.ruralcenter.org/sites/default/files/Final%20BSC%20Manual%2010.18F.
pdf The Scarborough Hospital. (2013). Balanced scorecard. Retrieved from
http://tsh.to/pages/Balanced-Score-Card This website provides an example of a balanced
scorecard. Sunnybrook Health Sciences Centre. (2013). Balanced scorecard. Retrieved
fromhttp://sunnybrook.ca/scorecard/index.asp#sr This website provides an example of a
balanced scorecard. Part 2: Budgeting and Timeline Tools As you have been examining this
week, budgeting and timeline tools are vital for determining necessary resources and
planning for a proposed change. For your Course Project, you use these types of tools to
assess resources that may be required for the successful implementation of your strategic
plan. To prepare: • Review the information on budgeting in this week’s Learning Resources.
Which tools (e.g., Revenue Projection Model, Capital Budgeting Analysis, Depreciation
Calculator, Profit and Loss Projection) would be most useful for developing your strategic
plan? • Use one or more budgeting tools to outline the financial resources for your proposed
change. Reflect on any challenges that arise as you evaluate the financial resources required
for this change now and in the future. • Review the information on PERT and other timeline
tools in this week’s Learning Resources, including Dr. Huston’s presentation in the media
program. • Use PERT or another tool to analyze and represent the activities that need to be
completed to successfully plan and implement your proposed change. Be sure to note
dependencies (e.g., a task/milestone that must be completed in order to trigger the next
step) and realistically assess the minimum time needed to complete the entire project. To
complete: • Outline the financial resources for your proposed change. Describe the
budgeting tool(s) you used to arrive at these determinations. Explain what challenges, if
any, you encountered through the budgeting process. Provide documentation (e.g., Excel
7. worksheets) to support your analysis. • Outline the timeline for the implementation of your
proposed change using PERT or another timeline tool. Consider how your timeline can
allow leeway for variance. Developing A Strategic Plan Essay Discussion Paper