Nursing Business Strategic Planning.
Nursing Business Strategic Planning.
Course Project: Developing a Strategic Plan 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 Nursing Business Strategic Planning. 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:
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• 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 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) Nursing Business Strategic Planning.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 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 Nursing Business Strategic Planning.