2. Where to Begin
Like all businesses, medical practices should develop
an annual business plan. Along with goals for
growth,
Typically, the annual plan focuses on reviewing the
current year and projecting operations into the next
period. Strategic planning includes the basic
components of the annual plan, but also includes
goals that go well beyond the next year.
3. Some definitions of
Strategic Planning
Doing Things On Purpose, For Good Reason, and
With Good Information
Strategic planning is a “Systematic process of
envisioning a desired future and translating this
vision into broadly defined goals or objectives and
a sequence of steps to achieve them.”
(www.BusinessDictionary.com)
4. Cont…
Strategic planning is a visionary process that
results in major, long-range and far-reaching
strategic directions or goals for the future
Strategic plans provide the foundation for
operational planning in the form of policies,
procedures, and strategies for obtaining and using
resources to achieve those directions
5. What is Strategic Planning?
“Strategic planning is a formal process designed to help
an organization maintain an optimal alignment with the
most important elements of its environment” (Rowley,
Lujan, & Dolence, 1997, p. 15).
The strategic planning process supplies the organization
with tools that promote future thinking, applies the
systems approach, allows for setting goals and strategies,
provides a common framework for decisions and
communications, and relies on measuring performance
(Steiner, 1979).
6. Why do Strategic Planning?
If you fail to plan, then you plan to fail – be
proactive
about the future
Strategic planning improves performance
Counter excessive inward and short-term thinking
Solve major issues at a macro level
Communicate to everyone what is most important
7. Strategic Planning Session
An interactive planning session through open
discussion, consensus and commitment to a course of
action to achieve desired outcomes.
The next step is to identify where the practice is today.
Once the current situation is summarized, the practice
can develop its vision for the future. This last phase of the
planning retreat includes development of goals,
objectives, strategies and action plans.
8. How to proceed?
Strategic planning begins with a work session
involving physicians as well as top managers.
An independent, experienced and knowledgeable
facilitator should be selected by the practice to
guide the process to ensure impartiality and
inclusiveness.
comparative analysis
9. Put the strategic plan in writing so there is a
blueprint for implementation and
monitoring. It is important to include each
of these elements:
• Introduction — mission statement
• Practice summary — current situation analysis
• Vision for the practice and practice goals
• Strategies and objectives
• Assignment of responsibility and monitoring and
evaluation techniques
11. 8
Matt H. Evans, matt@exinfm.com
Strategic Planning Model
A B C D E
• Environmental Scan
Assessment
• Background
Information
• Situational Analysis
• SWOT – Strength’s,
Weaknesses,
Opportunities,
Threats
• Situation – Past,
Present and Future
• Significant Issues
• Align / Fit with
Capabilities
• Mission & Vision
• Values / Guiding
Principles
• Major Goals
• Specific Objectives
• Performance
Measurement
• Targets / Standards of
Performance
• Initiatives and
Projects
Baseline Components
• Performance
Management
• Review Progress –
Balanced Scorecard
• Take Corrective
Actions
Down to
Specifics
Evaluate
Where we are Where we want to be How we will do it How are we doing
• Gaps • Action Plans • Feedback upstream –
revise plans
12. 11
Matt H. Evans, matt@exinfm.com
Assessment Model:
S W O T
Assessment
External Assessment: Marketplace,
competitor’s, social trends, technology,
regulatory environment, economic cycles .
Internal Assessment: Organizational
assets, resources, people, culture,
systems, partnerships, suppliers, . . .
• Easy to Understand
• Apply at any
organizational level
• Needs to be
Analytical and
Specific
• Be honest about your
weaknesses
Good Points Possible Pitfalls
SWOT SWOT
13. Strategic Management: PEST
Analysis
A scan of the external macro-
environment in which the firm
operates can be expressed in
terms of the following factors:
Political
Economic
Social
Technological
14. Baseline
Why create a baseline?
Puts everything about the organization into a
single context for comparability and planning
Descriptive about the organization, as well as the
overall environment
Include information about relationships –
customers, suppliers, partners and stakeholders
Preferred format is the Organizational Profile
15. 23
Matt H. Evans, matt@exinfm.com
Major Components of the
Strategic Plan / Down to Action
Components
Mission
Vision
Goals
Objectives
Measures
Why we exist
What we want to be
Indicators and
Monitors of success
Desired level of
performance and
timelines
Planned Actions to
Achieve Objectives
O1 O2
AI1 AI2 AI3
M1 M2 M3
T1 T1 T1
Specific outcomes expressed in
measurable terms (NOT activities)
Strategic Plan
Action Plans
Evaluate Progress
Targets
Initiatives
What we must achieve to be successful
16. Mission & Vision Statements
Mission
Captures the essence of why the organization exists –
Who we are, what we do
Explains the basic needs that you fulfill
Expresses the core values of the organization
Vision
How the organization wants to be perceived in the
future
An expression of the desired end state, a long-term
focus for the entire organization
17. Core Values & Goals
Core Values
Provides an underlying framework for making decisions
– part of the organization’s culture often rooted in
ethical themes.
Goals
A goal is a specific statement of the desired results to be
achieved over a specified period of time. They shapes
the way ahead in actionable terms.
19. Objectives
Tasks/Actions to be achieved
An objective is a measurable statement or incremental
milestone which specifies a change or benefit that the
entity hopes to achieve as it strives to achieve a specific
goal.
May need several objectives to meet a goal
Objectives should be S M A R T
(S – Simple, M – Measurable, A – Attainable, R – Realistic, T – Time
bounded)
20. Action Plans & Initiatives?
The Action Plan identifies the specific steps that will be
taken to achieve the initiatives and strategic objectives
Each Initiative has a supporting Action Plan(s) attached to it
They describe who does what, when it will be completed, and
how the organization knows when steps are completed
Like Initiatives, Action Plans require the monitoring of
progress on Objectives, for which measures are needed
21. Policy & Procedures
Policy: (Any decision or rule to a specific issue)
A policy enables or restricts actions, providing specific
information about the ends, the entity desires to
achieve. It is a direction for the leadership and staff .
Procedure (A methodology or pathway)
Procedures specify how to accomplish any policy. It is
a set of activities which are aimed at planned outputs.
22. What Resources?
How to Link?
Every Action Plan should identify the following:
The human resources needed to succeed
The time resources needed to succeed
The financial resources needed to succeed
The physical resources (facilities, technology, etc.)
needed to succeed
24. Strategy Evaluation
The implementation of the strategy must be monitored and
adjusted as needed.
Evaluation and control consists of the following steps:
Define parameters to be measured
Define target values for those parameters
Perform measurements
Compare measured results to the pre-defined standard
Make necessary changes
25. Criteria for Good Evaluation
Integrity
Reliability
Accuracy
Timeliness
Confidentiality & Security
Suitability
Feasibility
Acceptability
• For each measurement, you should have at least one target
• When you reach your targets, you have
successfully executed your strategy
Targets (The aim for the period)
26. Continuous Feedback
through the Balanced Scorecard
Use of Balanced Scorecard framework to organize and
report actionable components.
Scorecard is used for managing the execution of
strategies.
Scorecard “forces” us to look at different perspectives
and take into account cause-effect relationships.
It improves how you communicate strategies.
27. 51www.studyMarketing.org
Continuous Improvement
Instituting
best practices
and
commitment
to continuous
improvement
• Competent strategy execution entails
visible, unyielding managerial commitment
to best practices and continuous
improvement.
• Benchmarking, the discovery and
adoption of best practices, and six sigma
initiatives all aim at improved efficiency,
better product, and greater customer
satisfaction.