Module 3 Assignment Magneto Status for St Johns: Strategic Plan Sections 3–6

Module 3 Assignment Magneto Status for St Johns: Strategic Plan Sections 3–6

Module 3 Assignment Magneto Status for St Johns: Strategic Plan Sections 3–6

Module 3 Assignment Magneto Status for St Johns: Strategic Plan Sections 3–6

            A strategic plan significantly contributes to achieving the desired organizational change. Strategic planning involves developing business strategies, incorporating them into business operations, and evaluating the results of implementing those approaches based on the organization’s long-term goals. Organizational management should design goals, objectives, and strategies that align with the proposed strategic plan to achieve long-term goals. Thus, St. John Hospital aims at implementing Magneto hospital’s strategic plan, including goals, objectives, and strategies; proposed core team of change champions; budgeting and timeline tools, and a balanced scorecard.

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Section 3: Summary

            The strategic plan will be achieved through goals, objectives, and strategies.

Goals

A goal reflects the organization’s desired accomplishment. It gives a broader picture of what a company intends to achieve in the future. It presents a broad statement of what your organization hopes to achieve. An organization without goals cannot grow or expand its operations. Measurable objectives support goals, making them achievable. The primary goal for St. Johns hospital is to become a magneto hospital. This goal will be achieved by demonstrating a high standard of excellence in five aspects of a magnet hospital. The achievement of this goal will be monitored by assessing aspects of a magneto hospital evident in healthcare organization’s clinical practices.

Objectives

An objective is a measurable step that contributes to achieving set organizational goals. Thus, the achievement of organizational goals significantly depends on the set objectives. An objective gives a clear picture of anticipated improvement, indicating changes in statistics, which could be an increase or decrease. St. John hospital aims at achieving five key objectives, including utilizing transformational leadership, creating structural empowerment, demonstrating exemplary professional practice, creating new knowledge, innovations, and improvements, and achieving empirical outcomes. These objectives will be achieved by implementing strategies supporting each one of them.

Strategies

A strategy is an overall approach used to attain the desired results. An organization’s strategies are determined by the objectives to be accomplished. Thus, the organization should adopt strategies contributing towards achievement of the five targeted objectives. First, the objective of transformational leadership will be achieved by adopting transformational leadership as organization’s leadership style. Transformational leadership style will support and advocate for staff and patients’ needs at all levels of the organization. Additionally, the organization will ensure it has strong and highly-competent nursing leaders at all levels. This objective will be measures by assessing leadership style demonstrated by organization and effectiveness of nurse leaders. The second objective, involving structural empowerment will be achieved by recognizing nursing staff contribution, being committed to professional development, and decentralizing organization’s decision-making process, allowing all staff members to give their views and inputs concerning major issues affecting the organization. The third objective, exemplary professional practice will be achieved by being accountable and demonstrating competence in professional systems, procedures, and practices. Additionally, the healthcare organization will systemically measure patient care and outcomes. Furthermore, the objective of creating new knowledge, innovations, and improvements will be achieved conducted by conducting the required research and evidence-based practice to be incorporated into hospital’s clinical and operational processes to improve the quality of patient care and health outcomes. Additionally, organization’s leadership should encourage innovation at all levels of hospital’s operations. Lastly, the objective of empirical outcomes will be achieved by emphasizing the significance of achieving positive outcomes at various levels, including the patient, community, workforce, and organizational level.

In a nutshell, goals, objectives, and strategies will contribute to the achievement of St. John’s strategic plan. The hospital’s primary goal involves becoming a magnet hospital. The achievement of this goal will be supported by five objectives, including utilizing transformational leadership, creating structural empowerment, demonstrating exemplary professional practice, creating new knowledge, innovations, and improvements, and achieving empirical outcomes. Additionally, the strategies for achieving each goal will contribute towards achieving organization’s goal of attaining magnet status.

Section 4: Proposed Core Team of Change Champions

The proposed changes for St. John Hospital involves obtaining magnet status to improve staffs’ working environment and performance and clinical outcomes. Achievement of organization’s primary goal will be supported by internal and external stakeholders. Internal stakeholders include the management and healthcare professionals, including physicians and nurses. The management will approve and support the implementation of the proposed changes. For instance, the management will apply transformational leadership skills, thus empowering staff to perform better, resulting in positive clinical outcomes. Additionally, the management will provide the financial resources needed to successfully implement these changes. Thus, the proposed changes cannot be successfully implemented in the healthcare organization without management’s support. Secondly, healthcare professionals, including physicians and nurses, were selected since they will be involved in the actual implementation of the proposed change. Nilsen et al. (2020) reported that successful implementation of change in healthcare organization depends on the contribution of healthcare professionals. Therefore, in an effort to obtain magnet status, healthcare providers will demonstrate exemplary performance resulting in better clinical outcomes. On the other hand, external stakeholder particularly regulatory bodies will be involved in approving for the implementation of the proposed changes. According to Runciman and Lumby (2020), regulatory bodies approve the implementation of major changes in the healthcare system. Thus, the healthcare organization cannot work towards achieving magnet status without the approval of the regulatory agencies.

Overall, the achievement of the set organizational goals will significantly depend on the input of internal and external stakeholders. The internal stakeholders to be involved during implementation of the proposed change include the management and healthcare professionals. On the other hand, external stakeholder particularly regulatory bodies will be involved in implementing the desired change.

Section 5: Budgeting and Timeline Tools

The strategic plan is associated with positive and negative financial impacts. The healthcare organization will incur expenses in its effort to become a magnet hospital. Funds will be required to improve working conditions for healthcare staff, which will result in job satisfaction, leading to better performance, quality patient care, and positive health outcomes. According to Farman et al. (2017), nurses’ job performance significantly impact the quality and safety of patient care. Thus, by improving nurses’ working condition the hospital will achieve better staff performance and clinical outcomes, becoming a magnet hospital.

The proposed change will be implemented within 12 weeks. The first two weeks will be spent in assessing organization’s gap and changes needed to attain magnet status. Weeks 3 and 4 will be spent educating healthcare professionals about the desired change and their role during change implementation process. Healthcare professionals will support the change once they understand the benefits associated with attain the magnet status, including having a conducing working environment and achieving better clinical outcome. Week 5 and 6 will be spent assessing potential barriers and addressing them, resulting in successful implementation of the proposed change. Week 7 to 10 will be spend in making changes required to achieve magnet status, including adopting transformational leadership style, creating structural empowerment, creating new knowledge, innovations, and improvements. Lastly, weeks 11 and 12 will be spent in assessing if the organization demonstrate exemplary professional practice or has achieved empirical outcomes following implementation of the proposed changes.

In conclusion, implementing the proposed changes is associated with positive and negative financial impacts. Funds will be incurred in transforming the current working conditions, creating a magnet status. Conversely, creating a conducive working environment will accrue financial benefits through positive clinical outcomes.

Section 6: Balanced Scorecard

The scorecard indicates how the proposed change will impact finances, patients, internal processes, and organizational capacity. The proposed change involves becoming a magnet hospital, improving staff performance and clinical outcomes. Improved clinical outcomes will reduce adverse outcomes such as patient falls and medication errors and related expenses. According to Kruk et al. (2018), healthcare organizations incur extremely huge expenses in treating medication errors-related health complications. Hence, by improving clinical outcomes, the healthcare organization will reduces expenses that would be incurred in treating preventable health complications, increasing the organization’s overall revenue. Additionally, becoming a magnet hospital will improve the quality of healthcare services and health outcomes, resulting in a positive patient experience. Satisfied clients are likely to seek healthcare services from the organization in the future or give sales, increasing overall revenue. Furthermore, in an effort to become a magnet healthcare organization, St. Johns hospital will improve its technology level and healthcare providers’ knowledge and skills. Improving technology will enhance organization’s capacity to provide quality care to all patients, achieving positive health outcomes. Healthcare providers will be educated to equip them with knowledge and skills needed to perform exemplary in their clinical practices at various levels.

Overall, the scorecard indicates outcomes of the CPOE, including increasing healthcare providers’ knowledge and skills. This will enhance their capacity to offer safe and quality patient care. Therefore, St. John hospital should implement the proposed changes to become a magnet hospital and achieve better clinical outcomes.

References

Farman, A., Kousar, R., Hussain, M., Waqas, A., & Gillani, S. A. (2017). Impact of job satisfaction on quality of care among nurses on the public hospital of Lahore, Pakistan. Saudi J Med Pharm Sci, 3(6A), 511-9.Taner, M. T., Sezen, B., & Antony, J. (2007). An overview of six sigma applications in healthcare industry. International Journal of health care quality assurance.

Kruk, M. E., Gage, A. D., Arsenault, C., Jordan, K., Leslie, H. H., Roder-DeWan, S., … & Pate, M. (2018). High-quality health systems in the Sustainable Development Goals era: time for a revolution. The Lancet global health, 6(11), e1196-e1252.

Nilsen, P., Seing, I., Ericsson, C., Birken, S. A., & Schildmeijer, K. (2020). Characteristics of successful changes in health care organizations: an interview study with physicians, registered nurses and assistant nurses. BMC health services research, 20(1), 1-8. https://bmchealthservres.biomedcentral.com/articles/10.1186/s12913-020-4999-8

Runciman, W. B., & Lumby, J. (2020). Regulating clinical practice. In Patient Safety First (pp. 192-220). Routledge.

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Module 3 Assignment: Strategic Plan Sections 3–6

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This week, you will submit the next four sections of your Strategic Plan. As you create each section of your Strategic Plan, keep in mind that all resources that you use should be documented in APA style in Section 9: References, however Section 9 will not be graded until it is submitted in Week 10.

Section 3: Goals, Objectives, and Strategies
Defining the goals, objectives, and strategies of your Strategic Plan will help to define the parameters of the project and give it focus and direction. A goal is usually broad and abstract, while an objective is specific and measurable. Strategies are the plans that will be used to achieve the identified goals and objectives.

To prepare:

Review information on goals, objectives, and strategies in Chapters 5 and 6 of the Martin text and in the other Learning Resources.
Consider if the goals and objectives are specific, measurable, attainable, relevant, and time-bound.
Evaluate how well the goals and objectives reflect the stakeholders.
To complete:

Write a 2- to 3- page summary of the goals, objectives, and strategies for your Strategic Plan. In your summary:

Identify the goals, objectives, and strategies for your plan.
Explain success in attaining each goal, objective, and strategy will be defined, monitored, and evaluated.
Explain how the goals, objectives, and strategies reflect the needs of relevant stakeholders.
Section 4: Proposed Core Team of Change Champions
To prepare:

Reflect on the results of your SWOT analysis (Section 2 of your Strategic Plan, submitted in Week 5).
Think about how effective stakeholder involvement would promote the successful adoption and implementation of your proposed change.
Consider the following:
What strategies would help you to develop a core team to generate buy-in for this change?
Which stakeholders should be included in the process as change champions? How and when should they become involved?
To complete:

Write a 1- to 2-page description of your core team of change champions. Include the following:

Identify internal and external stakeholders, and explain why they were selected.
Explain how stakeholders will be involved in the strategic planning process.
Explain how you will collaborate and communicate with stakeholders.
Explain how you will keep stakeholders motivated and engaged.
Section 5: Budgeting and Timeline Tools

To prepare:

Review the information on budgeting in the Week 6 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?
Consider the feedback you received on your Week 6 Discussion posting.
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 the Week 6 Learning Resources.
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:

Write a 1- to 2-page description of your budget and timeline for your Strategic Plan. In your description:

Provide an analysis of the financial impact of your Strategic Plan. Provide visual support (e.g., tables, charts, screenshots of Excel worksheets) for your financial analysis directly within your template.
Provide a timeline for the implementation of your proposed change using PERT or another timeline tool. Consider how your timeline can allow leeway for variance.
Section 6: Balanced Scorecard

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 the Week 8 Learning Resources in addition to the other relevant 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.
To complete:

Create a balanced scorecard for your Strategic Plan issue. Directly provide the diagram/image for your balanced scorecard in your submission. (To do this, you may create the diagram in the template using Word SmartArt, or you may create it with an outside diagramming tool of your choice and copy and paste a screenshot of the image into your template.)
Then, in 1–2 pages, explain how your balanced scorecard could be used to measure and evaluate the impact of the planned change and how it could be used to determine if the outcomes justify the project costs.
By Day 7
Submit the following sections of your Strategic Plan, using the provided template:

Section 3: Goals, Objectives, and Strategies
Section 4: Proposed Core Team of Change Champions
Section 5: Budgeting and Timeline Tools
Section 6: Balanced Scorecard