Resource: Strategic Plan – Mayo Clinics

 

Complete Part IV and V of your strategic plan. Note that you only need to submit these as part of the final completed plan.

 

Part IV: Implementation

Write a 700- to 1,050-word report describing how you plan to implement your strategic plan. In your report:

  • Determine the potential barriers you anticipate and how you plan on overcoming them.
  • Create a plan for communicating your plan to all the organization’s employees.
  • Describe market entry strategy and the procedure you plan on using to implement your strategic plan.
  • Choose methods and strategies to support implementation processes. 

 

Part V: Evaluation and Control

Write a 700- to 1,050-word evaluation plan in which you:

  • Determine what measurement guidelines should be used to verify strategy effectiveness.
  • Explain when you would consider altering the strategic plan you have suggested if implementation does not go according to plans.
  • Determine what tolerance range should be in place that would call for corrective action if exceeded.
  • Determine what corrective action you would need to make if the organization’s performance fell outside the tolerance range.

 

I have attached part one – three already done. Just need be compile with 4-5 as followed below.

Compile Part I through V into one final strategic plan as follows:

  • Describe the strategic planning model you have chosen for your organization.
  • Part I: Organizational Structure
    • Analyze the framework of a strategic plan.
    • Evaluate the relationship between the strategic plan and organizational mission, vision, and values.
  • Part II: Environmental Analysis and Setting Strategic Goals
    • Include your SWOT Analysis.
    • Evaluate the significance and implications of an external environmental analysis in the development of a strategic plan.
    • Analyze evolving external issues that can have an impact on the strategic plan.
    • Evaluate benefits of competitive analysis as part of the strategic planning process. 
  • Part III: Financial Plan
    • Evaluate the impact of internal resources and financial capabilities on the business model implementation.
    • Create a financial plan that includes the key elements needed to support the implementation of a strategic plan.
      • Include your projected budget.
  • Part IV: Implementation
    • Develop a communication plan that supports and manages the implementation strategy.
    • Choose methods and strategies to support implementation processes. 
  • Part V: Evaluation and Control
    • Determine what measurement guidelines should be used to verify strategy effectiveness.
    • Explain when you would consider altering the strategic plan you have suggested if implementation does not go according to plans.
    • Determine what tolerance range should be in place that would call for corrective action if exceeded.
    • Determine what corrective action you need to make if the organization’s performance fell outside the tolerance range.

Submit the assignment as a complete plan, including Part I through V.

Cite at least 5 peer-reviewed, scholarly, or similar to support your information.

Format your plan according to APA guidelines.

Click the Assignment Files tab to submit your assignment. 

 

 

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Running head: STRATEGIC PLAN PROJECT

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STRATEGIC PLAN PROJECT

Strategic Plan Project


Strategic Plan Project

The Mayo Clinic endeavors to treat with respect and dignity, everyone that constitutes the diverse community of the clinic. The Mayo Clinic community includes patients, their families, and colleagues at work. The clinic endeavors to provide care to all its community members with empathy and sensitivity at all times. To ensure healing, the clinic inspires hope while at the same time nurturing the health of every patient by respecting the spiritual, emotional, and physical needs of that patient. This report is the strategic plan of the Mayo Clinic and the governance structure.

Mayo Clinic Vision, Mision, and Key Values

·
Vision:
Mayo’s vision is to create a future state of medicine while staying true to its values and heritage. It also sees itself as taking bolder steps to transition into a new paradigm of medicine. Mayo see itself as leading the away because it has the integrity and strength required for such a transition.

·
Mission:
Mayo’s mission is to enlist the diversity of their community members who include employees, patients, their families, students, surrounding communities, and suppliers so as to provide the best in terms of service in healthcare. To achieve this mission, Mayo Clinic provides the best to every patient through education, research, and integrated clinical practice.

·
Key Values:
Mayo Clinic’s key values include integrity, respect, compassion, teamwork, healing, innovation, stewardship, and excellence. These values are explained briefly below.

Mayo Clinic’s Strategic planning model

· The Mayo Clinic employs a strategic framework where a team of experts focuses only on one patient at a time.

· Every member of that team works together with the others to provide coordinated treatment and first-rate care to that patient until he or she regains his or health and wellbeing.

· All team members understand that what is important to a patient that visits Mayo Clinic is nothing but their health and wellbeing and that is why they focus on delivering exactly on that.

· Focusing on restoring the health and wellbeing of one patient at a time, Mayo Clinic lives by its vision of creating the future state of medicine, its mission of inspiring hope to all individuals in its diverse community and its core values of integrity, healing, excellence, stewardship, compassion, respect, teamwork, and innovation.

Organizational structure

The organizational structure of Mayo Clinic involves individuals from all areas of the cl

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Running head: EXTERNAL ENVIRONMENTAL ANALYSIS

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EXTERNAL ENVIRONMENTAL ANALYSIS


External Environmental Analysis

Purpose of environmental analysis

Environmental analysis is a tool of trategic plan that is used to identify all the internal and external factors that can affect the performance of a given organization. In this case, the purpose of environmental analysis is to identify the internal and external factors such as political factors, social factors, legal factors, technological factors, environmental factors, and economic factors that can affect the performance of Mayo Clinic. So, when an environmental analysis is done of Mayo clinic, then it is aimed at assessing the organizational opportunities or level of industry threats that these factors may bring to the clinic. These environmental evaluations would not only align decisions of the clinic but also the strategies with its environment.

Implications of environmental analysis in the creation of a strategic plan

The level of accuracy in evaluating environmental factors during the environmental analysis would determine whether or not the strategic plan will fail or succeed. So, an effective environmental analysis can enable management to identify organizational opportunities and industry threats, which in turn would aid in focusing the efforts to ensure success of a business. To explain the possible implications of environmental analysis on a strategic plan, we will have to revisit the factors in the environmental analysis

Political factors: The country’s prevailing political situation constitutes the political factors under analysis. Environmental analysis will not only read the prevailing political climate of a country but also the global political conditions as they affect the business and the country in which the business is operating. Some political factors such as government stability, tariffs and laws on taxation, regulations on entry into the industry, and policies of the government will affect the decisions of the clinic.

Social factors: You would want also to consider the mindset of the society in which the clinic is operating. Some social factors such as social lifestyles, levels of education, domestic structures, wealth distribution, cultural implications, demographics and gender can affect the demand of the clinic’s services and products.

Economic factors: Apparently, economic factors such as level or interest rates, rate of inflation, accessibility of credit to potential buyers, levels of unemployment, rate of foreign exchange policies that regards to the monetary and fiscal endowments of the country, and the level of disposable incom

Financial Plan Explanation

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Financial Plan Explanation

Financial Plan Explanation

A financial plan is the use of a budget to perform a comprehensive evaluation of the firm’s current financial situation and estimating the future performance of the use of the current variables. It has to include a budget that helps in organizing the finances and in different organizations it involves following of some goals that are set by the organization. A good example is a goal to increase savings. To achieve such goals, a firm has to ensure that it increases the revenue while minimizing the cost. The company needs to make sure that the inflows are increased as compared to the outflows. It comes up with different cost saving methods while increasing or maintaining the revenues. Firms perform a financial planning with the aim of achieving different goals. Most important goals include the ability to make the right financial decisions and capacity to remain focused to meet their goals (Sofat, 2016).

The financial budget for Mayo clinic consisted of different elements. Revenues included all the activities that were carried out in the hospital that increase the profits earned. It included all the consolation fees the payments made on treatments and the patients. The services offered and the sale of different medicines also contributed to the income earned. From the projections, the clinic aimed at increasing the services provided and the number of patients that were attending the hospitals. These were the main areas that the firm concentrated on. It meant that the higher the chances of increase in income the higher the clinic performance. The firm was ready to incur some additional promotions to be made in public. They include advertising of their products and the services that they offered (McLean, 2003).

On the expenses, they included all the activities that made the clinic to spend some amount of money in providing their services. They included salaries. These were the payments that were made. They included paying of all the staff. There were also some amounts that were spent on the supplies. These included the equipment used in the clinic and the medicines. The suppliers also included those that offered supporting services. They included those that could offer meals, electricity and cleaning services. There were travel expenses. They included the expenditures made by doctors and nurses in the access of the clinic. Maintenance was another that was captured. Support involved the repair and servicing that was made to the office equipment. It included the repair of machines that had broken down while on work. Maintenance involved all those services that were offered with the aim of maintaining the good condition of the tools. There were also expenses on contracts and marketing. Marketing involved the promotions made that aimed at helping the clinic attract many people as p

Budget

Section One: Projected Budget
Budget for Mayo Clinic
Purchase & Hire & Train Strategies to Increase Volume
Install Staff Purchase and install a new MRI.
MRI Train or hire additional staff to operate new MRI.
Revenue Year 1 Year 2 Year 3 Increase marketing to physicians.
000′ 000′ 000′
CT $200,000 $220,000 $242,000 Assumptions
MRIs $200,000 $220,000 $242,000 Increase in revenue/year 10.00%
General diagnostic $200,000 $220,000 $242,000 Increase in salaries/year 4.00%
Interventional $200,000 $220,000 $242,000 Increase in supply expense/year 5.00%
Travel as a % of revenue 0.50%
Total revenue $800,000 $880,000 $968,000 Maintenace as a % revenue 1.00%
Contracts as a % of revenue 2.00%
Expenses Marketing as a % of revenue 0.50%
Misc as a % of revenue 1.00%
Salaries $520,000 $572,000 $629,200 Salaries as a % of revenue 65.00%
Supplies $120,000 $126,000 $132,300
Travel $4,000 $4,400

Budget

Section One: Projected Budget
Budget for Mayo Clinic
Purchase & Hire & Train Strategies to Increase Volume
Install Staff Purchase and install a new MRI.
MRI Train or hire additional staff to operate new MRI.
Revenue Year 1 Year 2 Year 3 Increase marketing to physicians.
000′ 000′ 000′
CT $200,000 $220,000 $242,000 Assumptions
MRIs $200,000 $220,000 $242,000 Increase in revenue/year 10.00%
General diagnostic $200,000 $220,000 $242,000 Increase in salaries/year 4.00%
Interventional $200,000 $220,000 $242,000 Increase in supply expense/year 5.00%
Travel as a % of revenue 0.50%
Total revenue $800,000 $880,000 $968,000 Maintenace as a % revenue 1.00%
Contracts as a % of revenue 2.00%
Expenses Marketing as a % of revenue 0.50%
Misc as a % of revenue 1.00%
Salaries $520,000 $572,000 $629,200 Salaries as a % of revenue 65.00%
Supplies $120,000 $126,000 $132,300
Travel $4,000 $4,400