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Health CarePerformance Advisory Services – Strategic Planning
Your Strategy Fulfills Your Mission
July 26, 2018
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TO RECEIVE CPE CREDIT• Individuals
Participate in entire webinar
Answer polls when they are provided
• Groups Group leader is the person who registered & logged on to the webinar
Answer polls when they are provided
Complete group attendance form
Group leader sign bottom of form
Submit group attendance form to [email protected] within 24 hours of webinar
• If all eligibility requirements are met, each participant will be emailed their
CPE certificate within 15 business days of webinar
David RodarteDirectorCincinnati | 513.699.8482 [email protected]
John HarnedDirectorOklahoma City | 405.606.2580 [email protected]
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Annual Budgets
Functional Focus
Meet Budget Predict the Future Think Strategically Create the Future
Thorough Situational Analysis
Competitive Assessments
Evaluation of Alternatives
External Planning
Well-Defined Strategic Framework
Strategically Focused Leadership
KPIs Linked toShareholder Goals
Exec Incentive Linked KPIs
Culture Based on Performance
Stakeholder Value Creation
Multiyear Budgets
Gap Analysis
WHAT IS STRATEGIC PLANNING
BEST PRACTICE
WHAT IS STRATEGIC PLANNING
• A process that aligns organizations & creates a culture of empowerment
• Enables decision making/instills confidence
• Forces choices: go, hold, no go
• Communicates purpose & focus
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ACCOMPLISHMENTS OF STRATEGIC PLANNING
• Understand customer, outside forces & operational requirements to succeed
• Optimize use of resources
• Ensure initiatives are understood at all levels of organization
• Organization is structured to accomplish goals
BKD STRATEGIC PLANNING: PROCESS
Strategic Management
Strategic Analysis- Audit
- Stakeholder Objectives
Plan DevelopmentStrategic Plan
Pre-Plan Implementation
Internal Analysis- Organization Profile
- Strategic Survey- Employee Survey
- Key Customer Survey- Business Segmentation
External Analysis- Seven-Factor Analysis
- Competitor Analysis-Market Segment Analysis
Create Vision Framework
Prioritize SWOT & Key Issues- SWOT Analysis
Determine Strategic Choices
Define Critical Success Factors & Smart Goals
- Strategic Summary- Priorities
Develop Scorecards- Change the Business
- Run the Business
Document Action Plans- Action Plan
Communicate & Link to Organization
- Team One-Page- Meeting Calendar
Monthly Reviews- Strategic Process Checklist
Quarterly Assessments- Key Initiatives Updates
Annual Updates- CSF Initiative Review
Training & Development- Best Practices Scorecard
- Internal Strategic Management- Certification Checklist
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Where Are We Now?
Manage/ Communicate
Stakeholder Objectives
PlanAssess Implement
Internal Analysis
External Analysis
Vision Framework
SWOT & Key Issues
Strategic Choices
Critical Success Factors
Key Initiatives
Action Plans
Communicate
Monthly Reviews Quarterly Assessments
Annual Updates
BKD STRATEGIC PLANNING: ASSESS
Stakeholder Objective
Manage/ Communicate
Stakeholder Objectives
PlanAssess Implement
Internal Analysis
External Analysis
Vision Framework
SWOT & Key Issues
Strategic Choices
Critical Success Factors
Key Initiatives
Action Plans
Communicate
Monthly Reviews
Quarterly Assessments
Annual Updates
BKD STRATEGIC PLANNING: ASSESS
Mission: Purpose in being
Vision: View & belief of the future state
Values: Core beliefs & norms for the organization
BHAG: Big Huge Awesome Goal to strive for the future
Stakeholder Financial Goals
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Internal Analysis
Employee Survey: Organizational health
Key customer survey
Business segmentation
Services profitability
Pareto segments to ROI
BKD STRATEGIC PLANNING: ASSESS
Manage/ Communicate
Stakeholder Objectives
PlanAssess Implement
Internal Analysis
External Analysis
Vision Framework
SWOT & Key Issues
Strategic Choices
Critical Success Factors
Key Initiatives
Action Plans
Communicate
Monthly Reviews
Quarterly Assessments
Annual Updates
External Analysis
Market Segmentation Analysis
Porter’s Five Forces*
Seven-factor analysis • Markets, customers, products• Socio-demographic• Competition• Government, legislative• Economy• Factors of production• Technology
BKD STRATEGIC PLANNING: ASSESS
Manage/ Communicate
Stakeholder Objectives
PlanAssess Implement
Internal Analysis
External Analysis
Vision Framework
SWOT & Key Issues
Strategic Choices
Critical Success Factors
Key Initiatives
Action Plans
Communicate
Monthly Reviews
Quarterly Assessments
Annual Updates
*https://strategiccfo.com/intensity-of-rivalry-one-of-porters-five-forces/
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Group Thinking – Power of Many
Manage/ Communicate
Stakeholder Objectives
PlanAssess Implement
Internal Analysis
External Analysis
Vision Framework
SWOT & Key Issues
Strategic Choices
Critical Success Factors
Key Initiatives
Action Plans
Communicate
Monthly Reviews Quarterly Assessments
Annual Updates
Off site & off the gridTops down, bottoms upMultidisciplined team, influencers & communicatorsCharged with an important mission—the future
BKD STRATEGIC PLANNING: PLAN
Plan – Where Do We Want to Go?
COMMUNICATE:
Shareholder goals
Our purpose, our vision, our culture
BKD STRATEGIC PLANNING: PLAN
Manage/ Communicate
Stakeholder Objectives
PlanAssess Implement
Internal Analysis
External Analysis
Vision Framework
SWOT & Key Issues
Strategic Choices
Critical Success Factors
Key Initiatives
Action Plans
Communicate
Monthly Reviews Quarterly Assessments
Annual Updates
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Plan – Where Do We Want to Go?
BKD STRATEGIC PLANNING: PLAN
What about Wayne?
Manage/ Communicate
Stakeholder Objectives
PlanAssess Implement
Internal Analysis
External Analysis
Vision Framework
SWOT & Key Issues
Strategic Choices
Critical Success Factors
Key Initiatives
Action Plans
Communicate
Monthly Reviews Quarterly Assessments
Annual Updates
SWOT
STRENGTHS1. One2. Two3. Three4. Four 5. Five
OPPORTUNTIES1. One2. Two3. Three4. Four 5. Five
WEAKNESSES1. One2. Two3. Three4. Four 5. Five
THREATS1. One2. Two3. Three4. Four 5. Five
CAPITALIZE INVEST
IMPROVE IDENTIFY
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Plan – Who Are We?
Strengths Opportunities
Weaknesses Threats
BKD STRATEGIC PLANNING: PLAN
Manage/ Communicate
Stakeholder Objectives
PlanAssess Implement
Internal Analysis
External Analysis
Vision Framework
SWOT & Key Issues
Strategic Choices
Critical Success Factors
Key Initiatives
Action Plans
Communicate
Monthly Reviews Quarterly Assessments
Annual Updates
ANSOFF MATRIX
Moderate Risky
Easy Moderate
New Customers
Existing Customers
Existing Services New Services
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Plan – How Do We Achieve Our Vision?
BKD STRATEGIC PLANNING:PLAN
OPPORTUNITIES
Critical to our success… The Critical Few
Offense & defense
Go, hold, no go
Pareto, Ansoff MatrixManage/
Communicate
Stakeholder Objectives
PlanAssess Implement
Internal Analysis
External Analysis
Vision Framework
SWOT & Key Issues
Strategic Choices
Critical Success Factors
Key Initiatives
Action Plans
Communicate
Monthly Reviews Quarterly Assessments
Annual Updates
Execute
Manage/ Communicate
Stakeholder Objectives
PlanAssess Implement
Internal Analysis
External Analysis
Vision Framework
SWOT & Key Issues
Strategic Choices
Critical Success Factors
Key Initiatives
Action Plans
Communicate
Monthly Reviews Quarterly Assessments
Annual Updates
BKD STRATEGIC PLANNING:EXECUTE
Actions created by team
Champions – to lead implementation
Accountability
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Measure
Stakeholder Objectives
PlanAssess Implement
Internal Analysis
External Analysis
Vision Framework
SWOT & Key Issues
Strategic Choices
Critical Success Factors
Key Initiatives
Action Plans
Communicate
Monthly Reviews Quarterly Assessments
Annual Updates
Manage/ Communicate
BKD STRATEGIC PLANNING:MEASURE
S.M.A.R.T. GoalsSpecificMeasurableAttainableResults Time Sensitive
Champion per SMART goal – team accountable
Disciplined monthly meeting
Support, identify obstacles
Change or modify
Key Initiatives (What are the big-picture initiatives to make the priority successful):
What needs to be done? Who will do it? And when? MeasurementSpecific actionable steps Specific time or result Specific actionable steps Specific time or result
Specific actionable steps Specific time or result
Specific actionable steps Specific time or result
Specific actionable steps Specific time or result Specific actionable steps Specific time or result
Specific actionable steps Specific time or result
BKD STRATEGIC PLANNING:EXECUTE
Priority Issue: Product Information Management
Date:
Champion: Revision:
Objectives and Outcome(s): (what does success look like)
SMART GoalsSpecific, Measurable, Attainable, Realistic, Time
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COMMUNICATION PROCESS
Monthly Scorecard
Key Initiative Reporting ChampionAction Step Description Apr-16 May-16 Jun-16
Job Shop GrowthEstablish goals 0% 100% 100%Grow existing SKUImprove communicationPlanning process
10% 15% 15%
Initiative 2Action stepsAction stepsMeasurement of success
Initiative 3Action stepsAction stepsMeasurement of success
EXECUTIVE SCORECARD: SUMMARY
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IN REVIEW
• Strategy starts with mission, vision & values
• Know where you are & where you want to go
• Involve your team = empowerment & performance
• Choose the critical few
• Communicate your plans
• Measure, inspect, clear obstacles
• Repeat the process annually
Questions?
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CONTINUING PROFESSIONAL EDUCATION (CPE) CREDIT
BKD, LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The information contained in these slides is presented by professionals for your information only & is not to be considered as legal advice. Applying specific information to your situation requires careful consideration of facts & circumstances. Consult your BKD advisor or legal counsel before acting on any matters covered.
CPE CREDIT
• CPE credit may be awarded upon verification of participant attendance
• For questions, concerns or comments regarding CPE credit, please email the BKD Learning & Development Department at [email protected]