NURS FPX 8010 Assessment 3 Strategic Plan Development

NURS FPX 8010 Assessment 3 Strategic Plan Development

Name

Capella University

NURS-FPX 8010 Executive Leadership in Contemporary Nursing

Prof. Name

Date

Department Strategic Priorities

The nursing department at Adelante Healthcare is relatively new, and the demand for nursing services has recently come to the forefront. This growth has led to a need for a strategic plan and a balanced scorecard, as illustrated in Figure A1. According to Lal (2020), “A successful nursing strategic plan establishes a roadmap for the future. It gives nurses a direction to follow and can refresh and reenergize an organization. A robust strategic plan is a critical component to ensure excellent patient care and the best possible outcomes.” Adelante’s strategic plan focuses on four key areas: finance, wellness, people, and patients. In the finance domain, the objective is to increase revenue, and the nursing department is prioritizing programs that contribute to indirect revenue generation, such as the transition of care into the organization. Wellness efforts are geared toward optimizing evidence-based practices to improve patient throughput. For patients, the goal is to elevate nursing practices and patient-centric models of care delivery, with a key performance indicator (KPI) focused on patient satisfaction. In the people domain, employee retention is a priority, and the department aims to enhance structural empowerment and nursing professional practice through shared leadership and professional governance.

These priorities are essential because they address various aspects of a strategic plan, impacting numerous areas within the organization. The emphasis on evidence-based care and professional practice enhancement improves patient care while elevating nursing standards. Additionally, the focus on patient-centric care models fosters interdepartmental collaboration and encourages patients to participate in improving their experiences. Even the indirect revenue-generating initiatives support the financial health of the organization. Improvements in patient safety, satisfaction, and quality, combined with enhanced staff engagement, contribute to a stronger organizational reputation within the community. This leads to more referrals, which ultimately increase visits and revenue.

The nursing department’s strategic priorities are achievable within the next six months. However, some challenges remain, including pending budget approvals, which may limit staffing resources. As a result, the department might need to employ creative solutions to form committees, transition care teams, and deliver patient-centric care. Gaining buy-in from stakeholders, particularly since Adelante operates across nine locations, is another hurdle. Enlisting executive sponsors and director-level leaders, such as regional medical directors, can aid in smoothing the implementation process. To ensure success, it is critical that all stakeholders understand their role in contributing to the future of healthcare (Taylor, 2019).

Effects of Organizational Policies

Organizational policies play a crucial role in the successful implementation of strategic plans. As Wanga (2022) highlights, “By creating a common language and framework, the balanced scorecard ensures everyone is working towards the same goal. The balanced scorecard format also allows leaders to see how their goals are interlinked with those of other departments, highlighting potential collaboration opportunities.” At Adelante, the nursing department has aligned its strategic objectives with the organization’s overall strategy and policies. The department is not aware of any immediate policy-based challenges, but given its relative newness, future obstacles may arise as it continues to grow.

While strategic planning is essential for organizational change, effective implementation is equally vital. According to Miller (2020), “Without an efficient implementation process, even the best-laid plans may not come to fruition.” The department’s leaders must be mindful of how public policy decisions within the organization impact their strategies. Ensuring that the goals and timelines are clearly communicated and understood by all levels of the organization will help mitigate potential challenges as they arise.

Conclusion

Strategic planning and balanced scorecards are powerful tools for aligning departmental goals with broader organizational objectives. When executed effectively, these tools enhance performance reporting and management, contributing to overall organizational success (Dilrajh, 2020). Adelante Healthcare’s nursing department has developed a strategic plan and balanced scorecard that align with the organization’s overarching strategy. Although the department is new and may experience some growing pains, the outlined priorities are achievable within the next six months. Regular policy reviews and alignment checks between projects, initiatives, and policies are necessary to address unforeseen challenges. Ultimately, the strategic plan and balanced scorecard will foster interdisciplinary collaboration and drive Adelante’s growth (Stefanovska & Soklevsk, 2014).

Table: Strategic Priorities and Objectives

References

Dilrajh, A. (2020, May 22). A few advantages of implementing the BSC in your organisation. Vision Activ. Retrieved October 12, 2022, from https://www.visionactiv.com/post/a-few-advantages-of-implementing-the-bsc-in-your-organisation

Lal, M. (2020). Why you need a nursing strategic plan. JONA: The Journal of Nursing Administration, 50(4), 183-184. https://doi.org/10.1097/NNA.0000000000000863

Miller, K. (2020, February 25). A manager’s guide to successful strategy implementation: HBS online. Business Insights Blog. Retrieved October 12, 2022, from https://online.hbs.edu/blog/post/strategy-implementation-for-managers

Stefanovska, L., & Soklevsk, T. (2014). Horizon Research Publishing: Home. Horizon Research Publishing. Retrieved October 12, 2022, from https://www.hrpub.org/

NURS FPX 8010 Assessment 3 Strategic Plan Development

Taylor, A. (2019, July 23). How to generate buy-In for your strategic plan. Strategic Planning Consultant. Retrieved October 11, 2022, from https://www.smestrategy.net/blog/5-steps-to-increase-buy-in-with-your-strategic-plan

Wanga, E. O. (2022, September 12). The balanced scorecard in healthcare: Everything you need to know. Experience Care: Long-Term Care EHR & Financial Software Solutions. Retrieved October 11, 2022, from https://experience.care/blog/the-balanced-scorecard-in-healthcare