Strategies Presentation

[Audio] In the following presentation there will be a discussion of strategic planning. The author defines what strategic planning entails and its purpose. Then the author points out who will be on the team of the strategic planning. There is consideration of the location of the meeting, the duration or how long the meeting will be, and who will plan the agenda of the meeting. The author then gives an example of possible phases of the strategic planning session according to the specific organization – which is the University at Buffalo. The author then considers the inputs that will additionally be a part of the strategic plan. An example of a mission statement is given, then the vision and goals are discussed..

[Audio] Every business should try to produce a strategic plan, but what is strategic planning? Strategic planning involves representing mid to long-term goal with a lifetime of up to three to five years or longer. Strategic planning is the process by which an organization's leaders define their vision of the future and identify their organization's goal and objective. The process includes the sequence in which the established goal should be realized so that the organization can achieve its stated vision..

[Audio] Some possible purposes of strategic planning are: To better assign resources To focus on pre-determined initiatives To better focus in your business To change the direction of your business To deal with competitors.

[Audio] Stakeholder - party that has an interest, often financial, in a business. Senior leader – example CEO or otherwise Frontline employees – people who take command from higher management. Middle management - the managers in an organization at a level just below that of senior administrators. The process needs seven to ten people so that so the conversation will not be too complex, but informative enough..

[Audio] Who, Where, when, and how? Location: offsite or onsite Duration: half a workday, full day, 2 to 3 days etc. Who creates the agenda? What are the objectives for the 1 to 3 days?.

[Audio] For the University at Buffalo School of Medicine there are three phases of the process which will be discussed in the next 3 slides. Phase 1 is about Planning research Planning interviews Stakeholder survey on strategic priorities Environmental assessment.

[Audio] Phase II: Define Strategic Direction Define strategic vision Define Goals with measurable outcomes Develop specific strategies and Tactics.

[Audio] Phase III: Finalize the Plan Finalize the strategic plan Develop Implementation Plan with Target dates and assignments.

[Audio] Input: External analysis SWOT Strengths, weaknesses, opportunities, threats PESTLE Political, Economic, Societal, Technological, legal, environmental Internal Analysis – this entails stakeholder and management team input.

[Audio] Input to the strategic plan Focusing on SWOT. For each area of the SWOT the questions that can be asked are: Strengths: 1. What is our competitive advantage? 2. What resource do we own? 3. What products are performing well? Weakness: 1. What area can we improve on? 2. What outcomes are underperforming? 3. Where are we lacking? Opportunities: What are the new markets that can be explore? Can we widen our core operations? Threat: What new regulation threaten operations? What does the competition do well?.

[Audio] The foundation of strategic planning are vision, mission, goals and objects, strategies, and tactics. They all contribute to each other, and it is important that they are aligned with each other. An example of a Mission statement is: To advance health and wellness across the life span for the people of New York and the world through the education of tomorrow's leader in health care and biomedical science innovative research and outstanding clinical care..

[Audio] The school vision is to: Become a premier Department of Medicine among public institutions, achieving a level of excellence that will serve as a magnet for regional community and distinguish the department nationally..

[Audio] An organization must use the acronym " SMART" to create goals. The acronym SMART stands for Specific, Measurable, Achievable, Relevant, and time-bound efforts. By using the SMART principles, the facilities can start establishing their strategic planning goals. Example of the Universities goals are: Goal 1: Strategically build a clinical practice that will be known as a major provider of excellent clinical care. Goal 2: Improve the quality and reputation of the residency and fellowship training program in order to attract and retain the best candidates. Goal 3: Expand clinical and translational research. Goal 4: Forge a strong departmental identity founded on excellence collaboration and innovation Goal 5: Develop a sound business model to provide sustainable resources to achieve of vision for the future. The following presentation has been created for addressing, Assignment 1C: Strategies Presentation.