Week 4.1 Assignment Instruction Business Plan Part 1: SWOT Analysis *For the Business Plan assignment, you will create a business plan that aligns to the organization's strategic plan. Complete Part I of the Business Plan assignment according to the directions in the Part 1: SWOT Analysis section of the "Business Plan" resource. In addition, refer to the "SWOT Analysis" template for completing this assignment. **You are required to use two to three qualified references IN ADDITION TO YOUR TEXTBOOK for this paper. ***Prepare this assignment according to the APA guidelines. ****You will be graded on: 1. Strengths and Weaknesses: A description of strengths and weaknesses is thorough and well integrated with no gaps. 2. Opportunities and Threats: A description of opportunities and threats is thorough and well integrated with no gaps. 3. Thesis Development and Purpose: Thesis is comprehensive and contains the essence of the paper. Thesis statement makes the purpose of the paper clear. 4. Argument Logic and Construction: Clear and convincing argument presents a persuasive claim in a distinctive and compelling manner. All sources are authoritative. Business Plan Strategic planning within organizations provides a plethora of benefits to the organization, including meeting goals specified in the plan and contributing to the long-term success of an organization. Corporate-level strategy is informed through an organization’s mission and vision statement. Portfolio management is driven by the mission, vision, and corporate-level strategy, and implemented at the Strategic Business Unit level. SBU-level strategies seek to develop resources and competencies. SBU’s also have mission and vision statements to set the strategic direction of the entire unit. The strategic direction of the SBU is related to corporate-level strategy. The functional area may include the following, but possibly on a smaller scale: clinical operations (for example, within this area you could have radiology), marketing and promotion, human resources, information and clinical technologies, and finance department. Within the SBUs, these functional areas also have strategies. Search for a strategic plan in a health care organization. After reviewing the strategic plan, select a business function or department within the selected health care organization to develop a business plan. The goal of the business plan is to help the organization implement the organizational mission and vision through setting a specific, measurable goal. Alignment between the organizational strategic plan and a business plan is key to successful implementation. The purpose of any department is to achieve the organizational mission and carry out various strategic initiatives that meet the mission and vision. In other words, the business plan intends to make the organization better in the specific direction the company wants to move in. For this assignment, select either your own health care organization or one you know enough about to complete a business plan. The same health care organization will be used for the entire Business Plan assignment, including the following parts: • • • • • Part 1: SWOT Analysis - Topic 4 Part 2: Action Plan - Topic 6 Part 3: Stakeholder Analysis and Communication Plan - Topic 6 Peer Review - Topic 7 Part 4: Revision and Final Submission - Topic 8 Create a business plan of 1,500-2,000 words, excluding title page, abstract, and appendices according to the instructions provided below for each part. Part 1: SWOT Analysis A SWOT analysis is part of strategy formulation that leads to goal setting and then progresses to the development of a business plan. Complete a SWOT analysis using the "SWOT Analysis" template. Using the SWOT analysis results, develop at least one strategic goal. Submit both the completed SWOT analysis document and the strategic goal. Be sure to cite two or three sources. While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center. Part 2: Action Plan Address the following items: 1. Brief description of the project (must have instructor approval). 2. History or rationale (including industry trend data as appropriate). 3. Market analysis (including competition). 4. Goals and outcomes (relationship to strategic focus). 5. Structure (including alliances, contractual relationships, etc.). 6. Financial data overview: Include a summary of what financial data you examined or would examine. For each financial statement, describe the specific factors that informed you (net revenue, profit loss, balance sheet major). 7. Personnel/Staffing (including provider relationships as appropriate). 8. Implementation schedule: Develop an implementation schedule that identifies the resources and competences in your department and describe how they are matched to the strategic initiative. Identify how your action plan aligns to the organization’s strategic initiatives. While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center. Part 3: Stakeholder Analysis and Communication Plan 2 Complete a stakeholder analysis to identify and prioritize the various stakeholders. Refer to the "Stakeholder Analysis - Winning Support for Your Projects," resource (located on the Mind Tools website) and complete all steps. Include a communication plan for disseminating your action plan for all of the stakeholders. Which strategies do you plan to utilize and why? Your plan should demonstrate how you plan to use various types of communication channels to implement the plan. In addition, explain how the communication plan addresses what you are hoping to achieve with your strategic goal. While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center. Peer Review The instructor will send you the first draft of another student's Business Plan assignment through the classroom e-mail system. Use the feedback on your draft papers provided by your instructor to revise and complete your final change proposal for your Business Plan. The instructor will assign each student a Business Plan draft of a peer to critique. Review the draft Business Plan assigned to you. Critique the draft by analyzing the content and providing extensive comments evaluating scholarly discourse (grammar, theme development, transition, clarity, and appropriateness of content). Communicate your feedback in an encouraging, professional manner. All edits should be made on the actual document. APA format is not required, but solid academic writing is expected. You are not required to submit this assignment to Turnitin. Submit a copy of your peer-reviewed paper to the instructor and your classmate using the Individual Forum. Part 4: Revision and Final Submission Revise your final comprehensive Business Plan to include improvements as a result of developing a deeper understanding of the concepts and strategies, as well as peer review and instructor feedback. 3 While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center. 4 SWOT Analysis Strengths Use these prompts to complete this section: Weaknesses Use these prompts to complete this section: 1. What are the recognized strengths of your identified area? 1. What are the recognized weaknesses of your identified area? 2. What does your identified area do better than other companies? 2. What do competitors do better than your identified area? 3. What unique capabilities or resources does you identified area possess? 3. What areas can be improved at your current position? 4. What do other companies consider to be your strength? 4. What do other companies consider to be your weakness? Opportunities Use these prompts to complete this section: Threats Use these prompts to complete this section: 1. What trends or conditions impact the company in a positive way? 1. What trends or conditions impact the identified area in a negative way? 2. What opportunities exist for the identified area? 2. What is the competition doing that may have an impact on your identified area? 3. Does your identified area have solid financial support? 4. What impact does your weakness have on the threats your identified area faces? References 2 4- Class Book and Electronic Resources Class Book Being Used: Read Chapter 3-5 of Moseley III, G. B. (2017). Managing Health Care Business Strategy. Jones & Bartlett Learning. https://books.google.de/books?hl=en&lr=&id=qrCgDgAAQBAJ&oi=fnd&pg=PP1&dq=Managing+Health+ Care+Business+Strategy&ots=eIWsNzY2vB&sig=IMvVTZ2n3aLw1vXn3iGGPE6szY#v=onepage&q=Managing%20Health%20Care%20Business%20Strategy&f=false Electronic Resource: 2015–2016 Baldrige Excellence Framework (Health Care) Review "2015–2016 Baldrige Excellence Framework (Health Care)," located on the National Institute of Standards and Technology's (NIST) Baldrige Homepage website. http://www.nist.gov/baldrige/publications/hc_criteria.cfm Websites: 1. National Committee for Quality Assurance Continue to explore the National Committee for Quality Assurance (NCQA) website for information about annual reports of for-profit and not-for-profit health care organizations helpful in conducting an internal audit of health care organizations. http://www.ncqa.org/ 2. American Nurses Credentialing Center Continue to explore the American Nurses Credentialing Center (ANCC) Magnet Recognition program website for information about annual reports of for-profit and not-for-profit health care organizations helpful in conducting an internal audit of health care organizations. http://www.nursecredentialing.org/Magnet.aspx
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