When implementing strategy, corporations are exposed to a series of events that look into their activities and how performance can be improved. On many occasions, company managers engage their stakeholders, including consumers and employees, to understand their perspective towards the recommended measures. Although company managers can always make informed decisions regarding the nature of outcomes that can be implemented in the workplace, overcoming a persistent problem hinders individuals from discovering their potential (Matthias & Brown 20). Importantly, strategy in health care management plays a significant role in improving the overall experience of patients. Since different health care organizations are inspired by a wide range of factors to penetrate the consumer segment, observing the set standards of operation is usually critical to the success of an organization. From this realization, embracing Monitoring and Evaluation (M&E) techniques exposes corporations to an enabling environment where they can pursue their objectives by overcoming problems in the corporate world.
Mayo Clinic is a reputable not-for-profit healthcare organization that handles different patient cases affecting individuals in their immediate environment. Given its size, there is a high likelihood for Mayo’s management to encounter problems ranging from insubordination from medical practitioners to claims by patients over incompetence. However, the approach used to handle these adverse outcomes exposes the pharmaceutical corporation to a vantage position where it can realize its desired objectives. Embracing leadership tactics and managerial skills determine the nature of approaches that individuals can use to discover their potential. Based on the differential treatment likely to be witnessed across Mayo Clinic’s outlets, its leadership should develop an effective strategy that guides individuals on how to execute different roles and responsibilities in the workplace. Similarly, adopting the strategic plan using techniques that appeal to the people is an effective way of promoting sustainability in the corporation.
Implementing the Strategy
Understanding the impact of introducing change in the workplace enables managers to develop a vision that is translated into actionable goals and objectives. Strategic implementation defines the activities and processes that will be used to discover the specified potential and aspirations outlined by an organization. In this case, Mayo Clinic’s goals revolve around the development of innovative medical approaches that focus on solving people’s needs. Likewise, the not-for-profit healthcare organization is determined to expose individuals to a safe environment where their needs can be addressed using viable solutions (Hinterhuber 2018). Based on the different approaches used by corporations to discover their potential, institutions might be overwhelmed by the rising inconsistency in healthcare where medical providers are encountering a series of challenges that undermine their relationship with patients in their immediate environment. By translating the conversations revolving around the planning stage, corporations can discover their potential and enhance the perspectives of individuals towards the healthcare process.
Defining the Strategy Framework
Unlike other activities, a strategy is a concept that can be integrated with every activity and process that is executed by an organization. When evaluating the issues affecting company performance, there is a need for company managers to identify specific aspects that focus on the ability of an organization to overcome emerging issues. Since company managers anticipate cooperation from employees and other stakeholders, engaging individuals on the nature of outcomes is an aspect that yields positive results because of the level of input from employees towards the realization of the company objectives (Iamratanakul 2018). At any given time, individuals should be aware of the guiding aspects that dictate the nature of interactions between business leaders and employees. Allocating duties to different parties in the workplace is one of the viable approaches that can be explored to yield positive outcomes in the business environment. Although managers are supposed to monitor the input of employees, ensuring that each individual understands the focus of an organization is the first approach that should be used to overcome challenges affecting individuals in their surroundings.
Fig 1.0 A graphical representation of the Cascade Model that is used to define a strategic framework.
Instead of developing a combined vision and mission statement, organizations are encouraged to create a singular approach that differentiates the two strategies into individual components. Many employees experience difficulties differentiating a mission from a vision statement (Hoogveld & Koster 2016). In this regard, addressing issues that will be resolved through a vision statement makes it easier for individuals to align their interests with the objectives established by an organization. When discussing strategy formulation and implementation, organizations should eliminate any aspect that can lead to confusion because of the need to accomplish the desired milestones within the expected timeframe. For this reason, Mayo Clinic can embrace a simplistic approach that resolves issues by eliminating the challenges affecting the cognitive functions of employees and other stakeholders.
Building the Company Plan
After putting the strategic framework in place, company managers should evaluate the approaches that should be taken to develop the appropriate plan for the corporation. Even though the creation of a strategic plan may differ as one interacts with different corporations, company managers should create a solution that solves their problems. By using the vision of an organization, company managers should be engaged to identify their reservations or support for the objectives of the corporation. Depending on the size of an organization, this can be done in one of the boardroom meetings or a workshop where ideas are sought on the best technique to be used to address the problem affecting individuals in their immediate environment (Naldemirci, Wolf, Elam, Lydahl, Moore, & Britten 2017). During the different engagements, the people in charge of the strategy formulation and implementation can take down notes that correspond to the changing needs of individuals in their surroundings. By aligning the views from the stakeholders with the vision of the organization, it becomes easier to accomplish various objectives that focus on improving the overall performance of the company in the business environment.
By writing the focus areas that can be exploited to discover the vision of an organization, the strategy formulation team should engage the leaders to determine the appropriate techniques that can be embraced to overcome challenges in the workplace. Importantly, the focus areas will play a significant role in identifying the best approaches individuals can use to accomplish their desired objectives. At any given time, each manager plays specific roles that contribute towards the growth and development of an organization. Engaging the team leaders to identify the challenges that affect their productivity is a useful starting point that guides the organization in the right direction (Maltseva, Klyushnikova, & Bedenko 2020). Since every team leader was assigned with a focus area to execute, the outcome of the entire planning activity should yield positive outcomes. If the results are promising, then company managers should launch the strategic plan with the hope of overcoming a persistent problem affecting individuals in their surroundings.
Defining the Company KPIs
Traditional methods of planning require companies to understand their Key Performance Indicators (KPIs) and the various approaches that can be used to accomplish them. Despite the measures undertaken by individuals in the work environment, KPIs have a significant impact on the overall performance of an organization. Notably, KPIs deliver honest feedback regarding the productivity of individuals and that of a corporation, enabling company managers to plan adequately for the unexpected outcomes. In the process of implementing strategy, company managers at Mayo Clinic should identify aspects that hinder individuals from realizing their potential. From this realization, overcoming the challenges that affect the operational performance of an organization can be achieved through the simplification of the planning process and the development of objectives that suit the interests of individuals in their immediate environment.
Each KPI should complement an objective that defines the company’s focus in the business environment. One of the approaches that can be used by individuals to discover their potential is matching a KPI with a goal that is desired by an organization in the corporate world. For instance, if an organization relies on eCommerce to connect with clients, the corresponding KPI should be measured by evaluating the number of site visits per month and the size of a mailing list (Marin Cordier, & Hameed 2016). By focusing on increasing the result by reaching more clients, a company is likely to discover its potential, which influences the perspectives of individuals towards work. Given the number of measures that can be used to achieve this milestone, individuals are particular about the need to overcome issues that hinder the discovery of various goals in the business environment.
Establishing Strategy Flow
When the workforce is aware of the approaches that can be used to overcome challenges within the organization, it becomes easier to balance their expectations towards aspects that can be used to accomplish company objectives. Establishing guidelines that remind individuals about the frequency of meetings to discuss the progress of an organization is a practical approach that defines the potential of corporations towards realizing its goals (Chaurasia, Garg, & Agarwal 2016). Importantly, the strategy formulation process should narrow down on the levels of individuals who can meet for the discussion to eliminate any instances that hinder interactions between managers and employees. By outlining the length and structure of the meetings, the vision of individuals becomes clear during their preparation for the discussions.
At this stage, Mayo Clinic can develop a new term to define the approaches that can be taken by individuals to discover their potential. Importantly, people should be informed about the small details that many individuals ignore to align their vision with that of the corporation. Based on the feedback obtained from individuals, it becomes easier for the company leadership to balance people’s expectations and overcome any forms of distraction that might slow down individual productivity (Smith, A.I.C.P. & Flaherty 2018). Since every organization has a distinct way of doing things, the strategy formulation and implementation process should not deviate from the company vision because of the need to overcome issues that hinder individuals from realizing their image in the business environment.
Link Performance Reviews to Strategy
Even though strategy formulation plays a significant role in the ability of a corporation to excel, the ability to integrate these values into the DNA of an organization determines the nature of outcomes. Importantly, different organizations might adopt a similar strategy to pursue their objectives because of the need to excel in the business environment. However, many company managers fail to integrate these strategies into their activities that define their existence in the corporate world (Madar 2016). When introducing change in the workplace, the company manages must identify proponents who believe in the new vision and can translate it to other individuals for better results. Pursuing this approach exposes an organization to an enabling environment where it can chase its vision without encountering any challenges because of the full support sources from all stakeholders.
Alternatively, Mayo Clinic is a not-for-profit health corporation, an aspect that will require its company managers to curate strategies that complement its existence in the corporate world. Many of these theories and approaches are customized for profitable organizations with the hope of expanding their service delivery and overcoming competition that emerges in the business environment (Wang & Yang 2016). Although there might be a slow uptake for the steps discussed in this section, not-for-profit organizations are expected to focus on their service delivery approaches. Connecting with the group of individuals who expect the organizations to upscale their views towards life, company managers must identify specific tactics that focus on addressing issues interfering with their existence in the business environment.
Measuring the Success of the Strategy
Selecting Metrics Carefully
The chosen action plan should identify the metrics that will be evaluated to measures the success of the formulated strategy. Company managers should understand the impact od their selected policy because of its impact on aspects such as company growth and development. Looking at the commonly used techniques, Mayo Clinic can divide the strategic plan into milestones and actionable quantity measures such as revenue and profit generation. Benchmarks may vary from one organization to another, but in line with Mayo Clinic’s operations, the organization can focus on delivering specific medical solutions within specified timelines (Simon, Volker, & Hermans 2019). Likewise, performance measures involve the success attributed to the timely introduction of medical procedures to the target audience. Based on the continuous desire to emerge victorious in the business environment, organizations should focus on the aspects that contribute towards the growth and development of corporations in the market.
Measure Variables During the Implementation Phase
Since employers expect results after implementing a strategy, company managers should identify measurable variables that project the performance of an organization in the business environment. Importantly, the process of developing a plan should be aligned with the company objectives to avoid disrupting other stakeholders who rely on the company solutions. In this regard, the preferred approach should be complemented by an objective or company goal that can be measured to depict the position of an organization in the market (Kumar & Sharma 2017). Since Mayo’s focus is improving customer experience, creating viable solutions that resolve issues affecting company interactions with other stakeholders will expose the healthcare provider to an enabling environment where it can accomplish its objectives within the specified timeframe. Being able to track the process of an organization presents the company leadership to a vantage position where it can make informed decisions that resonate with its views towards accomplishing the desired results.
Using Performance Dashboards
Company managers should understand the role of KPIs and how they can be tweaked to meet the organizational expectations towards the realization of desired performance standards. Performance dashboards are innovative platforms that meet the changing needs of individuals by exposing them to an enabling environment where they can discover their potential (Srivastava 2016). Besides, performance dashboards allow company managers to issue progress reports to the seniors and investors, who develop a close relationship with the organization because of the level of transparency in the company leadership. By using presentable data, individuals can monitor the performance of an organization and align it with the views held by individuals in their immediate environment.
Reflection and Revisiting the Strategy
Based on the objectives outlined by Mayo Clinic in the business environment, the formulation of the strategy should focus on exposing it closer to its goals. In this regard, I believe the policy made by the not-for-profit corporation is likely to introduce it to an enabling environment where specific measures can be exploited to realize their goals. Gaining a competitive advantage in the business environment requires organizations to identify aspects such as competitive staff or utilizing company resources to discover their objectives. From this realization, employees can find their potential by ensuring that the proposed strategy adheres to the stakeholder expectations and the changing needs of consumers in their immediate environment.
Sustainable competitive advantage is a concept that should be exploited because of its ability to eliminate any unexpected challenges that slow down the growth and development of an organization. Understanding the market and its segments enable company managers to make informed decisions that reflect on the need to overcome issues affecting performance in the workplace (Parniangtong 2017). developing an understanding of what the customers need cushions organizations from incurring any losses caused by the mass exodus of clients due to poor service delivery, among other shortcomings. Before delivering the value proposition, the company leadership at Mayo Clinic can identify the critical aspects of performance that influence the decision-making process in the consumer market.