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MHA 570 SLP MODULE 4 IMPLEMENTING AND MONITORING STRATEGIC ACHIEVEMENT
Coursework Instructions:
Module 4 - SLP
IMPLEMENTING AND MONITORING STRATEGIC ACHIEVEMENT
Once strategic planning is completed and the goals and objectives ready to implement, the process is not yet complete. The deployment of the goals and objectives to the operating and program units is the step that requires tremendous communication and coordination efforts (Cox, Plati, & Moran, 2014). It is here that the process of tracking the planβs implementation begins because we have to ensure that we are delivering what we set out to accomplish.
Cox, G., Planti, A., & Moran, J. (2014).How to effectively track the implementation of your strategic plans. Retrieved from https://www(dot)processexcellencenetwork(dot)com/tools-technologies/articles/effective-tracking-of-your-strategic-plan-s-implem
For your Module 4 SLP, research the use of Gantt Charts and Balance Scorecards as monitoring tools for strategic plans. In a 3-page paper, explain the effective use and the misuse of these tools. In your paper, discuss the advantages of using external consultants to complete and monitor a strategic plan. Identify the challenges presented when using external consultants.
In your scholarly paper, you should include an introduction and conclusion paragraph.
SLP Assignment Expectations
Conduct additional research to gather sufficient information to justify/support your analysis.
Limit your response to a maximum of 3 pages, not including the title or reference pages.
Support your paper with peer-reviewed articles, with at least 3 references. Use the following link for additional information on how to recognize peer-reviewed journals:
Angelo State University Library. (n.d.).Library guides: How to recognize peer-reviewed (refereed) journals. Retrieved from https://www(dot)angelo(dot)edu/services/library/handouts/peerrev.php
You may use the following source to assist in formatting your assignment:
Purdue Online Writing Lab. (n.d.). General APA guidelines. Retrieved from https://owl(dot)english(dot)purdue(dot)edu/owl/resource/560/01/
For additional information on reliability of sources, review the following source:
Georgetown University Library. (n.d.). Evaluating internet resources. Retrieved from https://www(dot)library(dot)georgetown(dot)edu/tutorials/research-guides/evaluating-internet-content
This assignment will be graded based on the content in the rubric.
Module 4 - Background
IMPLEMENTING AND MONITORING STRATEGIC ACHIEVEMENT
Required Reading
Walston, S. L. (2018). Chapter 12: Organizational structure and strategy. In Strategic healthcare management: Planning and execution (2nd ed.). [Books24x7 version]. Available in the Trident Online Library via the Skillsoft database link.
Walston, S. L. (2018). Chapter 13: Strategic change management. In Strategic healthcare management: Planning and execution (2nd ed.). [Books24x7 version]. Available in the Trident Online Library via the Skillsoft database link.
Walston, S. L. (2018). Chapter 14: Strategic leadership. In Strategic healthcare management: Planning and execution (2nd ed.). [Books24x7 version]. Available in the Trident Online Library via the Skillsoft database link.
Walston, S. L. (2018). Chapter 15: Implementing, monitoring, and evaluating strategy. In Strategic healthcare management: Planning and execution (2nd ed.). [Books24x7 version]. Available in the Trident Online Library via the Skillsoft database link.
Optional Reading
Harrison, J. P. (2016). Chapter 8: Communicating the strategic plan. In Essentials of strategic planning in healthcare (2nd ed.) [Books24x7 version]. Available in the Trident Online Library via the Skillsoft database link.
Coursework Sample Content Preview:
MHA 570 SLP Module 4 Implementing and Monitoring Strategic Achievement
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Contemporary organizations leverage robust strategic plans that entail their goals and objectives in order to achieve success and sustainability. Deploying strategic goals and objectives necessitates implementing significant coordination and communication efforts within and outside the organization. This paper discusses the effective use and misuse of such tools as Gantt Charts and Balanced Scoreboards in tracking strategic plans. It also examines the advantages and disadvantages of involving external consultants in completing and monitoring a strategic plan.
Effective Use and Misuse of Gantt Charts and Balanced Scorecards
Gantt Chart is a project management tool used to monitor project status. They are bar charts that represent the schedule of various projects, including dates of starting and completion and completion percentages. They communicate the onset and end of a project, critical dependencies, and project status (Walston, 2018). These charts are vital for organizations in understanding project workflow and interdependencies by breaking the strategic plan into small manageable portions with dates. They ensure that the progress aligns with the original work, considering they offer real-time updates (Oladigbolu et al., 2022). Their graphic representation facilitates the identification of delays and challenges and, thus, the modification of timetables and resource allocation. However, Gantt Charts are prone to misuse since stakeholders may interpret these charts as static and fail to update them. Such may cause poor decision-making, leading to delays in solving pertinent problems (Cox et al., 2014). Also, stakeholders may misuse these charts by relying on the initial plan at the expense of flexibility. Strategic plans will require changes as time passes and the project encounters unexpected changes or opportunities. Adhering to the initial Gantt Chart may lead to organizations missing opportunities or encountering challenges (Turner, 2020).
Balanced Scorecard is an evaluative tool that most organizations use to explain benchmarking and data trending. They help companies to incorporate a holistic approach into their strategic results. Thi...
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