A Business Plan for Texas Medical Center Nursing
Leadership Institute
MGMT 6300, University of Houston, Victoria
Presented by:
Kavitha Gopal
Joseph Babaian
Venkat Santharaman
Rohan Thomas
Bukola Kemi Ajayi
Delphine Mbachu
&
Rachel Akita
Presentation Overview
 Address the Need for a Nursing Leadership Institute
 Vision, Mission, and Premiere Nursing Institute
 Competitor Analysis
 Objectives of the Nursing Leadership Institute
 Target Market Analysis
 Pricing Strategy
 Products and Services
 Location or Place
 Promotional Strategy
 Financial Projection
 Implementation of the Business Plan
Texas Medical Center Nursing Leadership Institute
Need For A Leadership Institute For Nursing Professionals
A Growing Trend in the Nursing Profession
Texas Medical Center Nursing Leadership Institute
Justifying The Need For A Leadership Institute For Nursing Professionals
Highest Nursing or Nursing Related Education Preparation Regionally and Nationally
Texas Medical Center Nursing Leadership Institute
Forces of Change Driving the Need For Nurse Leaders
Management is doing things right; leadership is doing the right things – Peter Drucker
Shift in demographics, predict the surge in demand for medical care associated with the aging
population.
Adapt to keep pace with changes in healthcare industry related to costs, and local and
national policies -- Affordable Care Act, EMRs, ICD-10
Opportunity to use existing and new technology creatively to improve the practice of
nursing. (Robotics, RFID, automation).
As key players in patient care, Nurses must become involved in organizational decisionmaking on issues impacting clinical care : Clinical and corporate governance Workforce
planning, Clinical and business policies
Goal of any healthcare organization should be to improve and influence the quality of patient
care through compassion and good nursing leadership.
Business savvy clinical practitioners + Patient focused business professionals = Healthcare transformation
Texas Medical Center Nursing Leadership Institute
The Premier Nursing Leadership Institute at Texas Medical Center
Vision
To create and nurture an inter-institutional learning community of nurse leaders and
educators that builds on our long history of excellence and commitment to the highest
standards in education, research and practice in the Texas Medical Center and to expand this
legacy of innovation and collaboration for global impact.
Mission
The Texas Medical Center Chief Executive Council is a strategic alliance of nurse leaders in
both service and education who collaboratively work to advance nursing practice and the
delivery of health care.
Goal – become world renowned as a – Premier Nursing Leadership Institute
Elevating the practice and profession of nursing through inter-institutional collaboration,
cross-disciplinary interactions, and providing superior opportunities for leadership training
and advancement.
Texas Medical Center Nursing Leadership Institute
SWOT Analysis of Competitors
Texas Medical Center Nursing Leadership Institute
SWOT Analysis of Competitors (Cont.)
Texas Medical Center Nursing Leadership Institute
What Have We Gathered Based On Research So Far?
There are:
 Institutions catering to generic leadership education. Example: Center for Creative Leadership
 Individual facilities that have a small component of the leadership initiative geared more towards
education and empowerment of top level nurses: Example: Baylor RN Leadership Academy
 Executive Leadership Programs such as the ones offered by Berkeley that are geared towards all
generic industries and offer short workshops. Example : Berkeley Executive Leadership Program
 Fellowship programs for top tier executive nurses: Example: Robert Wood Johnson
Implication:
1.
These industry players are just a fragment of our vision. They are niche players and house a very
small component of what we strive to achieve.
2.
In general most programs lack flexibility and do not offer practical clinical based leadership
education.
3.
Most importantly these efforts are independent and not inter-institutional efforts. For instance,
Baylor's efforts are limited to Baylor. What we need is an inter-institutional and inter-professional
collaborative effort joining the resources, knowledge and funding to enhance education, research
and leadership across institutions and industry practitioners. The Nursing leadership Institute at
TMC will be such an effort.
Texas Medical Center Nursing Leadership Institute
Objectives Of The Nursing Leadership Institute
Developing an intensive leadership program through strategic alliance and strategic network –
An inter-institutional collaboration in education, practice and research.
Leadership
Through
Education
Practice
•
Develop critical thinking,
problem solving, build and
refine skills through
“boot-camps”
•
Establish a worldrenowned Nursing
Leadership Institute.
•
• Develop inter-institutional and
inter-professional
collaborative workflow
processes to increase efficiency
and effectiveness of the clinical
practice.
•
Empower all tiers of
nursing professionals
through trans-disciplinary
leadership programs.
Establish metrics and models
of patient care consistent with
legislative and regulatory
guidelines.
• Emphasize cross-functional
communication networks.
Research
• Synergize research
initiatives identified by
the NEC among the
institutions.
• Transition current
clinical trials into
research opportunities.
• Collaborate and expand
inter-disciplinary
research and
scholarship.
• Anticipate and prepare for new
healthcare reforms.
Development of a Successful Career
Texas Medical Center Nursing Leadership Institute
Core Competency – Multi-Tier Leadership Program Via Inter-Institutional Collaboration
Organizational Leaders
Tier 5 Leaders
• Financial Management
• Business Development
• Clinical and corporate governance
Tier 5 Nursing Leaders
Executive
Tier 4 leaders
• Cognitive and analytical skills
• Emotional Intelligence
• Cross functional & Inter-disciplinary (Nurses –
Doctors-Administration) Management
Functional Leaders
Tier 4 Nursing Leaders
Effective Leader
Tier 3 Leaders
• Organize resources
• Enhance performance
improvement
• Improve workplace efficiency &
effectiveness
Tier 3 Nursing Leaders
Competent Manager
Leading Managers
Tier 2 Leaders
• Relationship Management
• Inter-institutional (NursesNurses) collaboration
• Diversity Management
Tier 2 Nursing Leaders
Contributing team member
Leading Others
Tier 1 Leaders
• Empowerment
• Personal & Professional
accountability
• Productive & knowledgeable
Tier 1 Nursing Leaders
Highly capable Individual
Texas Medical Center Nursing Leadership Institute
Leading Self
Local, Regional, National Target Market for the Nursing Leadership Institute
National
Hospitals
(25,927)
National
Nurses
(3,221,510)
Regional
Hospitals
(374)
Regional
Nurses
(175,191)
Texas
Medical
Center
Hospitals
(14)
Texas
Medical
Center
Nurses
(11,338)
Hospitals: Locally, regionally and nationally
National
Nursing
Schools
(1,937)
Regional
Nursing
Schools
(96)
Nurses: Locally, regionally and nationally
Texas Medical
Center
Nursing
Schools
(6)
Nursing Schools and programs : Locally, regionally and nationally
Texas Medical Center Nursing Leadership Institute
Global Target Market for the Nursing Leadership Institute
Africa 802,076
Western Pacific
3,575,524
Eastern
Mediterranean
773,040
Europe
6,020,074
Americas
4,510,636
South East Asia
1,867,409
Distribution of Nurses Globally
Texas Medical Center Nursing Leadership Institute
Pricing Strategy For the Nurse Leadership Institute
Snapshot of competitor pricing
The Institute for John
Hopkins Nursing
Colorado Center for
Nursing Excellence
Center for Creative
Leadership
$3,200
$882
$4000 - $11,900
Leadership Development
Online
Face-to-face
Clinical Education
Online
Face-to-face
$0 - $1900
$1,900
$840
Evidence-based practice
Online
$0 - $25
Face-to-face
$840
Research
Online
Face-to-face
$0
$1,500
• Pricing should be based on a differentiation strategy emphasizing value creation or value added by
attending a Premier Nursing leadership Institute.
• Low pricing is associated with lack of quality and high pricing may deter consumers.
• Pricing and positioning would therefore be based on evaluation of overall cost of competitor’s price
(neither too low nor too high).
• Price penetration strategy : Offer combination of both premiere priced products and packages and some
economically priced products to reach wide variety of audience.
Texas Medical Center Nursing Leadership Institute
Snapshot of Products & Services That Can Be Offered
Objectives of the Offerings
Leadership
Practice
Research
Education
Products and Services Offered
Price
• Creating leaders who can anticipate and
react to changes in health care and reforms.
• Government Leadership Development
Program (premium package)
$9,899
• Leaders who can reach across disciplines
and institutions
• Border Spanning Leadership Programs
(premium package)
$6,799
• Enhancing team work, collaboration and
communication.
• High Performance Enhancement program.
$3599
• Managing issues with diverse workforce
and Issues related to nursing shortages
• Workforce enhancement and diversity
management program
$2999
• Engaging and communicating key issues to
all stakeholders including Physicians.
• Trans-disciplinary collaboration program.
$3299
• Research and disseminate new concepts in
Nursing
• Nursing Profession Evolution Program
$2299
• Convert clinical trials to nursing research
opportunities.
• Nursing Research Co-ordination Program
$1999
• Keeping pace with new development in
technology and healthcare.
• Seminars and workshops (economic
product)
$999
• Continuing education for enhancing
knowledge and skills.
• Certification Programs (economic
product)
$99
• Boot camps to improving quality, and
enhancing safety and efficiency on the
practice
• Total Quality Management Program
(TQM) (economic product)
$999
Texas Medical Center Nursing Leadership Institute
Place/Locational Considerations
Renovate
•
•
•
Existing space such as a
TMC facility is available
in suitable location but
may need configuration.
Funds are available for
renovation
Temporary space is
available during
renovation, or
occupancy is not urgent
Lease
•
•
•
•
•
Suitable facility is
available for lease
Space need is urgent
Plans for future
expansion
Consider Budget
No suitable leased space
available
Buy
•
•
•
•
•
No suitable leased space
available
Purchase option is
available for reasonable
price
Location and size is
suitable
Acquisition costs are
within budget
Property can be
acquired in time to meet
institute’s needs
Build
•
•
•
Suitable Site (TMC or
third party) is available
to build
Need is not immediate,
or can be met
temporarily by other
space
Funding is available for
construction and
operation
Factors to Consider in choosing a location:
• Location: Where in the Texas Medical Center should the institute be located?
• Space: How much space should be devoted to the facility?
• Urgency of Needs: When is the institute expected to begin operations?
• Funding Availability: How much money is available to procure site, or lease space?
• Cost: How much will it cost to renovate, lease, buy or build?
• Flexibility: Will the space accommodate future growth and expansion plans?
Texas Medical Center Nursing Leadership Institute
Promotional Strategies
Brand Extension: Leverage the association with Texas Medical center to improve odds of success,
reduce cost of launch, and build on a image that is already well accepted by the public.
 Nursing Leadership Institute Website: A website highlighting the value added by attending the
Nursing Leadership Institute to attract local, regional, national and international audience.

Viral marketing using social networking media : Social media such as Facebook, Twitter, LinkedIn
can be used to leverage the TMC brand and create awareness of the Nursing leadership institute
worldwide.
 Online Advertising: Advertising online on websites devoted to healthcare and career, frequented by
target audience.
 Sponsoring events (Conferences and Workshops) : Sponsoring in-house and third party events and
community workshops and conferences could help create more brand awareness.
 Co-branding with reputed Universities: Forming alliances with nationally and internationally known
educational facilities can enhance image and also leverage expert knowledge.
 Traditional mass media: Advertisements on Television, Radio, Health magazines and Billboards could
be used to promote the Nursing Leadership institute.
 Public Relations strategies: Press releases, media interviews, newsletters, feature articles can also
help in creating more brand awareness.
Texas Medical Center Nursing Leadership Institute
Suggested Organizational Structure
Texas Medical Center Nursing Leadership Institute
Advisory Board
(Council of Nurse Executives)
Director
Administrative
Assistant
Program
Manager
Practice &
Research
Coordinator
Education &
Training
Coordinator
Business
Development
Coordinator
Human
Resource
Specialist
Information
Technology
Specialist
Texas Medical Center Nursing Leadership Institute
Financial – Manpower Planning for Operations and Capital Budget up to Launch
Manpower Planning
Project Phase
1. Director - $150K
2. Program Manager - $90K
Operational Phase
3. Information Technology Specialist - $70K
4. Education and Training Coordinator- $70K
5. Business Development Coordinator - $70 K
6. Practice and Research Coordinator-- $70K
7. Human Resource Specialist – $70K
8. Administrative Assistant – $40K
Total Annual Salaries - $630,000
Capital
Budget
$ Amount
Furniture &
Fixtures
100,000
Computer and
office
stationary
50,000
Course
Development
Cost
150,000
Initial
Marketing
150,000
Project
Salaries up to
Launch
150,000
Web Site
Development
50,000
Total Capital
Budget
650,000
Texas Medical Center Nursing Leadership Institute
Projected Time Line For The Project
Project Description
1.
Number of Months
Project Report Preparation
3 Months
2. Approval of Project & Funds Allocation
3 Months
3. Getting Permits and Clearances
3 Months
4.
3 Months
Course Development / Recruitment / Program Launch/
Marketing
(Most Activities are parallel)
Total Project Period
1 Year
Expected Open Date
2013 January
Texas Medical Center Nursing Leadership Institute
Financial Projection Summary After Launch
Revenue Budget
Year 1
Year 2
Year 3
Salaries & Benefits
630,000
636,300
642,663
Event Based
Trainers Fees
300,000
303,000
306,030
Other Training
Cost (Facility
Rentals Etc.)
300,000
303,000
306,030
Administrative
Cost
150,000
151,500
153,015
Sales &
Advertisement
240,000
242,400
244,824
Total Annual Exp.
1,620,000
1,636,200
1,652,562
Total Training
Income
1,204,023
1,444,828
1,878,276
Expected
(Deficit)/Surplus
(415,977)
(191,372)
225,714
Break-even ~ 2.5 yrs.
Assumptions :
• Training Income based on 80 premium packages priced at $9899, 40 programs priced at $6799, 32
products priced at $3599, and 25 economic products priced at $999.
• Growth of expenses at 1% and revenue at 20% and 30% for year 2 and 3.
Texas Medical Center Nursing Leadership Institute
Critical Steps to Implement the Business Plan
Project Champion / Executive Management Support
Clearly Define Vision & Objectives
Stakeholder Engagement and Involvement
Strategic Planning
S.M.A.R.T Expectation
Hire & Retain Competent Staff
Define Milestones
Implementation
Take Ownership of Program
Monitor, Control and Feedback
Texas Medical Center Nursing Leadership Institute
Thank You