How can a foundation trust develop a strong, flexible strategic framework to deal with recession and unknown future challenges?
When recession struck, this foundation trust’s forecast budget fell to a projected deficit of millions of pounds over the next few years. The executive team were faced with the need to conduct a fundamental review of the trust’s business and rethink their strategy in the light of changed economic conditions.
The chief executive and her team wanted to formulate a five-year strategic framework that took account of different scenarios and their risks and implications. The trust needed a radically different core purpose, vision, strategic objectives and business model.
TEN LTD worked intensively with the chief executive and her team to support them by providing an inspiring environment, rigorous process and leadership coaching.
Through a mixture of desk work, workshops and other activity, TEN LTD helped the leaders challenge long held assumptions about the nature of acute trusts and the competitive environment they operate in and to clarify their thinking about future direction.
The team now has a clear perspective and vision for the trust that includes expanding service provision radically beyond the hospital gate and divesting itself of some services while acquiring others. They are meeting the financial challenge facing them through genuine transformation rather than rudimentary cost cutting.