Q.1.What are the specific content requirements of typical business plan model? How can a well-written business plan provide a competitive edge?
If the purpose of the business plan is to attract investment then a well-written business plan can help attract investors which would mean greater funding for the company. A well thought out business plan can even help retain suppliers and customers. The business plan is considered as that one factor which sets an organization apart from its competitors.
Q.2.Explain how health care organizations use quality improvement techniques to guide decision making? Discuss the challenges organizations encounter in applying quality improvement techniques to guide decision making.
Health care organizations can use the six sigma method of quality improvement to help guide decision making. For instance in medical labs they can use this technique to maximize equipment utilization and increase efficiency as the equipment is expensive and return on investments may be slow. Consequently, decision makers are going to screen out unnecessary steps which may be an added strain on company costs. Furthermore, root-cause analysis is going to help decision makers to identify policies which need to be revised or changed.
Quality improvement techniques cannot be generalized in the sector of health care as there is a variation in services which includes regional and small area variances. An underuse or overuse of services acts as a barrier for decision makers to be sure about how productivity can be improved. Moreover, quality improvement can be largely subjective depending on who the decision makers are; hence, decision making may be biased and not truly effective.
Q.3.What do you consider the biggest challenge as a health care operations manager regarding financial planning and budgeting? How would you address that challenge?
In an economy where financial resources are scarce the greatest challenge for a health care operations manager would be in ensuring the organization stays up-to-date with technology in a customer-driven environment. Finance departments of organizations are going to look for ways to reduce costs and not updating equipment may be a part of the cost cutting process. Convincing management about the need to stay updated with technology at the expense of high investment would eventually lead to greater returns in the long term.
As an operations manager I would shift everyone’s focus towards the external environment and those factors which support my proposition of staying updated with technological advancements. I would make the budget planners understand that a short-term investment will yield higher returns in the future, hence, the proposition should be undertaken.
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