For your first topic in this conference I would like for you to briefly review either your personal experiences and/or the financial literature to identify and present a description of one actual capital project/product failure and the reasons attributed to the failure. For those of you who do not have personal experiences the following are some illustrated examples of failed projects/products over the last 50 years you may want to look up and consider: -New Coke,- The Iridium Satellite Communication,- the Edsel automobile, Beta (vs. VHS), the Concord SST, and various Dot Coms. Feel free to research others.

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1) For your first topic in this conference I would like for you to briefly review either your personal experiences and/or the financial literature to identify and present a description of one actual capital project/product failure and the reasons attributed to the failure. For those of you who do not have personal experiences the following are some illustrated examples of failed projects/products over the last 50 years you may want to look up and consider: -New Coke,- The Iridium Satellite Communication,- the Edsel automobile, Beta (vs. VHS), the Concord SST, and various Dot Coms. Feel free to research others.

In your response please provide financial information regarding the project (what is available): initial outlay, projected cash flows, final dollar losses.

Remember this is a one to two paragraph exercise – do not go overboard – a few hours research and summation is all that’s required. I am interested only in your short, concise description of the project and the major reasons you believe it failed.

2) Synthesize your one-paragraph position on what 3-5 specific factors you believe most likely to contribute to capital project analysis failure.

 

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Describe a decision-making process for employees with two different strengths. Determine how the process might be approached differently for each employee to produce the best results. Use scenarios to convey your idea.

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Imagine your manager has requested that everyone in the company take the StrengthsFinder test. Now, your manager has asked you to put together a training tool on how to best coach and develop employees in the decision making process who have varied strengths.

 

Write a three to five (3-5) page document for your manager in which you:

 

  1. Describe a decision-making process for employees with two different strengths. Determine how the process might be approached differently for each employee to produce the best results. Use scenarios to convey your idea.
  2. Explain how a manager could develop employees with different strengths. Use scenarios to convey your idea.
  3. Format your assignment according to the following formatting requirements:
    1. Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
    2. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.

 

The specific course learning outcomes associated with this assignment are:

 

  • Explain the decision-making process management uses to develop viable courses of action to a variety of management situations.
  • Explain the multiple aspects of the managerial planning process and the application of various business- and corporate-level strategies.
  • Use technology and information resources to research issues in management concepts.
  • Write clearly and concisely about management concepts using proper writing mechanics.

 

 

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Create a Word or Rich Text Format (RTF) document that is double-spaced, 12-point font.  The final product will be between 5-7 pages in length excluding the title page and reference page.

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Project :  Assessing Self and Potential Candidates

Purpose: 

In the second assignment, students continue working with Global Delivery Direct (GDD).  Students learn about their own personality type and based on what is learned, rank several candidates who have applied for the position of CEO and develop interview questions based on leadership quality and personality types.

Outcome Met by Completing This Assignment

·        use leadership theories, assessment tools, and an understanding of the role of ethics, values, and attitudes to evaluate and enhance personal leadership skills

In this assignment, students will take the Myers-Briggs Personality Assessment, learn about candidates for the position of CEO for Mail on Wheels and develop interview questions that will be used by Alex Cheng.

Instructions

Step 1:  Create a Word or Rich Text Format (RTF) document that is double-spaced, 12-point font.  The final product will be between 5-7 pages in length excluding the title page and reference page.

Step 2:  Review the grading rubric for the assignment.

Step 3:  In addition to providing an introduction, students will use headings following this format:

·        Title page with title, your name, the course, the instructor’s name;

·        Results of Myers-Briggs Personality Test

·        Ranking of CEO Candidates

·        Top Candidates

·        Interview Questions

Step 4:  In writing a case study, the writing is in the third person.  What this means is that there are no words such as “I, me, my, we, or us” (first person writing), nor is there use of “you or your” (second person writing).  If uncertain how to write in the third person, view this link:  http://www.quickanddirtytips.com/education/grammar/first-second-and-third-person.  Also note that students are not to provide personal commentary.

Step 5:  In writing this assignment, students are expected to support the reasoning using in-text citations and a reference list.  If any material is used from a source document, it must be cited and referenced.  A reference within a reference list cannot exist without an associated in-text citation and vice versa.  View the sample APA paper under Week 1 content.

Step 7:  In writing this assignment, students will use resources from the course material and no more than 3 external source documents.  NOTE:  The expectation is that students provide a robust use of the course material including the material presented in this assignment.

Step 8:  In completing the assignment, students are expected to use the facts from the case study paired with the weekly courses readings to develop the analysis.  The case study is not cited or referenced.

Step 9: In writing this assignment, students are expected to paraphrase and not use direct quotes.

Step 12:  Read critically and analyze the following scenario:

Scenario: Having bought the business from Alex Cheng, owner and CEO of Mail on Wheels, who decided not to stay on in a leadership capacity, Rockfish now has to hire a replacement for Alex Cheng. Rockfish is looking for a candidate who knows the business, can present a good corporate image (i.e., to the bigger clients who are more likely to pay for the custom service), is well-educated, and will lead the existing group with a balance of firmness and give enough freedom to creatively personalize fulfillment of each client’s needs.  Since you are the manager with whom Cheng’s replacement will have the most contact, Rockfish has decided that you should participate in the call back interview. Further he has given you his interview notes on each candidate and wants you to rank them on a scale of 1 to 5, with 5 being the best fit, so that he has some idea going into the interview what your “on paper” reaction is to each candidate.

Here are his notes on each candidate:

 

Candidate One- Henrietta Raynard

Henrietta was the assistant to Alex Cheng.  She is 28 years old with 3 years of college. She currently is finishing her degree online at UMUC. Henrietta is a Business Administration major.  She is friendly and has a quiet demeanor.  Her Myers-Briggs personality test ranked her as an ISTJ. She has received high marks from Cheng who says she is detailed oriented, had a good understanding of the business organization and seemed to work well with the younger staff.  She did not tolerate much nonsense from people, hated surprises, and wanted people to be brief in talking with her.  These personality traits meant she could at times be cold to customers whose demands she believed were unfounded or unrealistic.  Cheng did not see this as bad per se because he thought he was too pleasing sometimes.  After all, he was in the business to make money.  Overall, Cheng felt that she could handle the job.  Rockfish’s personal impressions were that she was hesitant in joining a bigger company.  She liked the smallness of a business and felt in control.  She did like the collaborative environment of GDD and responded well to the idea that her opinions and suggestions were welcome at all times. Her reasons for wanting the job centered mainly on the idea that she felt she could run the business well and had some good ideas about making the mobile units better using the advanced technology that Cheng wanted. The technology would allow for better connections to GDD allowing deadlines to be met faster.  When asked how the staff perceived her, she laughed and said they called her “Type A”. but then to some of the people I work with, anyone who shows up for a meeting early is a “Type A.” Rockfish noted that during this statement, it was only one of two times during the interview that she held my gaze for any length of time.”  When asked what characteristics she thought a leader needed to succeed in the 21st century she replied, “…objective, practical, controlled and fair”. Her knowledge of the business was sound.  She seemed to not know a lot about how GDD was operating.

 

Candidate Two- Orson Hernandez

Hernandez currently manages the local Kinko’s store. He has remained loyal to the company even after the merger.  However, he feels that the store’s image, culture, and mission have changed dramatically since the merger.  He enjoys working with a customer until they were satisfied and regrets having to short change the time he spends with customers today.  He also feels that the company culture has become more rigid.  Hernandez’s Myers-Briggs personality test showed him as an ENFP.  He could be very ebullient. At times, he was not sure of the facts. When asked what characteristics he thought a leader needed to succeed in the 21st century, he replied, “…flexible, compassionate, insightful and honest”.  Hernandez seemed to understand the idea of a mobile packaging store and was aware that Cheng’s company was becoming a strong competitor for his small business customers.  He liked the clan culture at GDD and showed signs of having done his homework on the company.  When asked how he created followers among his employees, Hernandez replied that he liked to use incentive motivational techniques and would sometimes empower workers if they showed the ability to manage others well.  He was not aware of how his workers perceived his leadership style, which he characterized as being diplomatic.  He liked to be in agreement with people and to be flexible.  He enjoyed surprises.  Hernandez has a B.A. in art history. Overall impression: able to do the job well.

 

Candidate Three- Jonathan Livingston

Graduated from UMUC’s MBA program two years ago! Currently works for the IT department at UPS.  This is a job he obtained right out of the military.  Livingston entered the interview room all smiles and with a firm handshake. I was impressed by the firm handshake and the eye contact throughout the interview.  Livingston was very prepared to discuss both companies having visited them both prior to the interview.  Livingston had also read about GDD online and spoke with current employees.  He also mentioned looking at Glass Doors as well.  Livingston’s knowledge of the delivery/cargo business was extensive having worked with UPS for 6 years in IT. His Myers-Briggs personality test gave him an ETP with a split SN.   Livingston indicated that he was the team leader in his current job and was content with the organization.  However, his current job could not lead him to a career position in management.  He felt confident that he could handle the new job as leader of the mobile division.  Livingston said his leadership style was situational with a little transformational thrown in.  General impression: great candidate but maybe more qualified than the job entailed.  Too good to be true???!

 

Candidate Four-Adrianna Coyote

Graduate of Blackfeet Community College in Browning, Montana with an AA in business studies.  Coyote went to work with GDD part-time straight out of college. She took time off to have a family and is now managing the GDD airport station of the Ontario Hub.  Having read about the opportunity through the GDD’s HR division website, Coyote was excited to have the opportunity to move forward in her career.  She is quite familiar with GDD shipping methods, deadlines, and policy. Coyote has many innovative ideas besides the mobile vans that would encourage the business boutique market.  The Myers-Briggs test scored her primarily as an Extrovert with some Introvert influence, N intuition Thinking, Perceiving.  Coyote’s evaluations are superior and she works well with her team.  Her colleagues suggest that she is flexible and a people-first person. She does not always make decisions with data; sometimes her decisions are based more on feelings.

Coyote is an attractive woman but does not present herself as well as she could.  Her eye contact is good and she comes off very authentic.  However, her use of English is not always good.  She describes her leadership style as transformational. Her team seems to concur. She has little knowledge of the mobile business but has researched Mail on Wheels and looked at the business.  General impression of candidate: could do the job but worried about the impression she may make on the bigger customers who were more likely to spend the money on boutique service. Overall impression: strong candidate.

Required Elements for this project: Part 1

·        As was noted earlier Rockfish has decided that you should participate in the call back interview because he realizes that you will be working with the new CEO the most and is anxious to get your input in the decision.  Prior to participating in the interview, Rockfish wants you to rank each candidate based on his interview notes so that you can give him some idea going into the interview as to what your “fresh eyes” reaction is to each candidate. Using Rockfish’s notes rank each candidate using a scale of 1 to 5, with 5 being the best fit and 1 being the worst fit for the company.  Explain you’re the reasoning for the ranking. 

 

·        He has also given you two articles that he wants you to read because they will help explain the Myers-Briggs personality types that he referenced. They are:

 

 Read:  Effects of Each Preference in Work Situations

·        http://webcache.googleusercontent.com/search?q=cache:o8DCcCnzS24J:www.mass.gov/eopss/docs/dfs/fiu/interview-work-preferences.doc+&cd=1&hl=en&ct=clnk&gl=us

 

and

 

Read:  Preferred Methods of Communication

http://www.csun.edu/~hcpsy002/Type_Methods_Communication.pdf

 

 

 Part 2

·        As you are the manager who will be working with the newly hired candidate, you also want to get a person in the position that will work well with you and will fit the organization. Identify your personality type, the effects of the type preferences in a workplace situation and preferred methods of communication by taking the following Myers-Briggs Personality test:

 

·         Take the Free Personality Test at: https://www.16personalities.com/intj-personality

 

 

·        Once you have taken the quiz compare your results against those of the candidates and select the top two people whom you will work the best. Explain the reasons for your conclusions and support.

 

·        Now that you have completed a pre-interview evaluation of the candidates, both for yourself and for Rockfish, create at least three interview questions for each candidate. These questions should address points about individual leadership “people skills” that the candidates need and that have not been addressed by Rockfish’s notes, and that are important to you working with the new person. Refrain from typical HR questions like where do you see yourself in five years?

 

Create the introductory paragraph.  Within this paragraph, provide a brief overview of the scenario.  Then, provide a thesis statement and tell the reader the main topics covered in the paper.  The introductory paragraph is the first paragraph of the paper but is typically written after writing the body of the paper (Questions students responded to above)

 

Respond to the questions in Part One and Part Two following the format provided.  Be clear and concise in the writing and make sure the questions are comprehensively answered.

 

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Create a Word or Rich Text Format (RTF) document that is double-spaced, 12-point font.  The final product will be between 6-8 pages in length excluding the title page and reference page.

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Project :

Purpose: 

The saga of Global Delivery Direct (GDD) continues in assignment 3.  Students evaluate 21stcentury leadership challenges and relate them to the issues GDD has been experiencing.

Outcome Met by Completing This Assignment

·        use leadership theories, assessment tools, and an understanding of the role of ethics, values, and attitudes to evaluate and enhance personal leadership skills

·        develop and implement methods for establishing a constructive organizational structure and culture that fosters positive employee and employer relationships

·        evaluate the culture and policies of an organization to recommend and implement improvements that support its vision, success, and sustainability

·        assess the interactions between the external environment and the organization to foster responsible and effective leadership and organizational practices

Instructions

 

Step 2:  Create a Word or Rich Text Format (RTF) document that is double-spaced, 12-point font.  The final product will be between 6-8 pages in length excluding the title page and reference page.

Step 3:  Review the grading rubric for the assignment.

Step 4:  As a leadership consultant, students will write a memo addressed to the four Executive Directors.  The memo should be presented as a professional document.  To learn how to write a business memo, view:  https://owl.english.purdue.edu/owl/resource/590/04/

Step 5:  In writing a case study, the writing is in the third person.  What this means is that there are no words such as “I, me, my, we, or us” (first person writing), nor is there use of “you or your” (second person writing).  If uncertain how to write in the third person, view this link:  http://www.quickanddirtytips.com/education/grammar/first-second-and-third-person.  Also note that students are not to provide personal commentary.

Step 6:  In writing this assignment, students are expected to support the reasoning using in-text citations and a reference list.  If any material is used from a source document, it must be cited and referenced.  A reference within a reference list cannot exist without an associated in-text citation and vice versa.  View the sample APA paper under Week 1 content.

Step 7:  In writing this assignment, students will use resources from the course material and no more than 3 external source documents.  NOTE:  The expectation is that students provide a robust use of the course material including the material presented in this assignment.

Step 8:  In completing the assignment, students are expected to use the facts from the case study paired with the weekly courses readings to develop the analysis.  The case study is not cited or referenced.

Step 9: In writing this assignment, students are expected to paraphrase and not use direct quotes.  Students are expected to paraphrase, which can be learned by reviewing this link:   https://writing.wisc.edu/Handbook/QPA_paraphrase2.html

Step 10:  Read and use the Global Delivery Direct (GDD) Company Profile.

Step 11:  Read critically and analyze the following scenario:

Scenario:

An emergency meeting was called in London by John Smythe Heathering, the Executive Director of Corporate Services, when the 2015 numbers came out for the business.  Sales dropped 7% overall in a quarterly downward spiral with the largest portion of decline having been in the American division at 3.8%.  The move to “Business First” in America prevented the loss from being as great as 6.5%.  This change helped but not enough to overcome the full 6.5%. The competition continues to make inroads into the business not just in America but Asia as well.

The purpose of the emergency meeting is to discuss the decline in sales and make whatever decisions necessary to reverse the trend with immediate implementation.  The question before the group is how do we reverse the downward trend?  A competitive edge is necessary.  As 21st century leaders, the Executive Directors realize that five challenges have to be examined if they are to find ways keep the company running at a profit.  Further, they know that as company leaders they will have to lead the change required to make the recommendations work.

In the emergency meeting, the Directors decided that they needed professional help. They turn to you, a leadership consultant to help them discover ways in which they can improve sales of the company and set the company up for long term financial health.

Required Elements for Assignment 3:

·        Students will write a business memo that:

o   Explains each leadership challenge facing the 21st century leader: adaptability, sustainability, innovation, knowledge management, and globalization and the relationship each has to developing a competitive edge in business today;

o   Evaluates GDD’s current status regarding each of these challenges;

o   After completing the analysis of the business, make at least two practical recommendations for each leadership challenge that will put GDD on the path to financial success and explain the reasoning for doing so;

o   Selects one of the challenges for which you made recommendations and explain how the Executive Directors, as change agents, will go about implementing the recommendations made.

Step 12:  Respond to the questions following the format provided.  Be clear and concise in the writing and make sure the questions are comprehensively answered.

Step 13:  Using the grading rubric as a comparison, read through the paper to ensure all required elements are presented.

Step 14:  Proofread the paper for spelling and grammatical issues, and third person writing.

Use the spell and grammar check in Word as a first measure

Attachments:
 

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Write a paper of 700- to 1,050-words in which you discuss the roles of law and courts in today’s business environment.  Differentiate the federal court structure with your state’s court structure. – NEW JERSEY  Discuss the concept of judicial review.

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Write a paper of 700- to 1,050-words in which you discuss the roles of law and courts in today’s business environment.

  • Differentiate the federal court structure with your state’s court structure. – NEW JERSEY
  • Discuss the concept of judicial review.
  • Explain how laws or regulations affect your present job or industry.
  • Describe various forms of Alternative Dispute Resolution (ADR) and discuss how this is different from the court system.
  • Properly cite to at least three peer-reviewed references.

Format your paper consistent with APA guidelines. 

Click the Assignment Files tab to submit your assignment

 

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Using the stages listed above, create a demographic and environmental timeline for one industrialized country, excluding the United States. The following are a few suggested industrialized nations: Canada England Germany Russia

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Assignment 2: Demographic Transitions

Demographic transition is the process in which a nation transitions from being a less industrialized society, with high birth and death rates, to an industrialized nation, with lower birth and death rates. Many countries have already been through this transition including the United States, England, and Canada.

The demographic transition to an industrialized society is detrimental for the environment because industrialized societies tend to use up nonrenewable resources and give off pollution. Industrialized nations have the largest ecological and carbon footprint relative to developing or nonindustrialized countries. Fortunately, there are some benefits to the process of demographic transition, including lower birth and death rates. Essentially, people in industrialized countries have fewer children and this in turn helps control the overall population size.

Demographic transition involves the following five stages:

Stage 1 High birth rate, high death rate, low population size
Stage 2
High birth rate, decreasing death rate, increasing population size

Stage 3 Decreasing birth rate, decreasing death rate, increasing population size
Stage 4 Low birth rate, low death rate, high population size
Stage 5 Low birth rate, low death rate, population size decreasing
It should be noted that stage 5 is controversial, and it is sometimes not considered to be a stage. This is partially because so few countries are at this stage.

The following graph depicts the various stages of demographic transition:

Using the stages listed above, create a demographic and environmental timeline for one industrialized country, excluding the United States. The following are a few suggested industrialized nations:

Canada
England
Germany
Russia
Italy
You can download the Demographic and Environmental Timeline—United States of America to review an example of such a timeline.

Include the following points in your timeline in order to examine the advantages and drawbacks of demographic transition in your selected country:

Major historical changes that caused the shift from one stage to another (if available).
Changing population size through time (increasing or decreasing).
Increase or decrease of birth and death rates through time—particularly when considering the process of industrialization.
Environmental impact of this transition.
Dates (if available), series of events, and scholarly references for these items.
Support your timeline with appropriate examples and a minimum of three credible resources.

Present your timeline in a media that best displays the information you researched. This can be in Microsoft Word, or Microsoft PowerPoint. Apply APA standards to citation of

 

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Select separate products as an example of each of the stages of the Product Life Cycle concept. Provide evidence to support your position. Identify the marketing characteristics that are present for that particular life cycle stage with the product you selected.

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Products tend to go through certain stages during their life on the market. There are particular marketing characteristics associated with each stage of this cycle. Identify products that best represent each particular stage. Support your selection with evidence characteristic of that particular stage.

Identify current products that are on the market today and discuss the following:

  • Select separate products as an example of each of the stages of the Product Life Cycle concept.
  • Provide evidence to support your position. Identify the marketing characteristics that are present for that particular life cycle stage with the product you selected.
  • Please try not to select a product that has already been posted by another student.
  • Challenge/ confirm other students’ responses with evidence of your own.

Be sure to provide supporting evidence for your statements.

Write your initial response in a minimum of 200–300 words. Apply a standard business writing style (headers/ sub heads/ bullets) to your work but be sure to cite your work in the APA format.

By Saturday, December 3, 2016, submit your response to the appropriate Discussion Area. Use the same Discussion Area to comment on your classmates’ submissions until Wednesday, December 7, 2016.

Comment on how your classmates would address differing views.

 

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Design and format a 10 – 15 slide Microsoft PowerPoint presentation on one of the learning objectives found in the Getting Started – This Week’s Activities folder for this week.  The requirements below must be met for your presentation to be accepted and graded: Design and format each slide for a presentation, see example below.

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Please complete ONE of the following assignments, incorporating ideas and concepts from the week’s lecture and/or articles. Please feel free to incorporate outside resources as well. When submitting your assignment, please indicate which of the three options you have chosen. For Options 2 and 3, please make sure to double space your papers.

Option 1: Get Creative

Design and format a 10 – 15 slide Microsoft PowerPoint presentation on one of the learning objectives found in the Getting Started – This Week’s Activities folder for this week.  The requirements below must be met for your presentation to be accepted and graded:

  • Design and format each slide for a presentation, see example below.
  • The notes sections must total a minimum of 250 words for the entire presentation.  Use these sections to explain and support information provided on your slides.
  • Include a cover slide and reference slide (these slides do not count toward the 10 – 15 slide requirement).
  • At least 60% of your paper must be original content/writing.
  • No more than 40% of your content/information may come from references.
  • Use at least two references from outside the course material, preferably from EBSCOhost.  Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
  • Identify sources on slides that contain reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) and list them on a reference slide.

Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be from sources like scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc.  Sources such as Wikis, Yahoo Answers, eHow, blogs, etc. are not acceptable.

A detailed explanation of how to cite a source using APA can be found here (link).

Download a PowerPoint example here

Option 2: News Flash

Choose an article from EBSCOhost that relates to at least one of the learning objectives found in the Getting Started – This Week’s Activities folder for this week.  You must summarize the article, and explain the connection between the article and at least one learning objective.  Clearly state the learning objective(s) in the introduction.

The requirements below must be met for your News Flash to be accepted and graded:

  • Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
  • Attempt APA style, see example below.
  • Use font size 12 and 1” margins.
  • Include a cover page and reference page.
  • At least 60% of your paper must be original content/writing.
  • No more than 40% of your content/information may come from references.
  • Include at least one external reference other than the article being summarized, preferably from EBSCOhost.  Text book, lectures, and other materials in the course may be used, but are not considered an external reference.
  • Identify reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) in the body of the paper and list them on a reference page.

Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as scholarly journals found in EBSCOhost, online newspapers such as, The Wall Street Journal, government websites, etc.  Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.

A detailed explanation of how to cite a source using APA can be found here (link).

Download a News Flash example here

Option 3: Traditional Paper

Research and discuss the basic theories of motivation as well as a description of what they are.

The requirements below must be met for your paper to be accepted and graded:

  • Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
  • Attempt APA style, see example below.
  • Use font size 12 and 1” margins.
  • Include cover page and reference page.
  • At least 60% of your paper must be original content/writing.
  • No more than 40% of your content/information may come from references.
  • Use at least two references from outside the course material, preferably from EBSCOhost.  Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.

Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc.  Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.

A detailed explanation of how to cite a source using APA can be found here (link).

 

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To prepare for this Assignment, review the Week 7 Assignment document provided to you by the Instructor. Examine the budgeted and actual revenues and expenses for a hospital. Reflect on concepts of budgeting and variance. Refer to Chapter 10 and Chapter 11 of Financial Management of Health Care Organizations: An Introduction to Fundamental Tools, Concepts and Applications in this week’s Learning Resources for additional guidance.

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Budgeting is an important activity within every healthcare organization. The particular challenges encountered, however, can vary depending on the type of organization. A state or federally funded organization, for example, will likely have a budget that is allocated to it, and it needs to follow specific guidelines on how the money can be used. A for-profit organization, by contrast, will typically have more influence and flexibility in setting up its budget and making choices on matters such as how much to spend on marketing, patient care, or incentives for employees.

In addition to preparing budgets, as a healthcare administrator, you must also be able to evaluate whether or not you have achieved your budget using variance analysis. This is important because variance analysis measures the differences between the budget and actual results, and provides administrators with a starting point for correcting financial performance. For this Assignment, you conduct a variance analysis for a healthcare organization.

To prepare for this Assignment, review the Week 7 Assignment document provided to you by the Instructor. Examine the budgeted and actual revenues and expenses for a hospital. Reflect on concepts of budgeting and variance. Refer to Chapter 10 and Chapter 11 of Financial Management of Health Care Organizations: An Introduction to Fundamental Tools, Concepts and Applications in this week’s Learning Resources for additional guidance.

The Assignment

Using an Excel spreadsheet to show your calculations, address the following:

  • Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable?
  • Determine the total variance between the planned and actual budgets for Patient Days. Is the variance favorable or unfavorable?
  • Determine the service-related variance for Surgical Volume.
  • Determine the service-related variance for Patient Days.
  • Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate, and the actual Surgical Revenues.
  • Prepare a flexible budget estimate. Present a side-by-side budget, flexible budget estimate, and the actual Patient Expenses.
  • Determine what variances are due to change in volume and what variances are due to change in rates.

General Guidance on Assignment Length: Refer to the Week 7 Assignment Rubric for grading elements and criteria. Your Instructor will use the rubric to assess your work.

 

 

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