Posted: December 28th, 2022
SWOT and cost Analysis Essay.
A SWOT analysis provides an opportunity for an organization to consider its own strengths and weaknesses. It also requires a look at the organization’s environment, to consider opportunities and threats. A SWOT analysis can be a powerful tool to help leaders make decisions about which ideas to pursue as opportunities based on their current strengths and what is happening (or projected to happen) in the environment in which they operate. SWOT and cost Analysis Essay.
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This week, you examine how nurse leaders can use SWOT analyses to strengthen the business case for a proposed idea. You also examine how SWOT analyses can be combined with cost analyses to help provide insight that can impact budgets. Learning Objectives Students will: Analyze the drivers of revenues and operating costs Analyze the drivers of revenues and operating costs for healthcare products and service solutions Learning Resources Required Readings (click to expand/reduce) Note: To access this week’s library resources, please click on the link to the Course Readings List found in your Syllabus. Penner, S. J. (2016). Economics and financial management for nurses and nurse leaders (3rd ed.). New York, NY: Springer Publishing Company. Chapter 8, “Reporting and Managing Budgets” (pp. 111–136) Chapter 9, “Budget Planning” (pp. 141–161) Ramsey, Z., Palter, J. S., Hardwick, J., Moskoff, J., Christian, E. L., & Bailitz, J. (2018). Decreased nursing staffing adversely affects emergency department throughput metrics. Western Journal of Emergency Medicine: Integrating Emergency Care with Population Health, 19(3), 496–500. doi:10.5811/westjem.2018.1.36327 Stonehouse, D. (2018). SWOT: What is it all about and how do you use it? British Journal of Healthcare Assistants, 12(12), 617–619. doi:10.12968/bjha.2018.12.12.617 Required Media (click to expand/reduce) Using and Understanding Financial Analysis Tools Examine some of the financial analysis tools that are employed by nurse leaders to help inform decision-making for nursing practice.SWOT and cost Analysis Essay. Consider how these tools help nurse leaders make decisions to support both organizational performance and positive patient outcomes. (5m) Accessible player Discussion: SWOT and Cost Analysis How well do you know your organization? Many of us spend a great deal of time at our workplace, and this often leads us to feel that we know the organization very well. But when it comes to organizational familiarity, there are several levels of understanding. Leaders faced with decisions about investing resources often use tools such as SWOT and cost analyses to truly reflect on the company and on the appropriateness and potential of an investment. Photo Credit: Getty Images/Blend Images In this Discussion, you will examine the use of these tools. You will reflect on your own proposal, and on the costs and potential revenue streams or other benefits associated with a healthcare product or service. You will also consider the environment in which your organization operates and potential relevant opportunities and threats. To Prepare Reflect on the strengths, weaknesses, opportunities, and threats associated with the healthcare product or service you have proposed. Reflect on the costs and potential revenue streams associated with the healthcare product or service you have proposed.SWOT and cost Analysis Essay. By Day 3 of Week 7 Post a brief description of what you believe to be the strengths, weaknesses, opportunities, and threats of the healthcare product or service you have proposed. Also include a statement considering where costs and revenues fall in your SWOT analysis. Are their weaknesses associated with the costs? In other words, are the costs high enough to represent budgetary issues? Do potential revenue streams represent a strength? Consult with your internal finance counselor, as appropriate.SWOT and cost Analysis Essay.
The proposed health service is telemedicine, as a tool that can improve a broad range of health care process to include health research and education, disease prevention, treatment, and diagnosis. SWOT analysis was conducted for telemedicine. The SWOT analysis reveals four strengths. Firstly, the nation has an advanced information and communication technology (ICT) sector that is efficient and highly competent. Secondly, the health authorities have established regulatory bodies to ensure that only competent products are availed, while ensuring information safety, privacy and security. Thirdly, there is highly developed medical practice and knowledge. Fourthly, there is increased motivation for training and education on medical informatics with competent learning programs. The SWOT analysis reveals four weaknesses. The first weakness is interoperability difficulties as different products are available in the market. The second weakness is the lack of laws to govern telemedicine and ehealth practice. The third weakness is lack of social/patient awareness of telemedicine and lack of ehealth training among medical personnel. The fourth weakness is low income per capita, which will affect access to telemedicine networks(Penner, 2016; Stonehouse, 2018). The SWOT analysis reveals four opportunities. Firstly, case studies on telemedicine that could act as examples and guides on how to proceed with the implementation. SWOT and cost Analysis Essay.Secondly, availability of funding schemes targeting ehealth. Thirdly, new trends are seeing information and communication technologies (ICT) being increasingly applied in health care. Fourthly, ICT operators are presenting telemedicine business initiative and models. The SWOT analysis reveals four threats. The first threat is unavailability of user friendly, multilingual and cross-platform telemedicine applications/technologies. The second threat is that there is no stakeholders’ commitment to take responsibility in using telemedicine. The third threat is the unavailability of a strategic plan to incorporate telemedicine and ehealth in the medical education systems. The fourth threat is the lack of a sustainable business model for telemedicine and limited support from the government (Penner, 2016; Stonehouse, 2018).SWOT and cost Analysis Essay.
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