What information should be included in a financial forecast accompanying a strategic plan and why?© BrainMass Inc. brainmass.com October 24, 2018, 8:11 pm ad1c9bdddf
Key financial components in a strategic plan is :
It should include forecasted financial statements. Financial statements are useful tools for evaluating both profitability and liquidity. Used separately, or in combination, the income statement and balance sheet help interested parties to measure a company's current financial performance, and to forecast its profit and cash flow potential. Profitability is an increase in stockholders' equity resulting from revenue exceeding expenses, whereas liquidity refers to a company's ability to meet its cash obligations as they come due. Thus it will include profitability Forecast, Balance sheet and Income statement.
It should also include Net present value analysis, NPV is defined as the difference between an investment's market value and its cost. It is only a good investment if it makes money for the company so a positive NPV will be needed. The projects can be ranked ...
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Coronado Medical Center: Key Components of a Strategic Plan
You have been hired as the Health Manager for Coronado Medical Center. The Senior Medical Director is concerned that the Primary Care Unit of the medical center is highly inefficient, staff morale is low, and patient satisfaction ratings are disappointing. You have been hired to provide leadership and administrative direction for the Primary Care Unit, which provides age- and developmentally-appropriate services to infants, children, adolescents, and the elderly. You have been asked to oversee day-to-day operations of the Primary Unit, with the goal of identifying the primary sources of Coronado's problems in efficiency, staff morale, and patient care. The Senior Medical Director hopes that you can turn things around at Coronado by improving its image, increasing the quality of care within the practical constraints of financial accountability, and generally enhancing the overall organizational milieu at Coronado Medical Center.
One role you will take to help assess and improve these areas is to participate in the Strategic Planning Committee, which is responsible for assessing, analyzing, and communicating organizational goals and objectives to staff. This committee will also assess the organizational structure, culture, management policies and procedures, staffing and professional development issues, as well as programs of delivery to determine the most effective way to increase morale, improve patient care, and increase efficiency. In addition, you have been asked to head the Ethics Subcommittee of the Strategic Planning Committee, which is investigating the trade-offs between quality of care and financial accountability and their implications.View Full Posting Details