You have just been hired as practice manager for a single-physician family practice. The practice has never had a budget, and your new boss asks that you prepare one for the upcoming year. What steps do you take to prepare and manage a budget for the practice?
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You have just been hired as practice manager for a single-physician family practice. The practice has never had a budget, and your new boss asks that you prepare one for the upcoming year.
What steps do you take to prepare and manage a budget for the practice?
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- Assume you are working for a Human Resource Department in a leading apparel company in Sri Lanka. Your board of directors have instructed you to initiate a management trainee programme to hire 10 talented management undergraduates to the organization. Assume you have already advertised this opportunity and you have received 1000 applications. Based on the information above, draft a proposal for the board of directors on how you will be selecting 10 individuals from the pool of applicants and how you would do the induction process for them. Budget approved for these activities are Rs. 2 000 000.00 1) Induction ProgrammeAfter you have presented your proposal to hospital administration, and it has been accepted, you are informed that the impending cost reductions will need to be implemented. You are told to meet with your supervisory staff to organize the implementation of your plan. The CEO will be holding hospital employee briefings beginning the next afternoon to provide the employees with an overview of the situation confronting the hospital. Over the next two to three days, you will be meeting with your supervisory staff and then with the laboratory employees to provide additional detail specifically as it pertains to the laboratory and its staff. Your goals are to have your employees fully understand the situation and its implications, allow them to communicate their thoughts and concerns, and to finally accomplish buy-in from the staff regarding the proposal you must implement. Question: What areas of collaboration or coordination, if any, will be needed with the supervisory staff, pathology…After you have presented your proposal to hospital administration, and it has been accepted, you are informed that the impending cost reductions will need to be implemented. You are told to meet with your supervisory staff to organize the implementation of your plan. The CEO will be holding hospital employee briefings beginning the next afternoon to provide the employees with an overview of the situation confronting the hospital. Over the next two to three days, you will be meeting with your supervisory staff and then with the laboratory employees to provide additional detail specifically as it pertains to the laboratory and its staff. Your goals are to have your employees fully understand the situation and its implications, allow them to communicate their thoughts and concerns, and to finally accomplish buy-in from the staff regarding the proposal you must implement. Question: What are the various means of communication that could be used in this situation? Which one(s) is chosen…
- After you have presented your proposal to hospital administration, and it has been accepted, you are informed that the impending cost reductions will need to be implemented. You are told to meet with your supervisory staff to organize the implementation of your plan. The CEO will be holding hospital employee briefings beginning the next afternoon to provide the employees with an overview of the situation confronting the hospital. Over the next two to three days, you will be meeting with your supervisory staff and then with the laboratory employees to provide additional detail specifically as it pertains to the laboratory and its staff. Your goals are to have your employees fully understand the situation and its implications, allow them to communicate their thoughts and concerns, and to finally accomplish buy-in from the staff regarding the proposal you must implement. Question: What steps or functions are key to organizing the plan for implementation? Who needs to be included in…What staff will you require for pharmacy? What skills will they need (make sure they are bona fide requirements). Write 1 job descriptions for one of the positions that you require to run your business. You might have listed more jobs above in #2 that are required to run the business but you only need to write 1 job description. Write the job ad for this job descriptions. Think about what information individuals want to know in a job ad. Be creative, you want to attract the best talent. Best practice in recruitment has you design your recruitment strategy before you have candidates apply for a job. What will your recruitment process look like to ensure you are getting the best candidate for the position? Write 3 Behaviour Based Interview Questions that you want to ask the candidates, be sure to include a scoring guide and desired answers.explain the risks of not creating or including a budget as part of a program plan
- Discuss why the numbers found on a balance sheet and an income statement may not be enough to properly evaluate the performance of a business.Discuss any differences between the budgeting process of a company and budgeting process of a government.You are in your last semester of college and have been looking for a job. You have registered with the placement office and posted your résumé online, but the jobs that are available leave a bit to be desired. In one of your classes you overhear a classmate, Alex, talking about an interview he had last week. Alex said that he really wanted the job but didn’t think his interview went particularly well. He is currently waiting to hear back from the employer. As Alex was describing the position, you thought it sounded very interesting, but you wondered if it would be right for you to pursue the position since Alex had found it first. Question: Do you have any obligation to tell Alex if you apply for the job?
- You have recently become Head of Finance at Bhawan & Company, a company which provides catering services to the public sector. Your previous employer was Asama & Company where, as finance manager, you had the opportunity to work on areas relating to financial accounting, procurement, contracts, and bids. One of Company Bhawan & Company’s major contracts is with Asama & Company. The contract is now up for renewal, and Company Bhawan & Company is preparing a competitive bid for this contract. You have been asked to lead the team responsible for bidding for this contract. You also suspect that your knowledge and experience of Asama & Company were good reasons for appointing you to the position at Bhawan & Company. You do not want to let your new employer down. The loss of such a major contract would have a significant effect on the financial performance of Bhawan & Company and its performance-related bonus scheme for management. Is there a threat of…You have recently become Head of Finance at Bhawan & Company, a company which provides catering services to the public sector. Your previous employer was Asama & Company where, as finance manager, you had the opportunity to work on areas relating to financial accounting,procurement, contracts, and bids. One of Company Bhawan & Company’s major contracts is with Asama & Company. The contract is now up for renewal, and Company Bhawan & Company is preparing a competitive bid for this contract. You have been asked to lead the team responsiblefor bidding for this contract. You also suspect that your knowledge and experience of Asama & Company were good reasons for appointing you to the position at Bhawan & Company. You do not want to let your new employer down. The loss of such a major contract would have a significant effect on the financial performance of Bhawan & Company and its performance-related bonus scheme for management. - is there the professional…You are finance director in a public sector organization that has experienced difficulty attracting and retaining skilled staff. To assist in overcoming this problem, the board has engaged a consultant to recommend an improved benefits structure, to apply to all staff. The consultant has produced his report, and you have been asked to consider the proposed staff benefits structure, and make appropriate recommendations to the board. You study the report, conduct appropriate research, and assess the costs involved. You conclude that it will be necessary to increase staff costs, but you believe these will be offset by the efficiencies brought about by recruiting and retaining high-quality staff. The report contains the following recommendations: Benefits should be related to the length of service of members of staff. After one year of continuous employment, a member of staff will qualify for private health insurance. Private health insurance should cover the member of staff and his or her…