MSN6216 Unit 6 Discussion (dq1+dq2) Latest 2019 January

MSN6216 - Advanced Finance and Operations Management

Unit 6 Discussion

DQ1 Approach to Capital Budgets

In the final assignment for this course, you will prepare a capital budget for a proposed renovation project. For this discussion:

Explain how you will approach the process of designing the budget.

What steps will you need to take?

What resources will you access?

Will you collaborate with other executives or staff?

How will you tie the vision for the capital expenditure to the organization's mission and goals?

Describe the real-world timeline for development of a capital budget, outside the context of this course.

Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.

Response Guidelines

Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.

As you contemplate your response, consider the following questions:

How does your approach compare to that of your colleague?

What might account for major differences in approach, if any?

Does your colleague have a strong case for supporting the organization’s mission and goals?

Is your colleague’s budget development timeline reasonable?

If not, what factors might they have overlooked?

Learning Components

This activity will help you achieve the following learning components:

Identify fiscal performance goals and metrics.

Identify strategic objectives.

Determine how a department, unit, or project aligns with the mission and goals of an organization.

Identify the mission and goals of an organization.

Apply the principles of effective composition.

Identify information sources.

Proofread and edit written communications.

Determine the need for particular assets, equipment, services, or goods.

DQ2 Financial Communication Skills

Communicating your vision for a project to administrative leaders is an important skill as a nurse leader. The administration will need to understand the correlation between a proposed project, product, or service, and their overall goals. For this discussion:

Explain your approach to developing a capital budget and accompanying strategic plan for profitability and fiscal success.

What issues and challenges do you envision a nurse leader facing during the process?

Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.

Response Guidelines

Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.

As you contemplate your response, consider the following questions:

What are the strengths and weaknesses of your colleague’s approach?

What tips or suggestions can you offer?

What additional issues or challenges do you foresee?

What advice or recommendations can you offer regarding effective communications with executive leaders?

Learning Components

This activity will help you achieve the following learning components:

Identify fiscal performance goals and metrics.

Identify strategic objectives.

Identify the mission and goals of an organization.

Proofread and edit written communications.

Determine how specific equipment and services contribute to organizational goals.

Apply the principles of effective composition.

Determine how a department, unit, or project aligns with the mission and goals of an organization.