Purdue University Describe the Benefits of Business Models Discussion Questions

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1 Project Transitioning and Planning 2 Implications of Nursing Shortages and High Turnover Rates Nursing shortages and turnover are worse than people think because it is quite challenging to calculate the actual turnover cost, and that cost may be 5% more than the operating budget. In a clinical setting, there is about 2-3% of net profit experienced, losing twice that much without seeing where the loss in the budget statement is could terrify the chief financial officer (Mehdaova, 2017). In addition, the loss of experienced service providers means an institutional learning loss. These experienced nurses, while they must be paid more, their mistakes are few and ensure fewer malpractice insurance claims aggregating to less liability. In addition, an organization with a churning labor force will ruin the organization’s reputation making hiring more difficult. Improving Communication as a Method of Solution Managers know that individuals get what they can measure. Therefore, through enhanced communication, it is possible to attain the improvement goal of nursing retention and adequate staffing. It provides a promising avenue for nursing leaders to build trust and empathy (Shaffer, 2020). A follow-up can be done for employees using their names and not numbers to measure retention and show that the workforce is valued as people and not commodities. Purdue University Describe the Benefits of Business Models Discussion Questions. Over some time, say five years, the organization’s Human Resources (HR) could calculate how many nurses stayed all through the five years and the ones that left before the end of the five years. The retention and turnover could be calculated and changed into percentages to determined how many new hires they lost within that five years grace period. Outcomes/Individual Responsible/Actions to Take 3 One of the outcomes to ensure effective communication, is the availability of a cadence that guarantees bottom-up and top-down communication, reviews for annual performance to manage large teams, and/or a monthly face-to-face meeting with the individual employees. The leaders/managers could check in with the nurses to gain and provide feedback where nurses could present their questions/comments/concerns. Each nurse at their nursing station should have a cadence, which is needed to be completed in order to keep the rhythm of communication effective and efficient. It eases communication by making it less sporadic and more predictable. The nursing leaders/managers would be responsible for the one-on-one meetings as well as the performance reviews. Performance reviews ensure a process of performance communication with an understanding of the competencies, goals, and expectations critical for organizational success. Particularly, the cadence establishes a means for regular communication, creating room for improved communication (effectiveness and efficiency) through predictable means. For the implementation of a cadence, the nurses could speak to the nurse leaders who will forward the suggestion to management. In this case, all nursing departments will be involved (from the Emergency Room to Pediatric Units). All departments have different nurses with different shift schedules; therefore, it will be easier for the incoming nurse to track down what is needed to be completed and still pending. The stakeholders to be involved will include the nurses filling the cadence, the nursing leader who will propose the idea to management, and management who will review the proposal and established guidelines. Management will then refer to the Procurement Team in order to secure the needed goods for the nurses to have their cadence established. After the stakeholders concede that the decision to have a cadence will improve staff communication and, in the long run, improve nursing retention rates and participation, they will then realize its 4 importance and approve the implementation of such cadence. Some of the needed resources needed for the implementation of a cadence are a hardcover book and a pen. This will cost no more than fifteen dollars a month at most. The book will be divided into four columns, patient’s names and room or bed numbers, diagnosis, workups, and a remarks section. HIPAA guidelines will of course be implemented and followed to keep patient information private and only available to team members directly involved in the patient’s care. Each team member will prepare the cadence one time. Suppose another cadence book is needed (or other material), a receipt is written and taken to the Procurement Office for the attainment of another copy of supply/supplies and in order to keep of such transaction. One milestone to set includes successful non-verbal communication; and to track this progress, communication complaints or errors could be tracked by making them known to the appropriate department. Purdue University Describe the Benefits of Business Models Discussion Questions. The project could be easily implanted within a month and monitored within the next few months for evaluation. One of the potential setbacks is the novelty of the practice, meaning changing organizational structure. However, one way to manage the risk is through adequate training on filling the cadence before use, provision of resources, and continuous education on the importance of communication (Halter et al., 2017). Another outcome is the monthly face-to-face meetings. Nurses in a clinical setting could speak with their nursing leaders to arrange monthly face-to-face meetings. The panels could be general for all nurses and sometimes departmental, depending on the pending issues. Some of the stakeholders will include nurse leaders and nurses themselves. The nurses and the nurse leaders need to decide whether monthly meetings will suffice and their importance, objectives, and how long they will take. A critical element in communication is planning; therefore, some of the resources needed may include note pads for all attendance, charts, tea and snacks, pens. A budget 5 for that will not cost more than fifty dollars per month. A milestone to be set for this outcome is successful verbal and non-verbal communication which could be tracked by the number of complaints and concerns raised. The nurses’ feedback will also provide valuable information to the outcome and be able to be tracked. If the feedback is good, it would mean successful communication and issue handling. It would take a month before the meetings are started. Overall, monitoring of the meeting will continue for the next five years to determine if communication influenced employee turnover rates. Some of the setbacks anticipated with the plan of action are excessive time wastage and be potentially unsuitable for some nurse leaders. It is important to set the rules for the meetings and agree on the suitable frequency of the meetings to manage the risks, as mentioned earlier. Budget/Roles/Responsibilities Overall enhancing internal communication could be cheap considering the outcomes in this case as follows: Outcome 1. Cadence Resources Cost Total Hardcopy book $10 $15 Pens $5 Tea and snacks $40 Charts $10 Communication 2. Monthly face-to- $50 face meetings $65 6 The roles and responsibilities earlier mentioned could be summarized as follows: Personnel 1. Nurse leaders Roles and Responsibilities Convey to the Management Team and Procurement Team sections to secure resources (hardcopy book, pens, tea and snacks, charts) 2. Nurses Fill in the cadence. Attend the monthly face to face meetings 3. Procurement Secure resources needed (hardcopy book, pens, tea and snacks, charts) Monitoring Progress There will be a Gantt chart that includes a list of all the activities and the projected time it will take for them to be completed, in order to be able to monitor progress. The chart will be a visual representation of the projected plan and projected activities over time. Modern Gantt charts will include the status and the timeline to determine the off-track actions, in order to implement swift intervention to deviate to the proposed trajectory. 7 References Halter, M., Pelone, F., Boiko, O., Beighton, C., Harris, R., Gale, J., … & Drennan, V. (2017). Interventions to reduce adult nursing turnover: a systematic review of systematic reviews. The open nursing journal, 11, 108. Mehdaova, E. (2017). Strategies to overcome the nursing shortage (Doctoral dissertation, Walden University). Shaffer, F. A. (2020). Nurse turnover: Understand it, reduce it. Retrieved from https://www.myamericannurse.com/nurse-turnover-understand-it-reduce-it/ Assignment # 1: Learning outcomes: 1. Enable the students to find some structured ways of dealing with complex managerial decision problems. (CLO1) 2. Introduce students to simple decision models and management science ideas that provide powerful and (often surprising) qualitative insights about a large spectrum of managerial problems. (CLO2) 3. Provide students with tools for deciding when and which decision models to use for the specific problems. (CLO3) 4. Give the students a feel for the kinds of problems that can be tackled using spreadsheet modeling and decision analysis. (CLO4) 5. Provide the students with more powerful ways of using spreadsheets which will be a ubiquitous tool in their managerial careers. (CLO5) Assignment Questions Answer the following questions: 1. Describe the benefits of business models. 2. Define the characteristic of well-structured problems and Ill-structured problems with one example each.
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