You are the laboratory manager of a medium-sized 120-bed hospital and are called to a hospital leadership meeting by the CEO of the facility. You are told that the hospital is having problems meeting some debt responsibility and there is a possibility that budgetary cutbacks will be needed to alleviate the situation. Each departmental manager is being given one week to plan how to accomplish a cost reduction of 10% within his/her department, should it become necessary. You are also told that this situation is highly confidential because it is not yet known whether the cost reduction will be needed. What type of long-range planning should be considered?

You are the laboratory manager of a medium-sized 120-bed hospital and are called to a hospital leadership meeting by the CEO of the facility. You are told that the hospital is having problems meeting some debt responsibility and there is a possibility that budgetary cutbacks will be needed to alleviate the situation. Each departmental manager is being given one week to plan how to accomplish a cost reduction of 10% within his/her department, should it become necessary. You are also told that this situation is highly confidential because it is not yet known whether the cost reduction will be needed. What type of long-range planning should be considered?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 37P

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You are the laboratory manager of a medium-sized 120-bed hospital and are called to a hospital leadership meeting by the CEO of the facility. You are told that the hospital is having problems meeting some debt responsibility and there is a possibility that budgetary cutbacks will be needed to alleviate the situation. Each departmental manager is being given one week to plan how to accomplish a cost reduction of 10% within his/her department, should it become necessary. You are also told that this situation is highly confidential because it is not yet known whether the cost reduction will be needed. Identify the steps in developing short-term goals to address the potential reduction in resources described above.
You are the laboratory manager of a medium-sized 120-bed hospital and are called to a hospital leadership meeting by the CEO of the facility. You are told that the hospital is having problems meeting some debt responsibility and there is a possibility that budgetary cutbacks will be needed to alleviate the situation. Each departmental manager is being given one week to plan how to accomplish a cost reduction of 10% within his/her department, should it become necessary. You are also told that this situation is highly confidential because it is not yet known whether the cost reduction will be needed. What criteria will you use to determine the best plan of action?
You are the Laboratory manager of a medium sized 120-bed hospital, and you are called to a hospital leadership meeting by the CEO of the facility. You are told that the hospital is having problems meeting some debt responsibility and there is possibility that a budgetary cutback will be needed to alleviate the situation. Each departmental management is being given one week to plan how to accomplish a cost reduction of 10% within his/her department. Should it become necessary. You are also told that this situation is highly confidential because it is not yet known whether the cost reduction will be needed. Issues and Questions to Consider: 1.Identify the steps in developing short0term goals to address the potential reduction in resources described above 2.What type of information will you need to gather to assess your current state and develop a plan?
You are the Laboratory manager of a medium sized 120-bed hospital, and you are called to a hospital leadership meeting by the CEO of the facility. You are told that the hospital is having problems meeting some debt responsibility and there is possibility that a budgetary cutback will be needed to alleviate the situation. Each departmental management is being given one week to plan how to accomplish a cost reduction of 10% within his/her department. Should it become necessary. You are also told that this situation is highly confidential because it is not yet known whether the cost reduction will be needed. Issues and Questions to Consider: 1.What criteria will you use to determine the best plan of action? 2.What type of long-range planning should be considered?
A recent report on executive awareness of and involvement in corporate pandemic preparedness by Michael Evangelides, principal at Deloitte Consulting LLP, most top executives and boards of directors are not engaged in the influenza pandemic planning process and won't give it equal billing to other potential disruptions until at least one of the following occurs: Media attention to pandemic influenza increases. Legislation or regulation emerges, requiring a high level of preparedness. Shareholders and investors demand a high level of preparedness. The financial impact of a pandemic on the corporation becomes evident. Obviously, planners can do little to nudge along the first three prerequisites. But, fortunately, the fourth is in their sphere of influence. And it is worth pursuing, says Penny Turnbull, senior director of crisis management and business continuity planning at Washington, DC–based Marriott International, Inc. "It certainly helps focus the minds of our senior…
A recent report on executive awareness of and involvement in corporate pandemic preparedness by Michael Evangelides, principal at Deloitte Consulting LLP, most top executives and boards of directors are not engaged in the influenza pandemic planning process and won't give it equal billing to other potential disruptions until at least one of the following occurs: Media attention to pandemic influenza increases. Legislation or regulation emerges, requiring a high level of preparedness. Shareholders and investors demand a high level of preparedness. The financial impact of a pandemic on the corporation becomes evident.
I really need help with the formulas to get the answers. Thanks! Case Study 2: Forecasting Lost Sales The Carlson Department Store suffered heavy damage when a hurricane struck on August 31, 2013. The store was closed for four months (Sept – Dec 2013) and Carlson is now involved in a dispute with its insurance company concerning the amount of lost sales during the time the store was closed. Two key issues must be resolved: The amount of sales Carlson would have made if the hurricane had not struck; and Whether Carlson is entitled to any compensation for excess sales from increased business activity after the storm More than $8 billion in federal disaster relief and insurance money came into the county, resulting in increased sales at department stores and numerous other businesses. The table below shows the sales data for the 48 months preceding the storm. The following table reports total sales for the 48 months preceding the storm for all department stores in the county, as well…
find three companies that are currently using a Balanced Scorecard by completing an internet and library database search. Your task is to identify and discuss the perspectives and key performance measures of each organization’s balanced scorecard. Discuss in as much detail as possible the specifics of the balanced scorecard that is being used by these companies. You also need to analyze the significant strengths and weaknesses of each organization’s balanced scorecard. Many companies are using the Balanced Scorecard to assist in their performance management. In a Balanced Scorecard, the company's strategy is translated into a system of performance measures that are used to monitor the company's performance in meeting its strategic objectives. Be sure to clearly document the perspectives and performance measures being used by each of the three companies. This report should include your analysis of the strengths and weaknesses of each company's balanced scorecard.
Laura is the associate director of a nonprofit agency that provides assistance to children and families. She is the head of a department that focuses on evaluating the skill-building programs the agency provides to families. She reports directly to the agency leadership. As a whole, the agency has been cautious in hiring this year because of increased competition for funding. However, they have also suffered high staff turnover. Two directors, three key research staff, and one staff person from the finance department have left.Laura has a demanding schedule that requires frequent travel; however, she supervises two managers who in turn are responsible for five staff members each, Kelly and Linda. Both managers have been appointed within the last six months.Kelly has a specific background in research. She manages staff who provide research support to another department that delivers behavioral health services to youth. Kelly supports her staff and is very organized; however, she often…
Laura is the associate director of a nonprofit agency that provides assistance to children and families. She is the head of a department that focuses on evaluating the skill-building programs the agency provides to families. She reports directly to the agency leadership. As a whole, the agency has been cautious in hiring this year because of increased competition for funding. However, they have also suffered high staff turnover. Two directors, three key research staff, and one staff person from the finance department have left.Laura has a demanding schedule that requires frequent travel; however, she supervises two managers who in turn are responsible for five staff members each, Kelly and Linda. Both managers have been appointed within the last six months.Kelly has a specific background in research. She manages staff who provide research support to another department that delivers behavioral health services to youth. Kelly supports her staff and is very organized; however, she often…
Laura is the associate director of a nonprofit agency that provides assistance to children and families. She is the head of a department that focuses on evaluating the skill-building programs the agency provides to families. She reports directly to the agency leadership. As a whole, the agency has been cautious in hiring this year because of increased competition for funding. However, they have also suffered high staff turnover. Two directors, three key research staff, and one staff person from the finance department have left.Laura has a demanding schedule that requires frequent travel; however, she supervises two managers who in turn are responsible for five staff members each, Kelly and Linda. Both managers have been appointed within the last six months.Kelly has a specific background in research. She manages staff who provide research support to another department that delivers behavioral health services to youth. Kelly supports her staff and is very organized; however, she often…
Let’s assume you are the new full time manager that the school has hired to take over running the wellness center and create 2 new programs to bring in more students/faculty to use the facilities. You’ve been given permission and budget to hire 2 assistant managers, 1 personal trainer, 2 employees (desk attendant/operations/floor coverage for safety) and 2 student workers (desk/attendant/operations). You need to create a proposal to give to the school on ways to improve the wellness center. Think: How will you market these new changes to students and faculty? What methods will you use? How much will that cost? How will you know these methods have been successful (what can you do to check this)? Provide 1 example of a marketing strategy ( flyer, instagram post, etc) Marketing Plan Method: Cost: Success measurement: Example: