Discussion Post #1: Explain how a business risk analysis can help protect the business from the impact of changes in the internal and external environment of the business.
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.(150 words)
Discussion Post #2:Topic: Inventory and Pricing
Describe the process of inventory management and how it impacts and is related to the role of a health care manager. Explain the conceptual approach for pricing individual services. What is scenario analysis, and why is it so critical to good pricing decisions?
(150 Words)
Then 4(50-100) word responses to the following discussion posts
DP#1: Business Risk Analysis is defined as seeking ways to identify, measure and mitigate various risk exposures or hazards facing an investment, project or business. Having a business risk analysis is vital in any organization/business. Without performing or taking any/all preventative risk measures seriously, an entity will fail drastically as they’re leaving themselves open to “total-risk.”
Because internal and external factors vary depending on the industry, there is no right way to assess risk. However, there are some general guidelines to follow (2020, Christiansen).
Identifying Risks
Weighing Cost to Benefit
Risk Value = Probability of Event x Cost of Event
Create a Management Strategy
Determine Controls
Review Risk Analysis
Reference
Christiansen, Lauren (2020, August 7). How to Conduct a Business Risk Analysis. https://zipreporting.com/en/business-analysis/business-risk-analysis.html
DP#2: Good afternoon Class,
Business risk analysis are useful to help businesses by mitigating and preventing risks from changes in the internal and external environments. According to Kaplan and Mikes (2012), companies face three categories of risk: 1) preventable risks, 2) strategy risks, and 3) external risks. Risks can and cannot be preventable, avoidable, and predictable. Business risks analysis help by monitoring operational processes and people’s behaviors and decisions made from organizational leadership. Other risks can be from things such as the COVID-19 pandemic, economics, and natural disasters. Analyzing risks and reevaluating those risks help protect businesses and its people. Business risks analysis help to identified risks along the way.
Regards,
Carlos
References
Kaplan, R., & Mikes, A. (June 2012). Managing Risks: A New Framework. Harvard Business Review. Retrieved from https://hbr.org/2012/06/managing-risks-a-new-framework
DP#3: Hello classmates,
The process of inventory management is to help keep track of your health system inventory, purchases, orders and payments. The impact of inventory management is to enhanced competitive advantage and improved organizational performance. The conceptual approach for pricing individual services is to ensure that your costs can be covered and you can earn a profit based on how many procedures you do a year. A scenario analysis is a project risk analysis technique that examines alternative outcomes.
https://www.zoho.com
https://www.gethealthie.com
DP#4: Hello all,
The entire goal of inventory management, especially in healthcare is to find the means to provide critical care to its patients and ensure employees posses the means to provide such care (Schmidt, 2022). In the midst of providing such care, it is important to factor in purchases, inventory and the designs attached to inventory management (Schmidt, 2022).
Managers are ought to keep a cost-based pricing approach and a competition-based pricing approach. These approaches allow a break analysis and the overall going-rate for the product. In the end, managers are to be focus on the intended needs for the facility, its development and what is to improve the facility’s performance, both with patients needs and employees’ tools (Schmidt, 2022.
* Schmidt, C (2022). Point of Use Hospital Inventory Management With Inaccurate Usage Capture. Retrieved from www.ncbi.nlm.nih.gov
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