Topic: Diversity in the Healthcare Industry: Importance, Benefits, Value and Effects on Minorities. Develop the Financial Plan of your proposed solution.
Topic: Diversity in the Healthcare Industry: Importance, Benefits, Value and Effects on Minorities
Develop the Financial Plan of your proposed solution.
Because this is a course in a MBA Capstone Research Project, we must always analyze the financial aspect of any strategic decision. Therefore your analysis is expected to be quantitative as well as qualitative.
The cases discussed throughout the MBA curriculum can give you some good ideas of what kind of information to include in your Research Project.
Additionally, use the textbook for MGT516, Strategic Management as guide (especially Chapter 12.A Resources for Case Research and 12.B Case Study
Analysis Methodology using the Strategic Audit).
Finally, your recommendations as a consultant should have included only few of the 54 (or less) Strategic Segmented SBAs.
As a consultant you should be thinking of an entrepreneurial venture that involves those SBAs and can be started with a capital investment not exceeding $1 million USD (If more capital is needed, please indicate it in your paper).
Therefore, you will submit the financial plan of your proposed solution (SBAs with more Future Prospects and Future Competitive Position Potential) using Financial pro-formas. For example: income statement with assumptions detailed, start-up costs for the first six months of operation – inventory, rent, etc. Or, a Case Study Analysis Methodology using the Strategic Audit.
Diversity is important in any field, and the nursing industry is an exceptional example of why. The patient demographic is as diverse as this country’s population. An ethnically and culturally diverse applicant pool leads to more diverse and culturally sensitive healthcare providers — and happier, healthier patients. What’s more, studies have shown that diverse groups are better problem solvers and are more prepared, which is very important in healthcare.
Our nation is made up of people of varied national origins, ages, religious affiliations, languages, genders, sexual orientations, disabilities, socioeconomic and occupational statuses, and geographical locations, among many other traits. Education is not a one-size-fits all solution, but a diversified nursing student body gets the ball rolling on a more inclusive and re workplace and overall healthcare industry.
When a nurse recognizes cultural sensitivities, they can be proactive about helping patients with personal and cultural practices. Patients may have a particular cultural background or language barrier that affects the provider’s approach. For example, an Iraqi woman wearing a hijaab might appreciate seeing a female doctor who would know to draw the curtains and take other steps to prioritize modesty.
Patients need to feel comfortable and at ease with their healthcare providers in order to establish good communication, and therefore good care. Poor communication can lead to misdiagnosis on a provider’s part, or a patient misunderstanding their treatment plan — so it’s easy to see why healthcare providers should be representative of the community they care for.
Having one’s background understood and respected not only improves patient care, it also improves patient satisfaction. A provider who understands a patient’s unique background is in a better position to explain test results or a diagnosis. And a patient who feels their provider represents them is more empowered to ask questions and be assertive — and likelier to follow the provider’s advice down the road, leading to a better outcome.
We know economics and limited access often go hand in hand. People who live in economically challenged areas typically have less access to healthcare. Providers with minority backgrounds go on to work in diverse areas at higher rates. This improves the doctor-to-patient ratio, granting better healthcare access to underserved populations and, again, improving outcomes.
Another attribute that contributes to diversity is age range. Many of Joyce’s students are not of traditional college age and include working parents, single-income households, and people changing careers — many of whom are not able to be in a classroom all day. Online learning is a key for bringing diversity to the healthcare profession.