Nr533 Week 8 Touchpoint Reflection: Finance, Budgets, and Business Plans-“Oh my!”
Nr533 Week 8. Guidelines for Touchpoint Reflections
A downloadable version of the guidelines, which includes further information, is available for access on the Course Resources page.
Reflection Information
This is the final week of discussion and there are two important areas of reflection included in this discussion. Please label each area with a heading to facilitate classmate and instructor response.
EXPERIENCE
Post your executive summary.
Compare your pre-and post-self-assessments.
REFLECTION
Discuss the strengths and weaknesses to the business plan for your final proposal.
Identify areas of strength and weakness related to financial and budgeting principles.
IMPLICATIONS FOR THE FUTURE
What adjustments are needed for you to create the most compelling plan?
What concepts from the course do you need to study further?
What is your plan for enhancing your knowledge of finance and budgets in the healthcare organization?
Nr533 Week 8 Touchpoint Reflection Answer
Before undertaking this course, my understanding and proficiency in financial management and budgeting, particularly in the context of implementing organizational change and business planning, were limited. Today, I can confidently assert that I have significantly augmented my knowledge across crucial areas of finance and budget management. Through this learning journey, I have identified both strengths and weaknesses in my grasp of business planning, financial management, and budgeting. It is my aspiration to address these areas of improvement to craft an outstanding project proposal that not only enhances healthcare delivery but also contributes to substantial organizational cost savings.Nr533 Week 8 Touchpoint Reflection
In the realm of business planning, several strengths have been cultivated, foremost among them being the adeptness to align the business plan with the organizational philosophy, mission, vision, and strategic plans. This strategic alignment, as emphasized by reputable sources such as Kaplan and Norton (1996), ensures a cohesive and synergistic approach to organizational development. Additionally, I have acquired proficiency in conducting a comprehensive Strengths, Weaknesses, Opportunities, Threats (SWOT) analysis, a critical skill in the formulation, construction, and maintenance of a robust business plan (Kotler, Kartajaya, & Setiawan, 2010).
Furthermore, my knowledge base extends to intricate aspects of financial management and budgeting, encompassing essential principles and methodologies. These competencies, inspired by the principles outlined by Brigham and Ehrhardt (2013), form a solid foundation for effective financial decision-making within the organizational context.Nr533 Week 8 Touchpoint Reflection
As I embark on refining my strengths and addressing weaknesses, I am poised to deliver a project proposal that not only reflects a nuanced understanding of financial intricacies but also translates into tangible improvements in healthcare delivery. This journey is not merely about acquiring knowledge but about leveraging it to bring about meaningful change, and I am committed to navigating this path with diligence and dedication.Nr533 Week 8 Touchpoint Reflection
