Financial Reporting: Posted by Dawn

Financial statements reflect the impact different business transactions have on a company or business. The three financial statements, income statement, balance sheet, and statement of cash flows are all connected and dependent on each other. The income statement, sometimes known as the profit or loss statement has a direct link to the balance sheet and cash flow statement. It reflects the increase or decrease in net assets of a company or business resulting from a profit. It primarily focuses on a company’s revenues and expenses during a stated time period. Expenses are directed subtracted from the revenues to reveal the profit or loss which is the net income.The balance sheet provides an overview of a company or businesses assets, liabilities, and equity in a snapshot of time. Typically this snapshot of time coincides with the company’s fiscal year (Murphy, 2019). The balance sheet also identifies how assets are funded such as with debt or liabilities, or equity such as capital. The balance sheet includes accounts receivables and cash. Lastly is the cash flow statement. The cash flow statement represents how well a company generates cash needed to meet its financial obligations, daily operational expenses, and future investments. This helps identify if a business has enough available cash on hand to stay afloat.

These reports are very helpful and tell a lot of important information about a company and its financial health. These reports used together help leadership and investors to make financial projections that can help make decisions about the future of the company.

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Reference

Murphy, C. (2019).Financial Statements.Retrieved from https://www.investopia.com/terms/f/financial-statements.asp

Substance abuse Mod 7 response minimum of 50 words

Posted by Jacqueline

The topic of controlled drinking is one that I have become very familiar while doing research and learning for the class group project. From the research and articles I have read, an addiction to alcohol does not always depend on the amount you consume. In fact, an article published by Adi Jaffe makes a similar comparison. He mentions that the amount of alcohol or drug use is not a part of the definition of addiction (Jaffe, 2011). With that in mind, having a “controlled drinking” habit cannot be a goal of curing addiction because addiction is much more.

Those who struggle with addiction may join treatments that require them to be totally abstinent from drugs and alcohol (Jaffe, 2011). This means limiting or eliminating one’s drug intake, and for some, this is not the issue. Being a social drinker or a controlled drinker does not free your from the title of being an “addict.” The issue with addiction is the dependency people fall into. Not being able to function daily without a drink is an addiction, whether it be two drinks or six drinks. The is the issue I find with thinking that “controlled drinking” is the goal or a solution to alcohol addiction.

References

Hester, Delaney, & Campbell (2011). ModerateDrinking.com and Moderation Management: Outcomes of a Randomized Clinical Trial With Non-Dependent Problem Drinkers. Journal of Counseling and Psychology.

Substance abuse Mod 7 response minimum of 50 words

Posted by Chelsea

I think that when it is expressed that someone is dependent on alcohol, controlled or “social” drinking is out of the question. I don’t know that I would say that the polar opposite of addiction is controlled drinking because I feel that no drinking would be the complete opposite. However, addiction to me means that one is abusing a substance in a way that it harms themselves, their relations around them, and becomes crippling in many aspects of their life. Controlled drinking allows a person the ability to know when enough is enough, and therefore avoid the act of drinking from interfering with their everyday life functions and relationships. I think it would be difficult to foresee a heroin-dependent person using socially only, if this was even acceptable. Of course, its easier to debate this issue because we are talking about alcohol and its easily accessible, socially accessible, and either we or someone we know does it without any reason for concern. This issue is when someone who has an addiction or is dependent on alcohol not having the will power to only have one drink.

Strategic Planning Mod 7 Response

Failure in Transition from Planning to Implementation

Posted by Julia

Failure rates within strategic plan implementation are often quite high. Fifty to ninety percent of strategic plan’s fail during the implementation phase (Candido & Santos, 2015). One of the main reasons for this high rate of failure is lack of communication between leadership and all of the members of an organization (Candido & Santos, 2015). For strategic plans to be effectively implemented, they rely upon the input and commitment of a wide range of individuals who need to be involved and informed in the process from its earliest stages to the generation of results (Richards, 2019). Communication is extremely important to ensure that all team members are thoroughly aware of what their role will be during the plan’s implementation phase. A lack of communication can cause mistakes, and confusion amongst organization employees. Also communication between leadership is important to ensure that everyone understand their roles, and how to delegate the necessary tasks to implement the plan. To minimize the impact of poor communication within my own HCO, I would ensure that all organizations members have a through understanding of the strategic plan’s implementation process. I would do this by having weekly meetings with all organization member’s. I would then conduct survey’s following these meetings to gauge everyone’s understanding of what is happening within the organization. I would continue to do this until everyone has a thorough understanding, and is pleased with the changes that will be made.

References:

Richards, L. (2019, February 11). Why Is a Communication Plan Important to a Strategic Plan? Retrieved from https://bizfluent.com/info-8555169-communication-p…

Candido, C. & Santos, S. (2015). Strategy Implementation: What is the failure rate? Journal of Management & Organization, 21(2), 237-262. Doi: 10.1017/jmo/2014.77

Strategic Planning Mod 7 Response

Failure in Transition from Planning to Implementation

Posted by Michelle

Often the estimate of failed strategic pans is 50-90%, and you ask what the reason is, communication (Candido & Santos, 2015). Many forms of communication can lead to failure of the project. During the first steps communication of who’s involved in which process and who is in charge of what steps. For example, John may think he is in charge of one thing while the lead, Marsha, has him in charge of another. This would cause steps to be lost and incomplete, as well as frustration for all involved. To prevent this, make a very detailed list with the team of each person jobs and duties. Once the meeting is complete be sure to email a copy of this list to everyone. This way there is no confusion. If someone has questions about their role this is the time to ask. Another issue that may occur is having to long of periods between meetings to make sure everyone is on track and that the plan is going as planned. My recommendation would be bi weekly meetings throughout the process, even after it is started. If you make meetings from one meeting to another, without plans of what should be done by the next meeting you will waste everyone’s time.

Reference:

Candido, C. & Santos, S. (2015). Strategy Implementation: What is the failure rate? Journal of Management & Organization, 21(2), 237-262. Doi: 10.1017/jmo/2014.77

Strategic Planning Mod 7 Response

The Annual Strategic Planning Retreat

Posted by Melissa

The process options can be categorized in three points. The process option that will be used in the annual retreat will be the Formal and lengthy update process. I chose this option because there have been some changes to the external and internal environment (Harris 2018). This process will involve the company to make some hard decisions, and to make assumptions about the future of the company (Harris 2018). In this process option it could require the company to redefine the critical planning issues, which was less extensive. The goals and major initiatives will need to be reviewed and possibly be modified (Harris 2018). The overall strategy plan and the vision could also be looked at as well during this retreat. During the retreat and this process option, individuals could be given different jobs and be able to complete differ tasks that could help with the strategic plan for the company (Harris 2018). Individuals will be given the chance to also voice their concerns and opinions. The feedback is very important in the decision-making process.

Harris, J. (2018) Healthcare Strategic Planning.

Strategic Planning Mod 7 Response

The Annual Strategic Planning Retreat

Posted by Tatianna

It is important when revaluating a company’s strategic plan, that a review and revision take place in order to evaluate how the company has changed since the initial plan and how to improve various aspects as well as understand the need for change or remaining the same. The strategic alternative that is to be used is stability, which in my opinion is the most important, due to its provision within business. Stability is the alternative that is used to focus on the steady course which maintains profits; thereby focusing on what the company is doing right and how to keep the momentum going (Teeboom, 2019). Stability allows for greater improvements of the current aspects in which a company has built their success. This is vital to remain a constant. Business leaders can alter the negative aspects that have not been successful within the company, yet, remain constant on the aspects that have. This alternative style has the ability to make greater strides towards success within the company and is vital during the annual revision and evaluation.

Teeboom, L. (2019, January 25). Chron. Retrieved from:https://smallbusiness.chron.com/examples-strategic-alternatives-77129.html

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