Businesses are often faced with operational risks and decisions must be made to alleviate such risks. Discuss typical operational decisions that are made to deal with operational risks.
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Businesses are often faced with operational risks and decisions must be made to alleviate such risks. Discuss typical operational decisions that are made to deal with operational risks.
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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. 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. 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?
- ABC Company is a mid-sized manufacturing company operating in a highly competitive market. The company specializes in the production of electronic devices and faces intense competition against national and international companies. To gain a competitive advantage, the ABC Company must assess its competitive priorities and identify the capabilities needed to develop its processes effectively. Analyze the situation above and answer the following questions: Describe what are the competitive priorities that a company can adopt to be successful in its market. From the competitive priorities you describe in the previous question, select the one that ABC Company must focus on to be competitive in its market. Justify your selection. Using the chosen competitive priorities, develop a strategy that allows the company to gain a competitive advantage in its operations. Explain why a company should not consider all competitive priorities even though they may be relevant to its success in the…Give three examples of organizations that have acquired or developed new technologies to support the following objectives and provide a short rationale for each example: reducing cost reducing lead time or lead time variability improving quality increasing flexibility and the ability to customizeDescribe the key performance indicators (KPIs) and metrics used to measure the success of system management initiatives.
- Case Studies in Management: Bank of America Corporation - 2011 Briefly discuss the organization and its product and services. Discuss the strategic dilemma that your company is facing. Show existing vision, mission, objectives and strategies. Evaluate the mission statement. If the mission statement does not exist or needs to be revised, please craft one or revise the existing mission and tell why it needed to be improved. Identify all of the organization's external opportunities and threats. Highlight and explain the three most significant opportunities and the three most significant threats. Identify and discuss at least 3 major competitors. Compare your organizations performance with the performance of their competitors. Identify all of the organization's internal strengths and weaknesses. Highlight and explain the three most significant strengths and the three most significant weaknesses. Calculate and discuss key financial ratios. Please include at least one ratio from each…Problem 2-12 (Static) Match the following common risks with the appropriate mitigation strategy: Use Exhibit 2.4. A. Detailed tracking, alternate suppliers B. Careful selection and monitoring of suppliers C. Contingency planning, insurance D. Good legal advice, compliance E. Currency hedging, local sourcing Country risks Regulatory risk Logistics failure Natural disaster Major quality failureAs the Operations Manager of your company, evaluate three (3) corporate risks in the business environment with examples that will threaten the performance of the business. How will the impact of these risks be managed to reduce their impact
- List ways to avoid the following reasons for businesses failure; inability to develop and monitor financial statements, inability to balance business and family, and underestimation of the time requirements.Why do we need the need for a systematic process of business planning for examining an organisation and its environment in order to best allocate resources to meet service demand in the most appropriate way?Examples of changes or challenges other than those mentioned in the given picture that may occur in the future scenarios.