Return on investment
Order Instructions:
Just as there is a growing trend for public health interventions to be evaluated for their effectiveness, so public health organizations are increasingly expected to show their own “return on investment.”
The concept of return on investment, or ROI, is just one of the business principles that public health leaders are incorporating in their organizations to bring about more effective ways of conducting public health. Revenue generation, entrepreneurialism, and cost shifting are among the other principles that leaders should be conversant with. Business skills are vital because they allow an organization to make the greatest impact on the health of communities using the limited resources they have.
This week you will learn about a wide range of business principles and practices that can improve the effectiveness of public health organizations and can even allow them to generate revenues to help keep their programs afloat. You will also focus this week on a matter that pertains to many professionals as they attempt to move ahead in their career: the problem of leadership derailment, in which for one reason or another a leader’s career stalls. In the video program this week you will hear more about how you can recognize whether your career is derailing and what you can do to keep it on track.
ANSWER THESE QUESTIONS:
1. Are up-to-date business principles encouraged or engaged in at the place you work? What are the costs or benefits of the way things are at your workplace in this regard? Reflect on how applying concepts like return on investment and entrepreneurship to public health fits your personal values.
2. What strategies do you think would be effective in helping you avoid leadership derailment?
USE THE FOLLOWING ARTICLES ONLY (DO NOT DEVIATE FROM ARTICLES)
Orton, S., & Menkens, A. (2006). Business planning for public health from the North Carolina institute for public health. Journal of Public Health Management & Practice, 12(5), 489-492.
Roper, W. L. (2006). The Management Academy for Public Health: Together we can make a difference. Journal of Public Health Management & Practice, 12(5), 407-408.
PLEASE APPLY THE APPLICATION ASSIGNMENT RUBRIC WHEN WRITING PAPER.
I. Paper should demonstrate an excellent understanding of all of the concepts and
key points presented in the texts.
II. Paper provides significant detail including multiple relevant examples, evidence
from the readings and other sources, and discerning ideas.
III. Paper should be well organized, uses scholarly tone, follows APA style, uses
original writing and proper paraphrasing, contains very few or no writing and/or
spelling errors, and is fully consistent with doctoral level writing style.
IV. Paper should be mostly consistent with doctoral level writing style.
SAMPLE ANSWER
1) My company offers project financing solutions to projects that meet its predetermined investment criteria. Project financing involves appraising project proposals to determine whether the projects will be viable and sustainable. One of the documents that my company requests clients to provide for the exercise is a detailed business plan and a feasibility study report. A business plan and a feasibility study report outlines the market that a project intends to serve. The documents outline the gap that the project will fill (Orton, Umble, Zelt, Porter & Johnson, 2007). They outline the marketing strategies that the project will implement to fill the gap in the market. They also outline the organizational plan that the project will use to achieve its strategic objectives. This involves outlining the organizational structure and profiles of key management personnel. These documents also look at the technical, environmental, political, socio-cultural and economic aspects of the project (Orton, Umble, Zelt, Porter & Johnson, 2007).
A business plan is however more detailed than a feasibility study. It identifies the problem that the project will be formed to solve (Orton, Umble, Zelt, Porter & Johnson, 2007). It outlines all steps taken to solve the problem and the costs and benefits that will be generated by the project. The other business practice that is embraced by my company is building working relationships with professional organizations to benefit from their expertise in different areas (Kerr, Hendrie, Delia, Gr, & Moorin, Rachael, 2014). The benefit of this practice is that the organization is able to add value to projects that it handles. Up-to-date business principles are therefore encouraged in my work place. Applying concepts like return on investment would help me to implement projects that increase my asset base. The approach will also help me to maintain investments that add value to my life (Kerr, Hendrie, Delia, Gr, & Moorin, Rachael, 2014).
2) There are several strategies that would help me avoid leadership derailment. One of the strategies is appraising investments that I make to ensure that I implement only those projects whose returns on investment are higher than my cost of implementing them. The other strategy is preparing a business plan that would assist in guiding leadership in all aspects of life (Kerr, Hendrie, Delia, Gr, & Moorin, Rachael, 2014). A business plan would identify problems that need to be addressed, identify steps that have to be taken to address these problems and methods of measuring performance. The other strategy is liaising with the business community to benefit from advice that can be gained from it and other resources that the business community can offer
(Kerr, Hendrie, Delia, Gr, & Moorin, Rachael, 2014)
References
Kerr, R.,B.A.(Econs) G.A.I.C.D., Hendrie, Delia V, BSc, BA, MA,GrDiplApplFin, Gr, &
Moorin, Rachael, PhD,GradDipHlthEcon, M.Sc. (2014). Investing in acute health services: Is it time to change the paradigm? Australian Health Review, 38(5), 533-40. Retrieved from http://search.proquest.com/docview/1645353104?accountid=45049
Orton, S., Umble, K., Zelt, S., Porter, J., & Johnson, J. (2007). Management academy for public
health: Creating entrepreneurial managers. American Journal of Public Health, 97(4), 601-5. Retrieved from http://search.proquest.com/docview/215084335?accountid=45049
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