...Analyzing Managerial Decisions: Interwest Health Corp by Ronald J. Sanders HCM-540, MBOL5, Health Care Organization Instructor: Wenyuan Teng Saint Leo University Distance Learning October 24, 2013 Abstract In order for manager to properly manage a company, there needs to be a constant analysis of the decisions that arise daily. Not only do manager’s make personnel decision, they often times are confronted with the decisions of resources and data entry. Because managers must answer to the shareholders, they must be the bearer of the good and the bad news. When making and analysis, managers should, 1) identify the source of the problem, 2) information analyzed, 3) recommended courses of action, and 4) review the analysis conducted. This paper takes a look at a case study on how Interwest Health Corp analyzes managerial decisions. At the conclusion, readers will form a different perspective on how to analyze managerial decisions. Introduction Managers are devoted to the task of making decisions that will affect the worth and synergies of their firm they manage. Consequently, they bear the chore of maximizing their profits by the decision they make. In the past, many formal theories have been formulated as models for making rational choices. These theories have been accepted as practice when faced with a dilemma. As with any decision, there must be an analysis when making a decision. When making a decision, managers should consider the source of...
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...Analyzing Managerial Decisions: Interwest Healthcare Corp. 1. What are the potential sources of the problems? Interwest seems to be suffering from what a lot of organizations suffer from it comes to the tug of war on what is most important to conduct business. On one side the hospital people think Singh does not care as much about patient care as they do, and on the other Singh thinks that the hospital people are not doing their jobs right in regards to the reports of patient care. The main potential source of the problem is the opportunity cost of each group. Who values what more? The hospital staff most likely thinks that spending more time entering records into the systems will take away from them providing adequate care to the patient, which they value more. Singh meanwhile values correct record keeping in order to remain compliant with the federal government because if that is not up to par, then that could be bad news for him (Krueger, 2009). The sources of the problem are the values each person considers the most important to do their jobs the best. These values differ which causes issues throughout the organization. Singh likely does not seem to understand the hospital staffs opportunity cost. Taking time away from patients could be worse long term for the financial part of the business if they were to focus more on record keeping. Likewise the hospital staff does not seem to realize that proper record keeping could mean better patient care in the long term. Both...
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...can affect decision making. It summarizes the economic view of behavior and contrasts it with other views. The chapter presents a graphical analysis of utility maximization and decision making under uncertainty. The concepts in this chapter are an important foundation for subsequent material in the book. CHAPTER OUTLINE ECONOMIC BEHAVIOR: AN OVERVIEW Economic Choice Marginal Analysis Managerial Application: Marginal Analysis of Customer Profitability Opportunity Costs Managerial Application: Opportunity Costs and V-8 Creativity of Individuals Managerial Application: Creative Gaming of the System GRAPHIC TOOLS Individual Objectives Indifference Curves Constraints Individual Choice Changes in Choice MOTIVATING HONESTY AT MERRILL LYNCH MANAGERIAL IMPLICATIONS Managerial Application: Medicare Creates Perverse Incentives for Doctors ALTERNATIVE MODELS OF BEHAVIOR Only-Money-Matters Model Happy-Is-Productive Model Managerial Application: Happy-Is-Productive versus Economic Explanations of the Hawthorne Experiments Good-Citizen Model Managerial Application: Culture and Behavior Product-of-the-Environment Model WHICH MODEL SHOULD MANAGERS USE? Academic Application: The Economic Framework and Criminal Behavior Academic Application: Criticisms of the Happy-Is-Productive Model DECISION MAKING UNDER...
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...Confirming Pages bye80180_appB_539-654.qxd 11/19/09 9:17 AM Page 539 technology ventures - management dell’imprenditorialità e dell’innovazione Richard C. Dorf, Andrew J. Nelson, Roberto Vona Copyright © 2011 – The McGraw-Hill Companies srl A P P E N D I X B Cases 539 bye80180_appB_539-654.qxd 11/19/09 9:17 AM Page 540 Confirming Pages technology ventures - management dell’imprenditorialità e dell’innovazione Richard C. Dorf, Andrew J. Nelson, Roberto Vona Copyright © 2011 – The McGraw-Hill Companies srl 540 APPENDIX B Cases TREXEL We’ve never met a customer who wasn’t interested in our technology. —David Bernstein, CEO of Trexel David Bernstein hung up the phone with Alex d’Arbeloff, Trexel’s largest investor, and contemplated an upcoming Board of Directors meeting scheduled for June 25, 1998. The meeting was only 10 weeks away and Bernstein, Trexel’s president and chief executive officer, needed to present a coherent vision of the company’s new strategy. Bernstein believed that Trexel’s patented technology for manufacturing foamed plastics had the potential to revolutionize much of the worldwide plastics industry. His innovative process technology, known as MuCell, allowed the Woburn, Massachusetts company to produce foamed plastic utilizing 25% to 50% less material than traditional solid plastics without a significant decrease in the strength of the plastic. Bernstein believed the market for products produced via this...
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