...Chapter 2 Case Assignment Analyzing Managerial Decisions: Interwest Healthcare Corp. MBA 540- Managerial Economics Chapter 2 Case Assignment After reading and understanding the scenario at hand and the issue that Interwest Healthcare is experiencing. There is a serious need for a consultant to come in and further analyze the problem and make improvement recommendations. A potential source of the issue is stemming from the lack of information to the direct employees who are inputting the information straight into the system. The hospital administrators need to monitor the employee’s direct collation to the data they are inputting into the system is in fact correct. Possibly the lack of communication resulting from the hospital administrators is an acknowledgement that the employees know of the importance of the correct data input, when in fact they are not aware of the importance and how much the organization is reliant on the information for funding and reporting. One of the biggest issues facing employee and employer relationships is the lack of communication. According to Joseph (2013), “failure to communicate effectively often leads to conflict, which can harm an organization.” If the problem is not correct by the hospital administrators, Vijay Singh may need to go the individual hospitals and have meetings directly with the individuals inputting the information. This is a means of stressing the importance and also for...
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...Analyzing Managerial Decisions: Interwest Healthcare Corp. Curtis Douglas March 10, 2013 Interwest Healthcare Corp. What are the potential sources of the problems? It seems there is conflict between Vijay Singh the Chief Financial Officer (CFO) of Interwest and the Operations staff (Hospital Administrators). Singh is accusing the hospital administrators of not being detail oriented when entering patient information in the Management Information System. The hospital staff is accusing Singh of not caring about patient services. There’s opportunity cost from both Singh and the staff, as Singh is in need of the data entry to be accurately entered because it affects federal funding and management reports. However, the hospital staff finds patient services more important than correct data entry, therefore, the source of the problems are the values each side considers more important (opportunity cost). Management implications are another source of problems -Understanding what motivates individuals is critical (Brickley, Smith & Zimmerman, 2009). Also, both sides must understand what is in the best interest of the company. What information would you want to analyze? As the consultant, I would want to analyze the current processes that are in place for employees that perform the data entry task to find out what causing the problems in data entry. Time Management should also be reviewed and the value the staff...
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...Lisette Negron Chapter 2: Analyzing Managerial Decisions: Interwest healthcare Corp. Instructor: Dr. James Larriviere Saint Leo University 5 July 2015 (1) What are the potential sources of the problem? As a consultant, I would evaluate my resources, the staff and the means of communication available for Interwest Healthcare Corp. I would highlight to all the administrators that in order to accomplish what needs to be done in order to continue receiving federal aid and provide the maximum support to our patients we need to communicate lot better, which is the main source of the problem. There are other sources such as training and hiring the right staff to the job description. (2) What information would you want to analyze? I would analyze the management information system and how most staff members are using it. The problem may be that various departments are using different techniques and procedures in reporting information to management. This is causing discrepancies in the database. (3) What actions might you recommend to increase the accuracy of the data entry? I would recommend training and regulations in using the system. I would also address the importance of accurate information reported. The system is used to compile reports that are required by the federal government under various grant programs; therefore, every single employee needs to remember that this is a non-profit organization and in order to operate successfully, we need the funding...
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...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. Patrick Britz Managerial Economics, MBA 540 Dr. James Larriviere March 10, 2013 Q1. What are the potential sources of the problem? R1. The main potential source of the problem appears to be a lack of communication of the expectations from upper management to the hospital administrators who enter data into to the management information system (MIS). Per Brickley, Smith and Zimmerman, it is critical for managers to understand what motivates individuals. Without providing the staff with clear expectations, it is impossible for the managers to understand how to motivate them to accomplish the objectives. Another problem seems to be that upper management and the administrators have different views of the importance of correct data entry into the MIS. Upper management sees it as providing misleading information to the federal government, which could lead to a loss of grant aid, while the administrators feel that taking the time to ensure accurate data entry into the MIS takes away from the services they provide to patients. Q2. What information would you want to analyze? R2. The first area that should be analyzed is the MIS itself and whether it is too cumbersome or confusing for the administrators to input data accurately. Assuming the MIS is performing as expected, the various models of behavior (e.g. happy-is-productive, good- citizen) should be analyzed to determine the best way to motivate the...
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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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...Analyzing Managerial Decisions: Interwest Healthcare Chapter 2 Case Study 1. What are the potential sources of the problem? After reading the case study it seems that one problem between the hospitals and upper management seems to be lack of communication. It seems that Singh and Mrs. Manzoni have not affectively communicated to the hospital administrators what the goals of the company are and what is best for the company. I believe that Mrs. Singh and the hospital administrators value the importance of two different things. Mrs. Singh values the importance of correct data entry into the firm’s management information system. While, the hospital administrators seem to be placing more value on the importance of patient services. In addition, it seems Mrs. Singh does not know what motivates the employees to exert more effort. Economists would view the employees’ actions as the outcomes of maximizing personal utility (Brickley, Smith, & Zimmerman, 2009). During the retreat Mrs. Singh failed to effectively communicate to the administrators the high importance of accurately entering data. She should had stressed how incorrect data could possibly effect the aid that they receive. 2. What information would you want to analyze? I would actually choose to thoroughly analyze the data the management information system is currently asking for. I would also review past reports generated by the system and compare them. It would be highly imperative to insure that...
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...1. Analyzing Managerial Decisions: Consumer Choice and Graphical Tools a. Two potential actions that you might take to sell more wine in the country. First, use strong marketing strategy to make wine be more familiar with other alcohol preferred people. Second, add functionality to wine’s concept. Make people think wine as a healthy drink. It will increase wine’s demand dramatically. b. Are there any feasible policies to increase wine sales in the country? For the soft launching, the company should consider why most of people in country B usually drink other alcohols. According the research result, the company makes a plan to increase sales volume of wine. For example, if people in country B prefer to drink low degree of alcohol, the company will focus on selling a low degree wine, such as sparkling wines. Or if people in country B prefer to drink add-flavored alcohol, the company tries to launching add-flavored wine, such as ice-wine. And then strengthen the marketing strategy to make people be more familiar with wine. 2. Analyzing Managerial Decisions: Interwest Healthcare Corp. a. What are the potential sources of the problem? First, the hospital administrator did not properly completing to enter data into the firm’s MIS. Second, there was no regulation and reward program to enhance...
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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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