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SOLVED!! What are the benefits and or drawbacks to following a Business Care Plan format when proposing innovative ideas to organizational leaders?

Nursing Business Care Plan

What are the benefits and or drawbacks to following a Business Care Plan format when proposing innovative ideas to organizational leaders?

Suggested Solution

Healthcare organizations today operate in a global and highly dynamic environment. A majority of organizations within the healthcare sector face a variety of problems which emanate from the increasing difficulty in satisfying users who are progressively more aware and the continued need to modify the internal organization to keep pace with the rapid technological and approach changes (Speziale, 2015). As a result, it has become integral for healthcare organizations today to seek out and implement revolutionary and innovative strategies that maximizes value for everyone within the healthcare environment and beyond. These revolutionary ideas should be proposed to organizational leaders and properly implemented if healthcare organizations are to realize real value and foster better outcomes. There are various ways through which practitioners and other stakeholders within the healthcare sector can propose their innovative and revolutionary ideas to organizational leaders. An important approach is to utilize the business care plan approach.

The business care plan approach is a very valuable tool when it comes to strategic management within the healthcare sector. Utilizing the business plan approach to present innovative ideas to the leadership team in healthcare organizations has many advantages. The first important advantage is that the business plan approach provides a glimpse of the future. The business plan approach is a valuable tool as it will help in forecasting whether the proposed innovative ideas have the potential to be successful in the future or not. Therefore, it helps paint a clear picture of where the business will be if the innovative ideas are implemented thereby facilitating decision-making on whether to move forward with the implementing the idea or not. The business plan format is also a beneficial tool as it will help guide the organization on how to appropriately allocate resources to effectively meet the needs and requirements of the proposed solutions and innovative ideas.

In addition, the business plan approach also helps in the identification of relevant essential demographics, it provides an overview of the marketing strategy that should be utilized, provides a basis for letting other stakeholders know that the proposed innovative ideas are being taken seriously, and provides a structure for ensuring that everyone is on the same page thereby ensuring all the creative energies have been channeled to ideas that have the greatest potential to enhance organizational outcomes. The business plan format helps ensure that all aspects of the proposed innovative strategies have been considered so as to eliminate the probability of failure. It also makes the organization aware of the missing skills and resources and increases the chance of the organization accessing venture capital as the business plan can be forwarded to investors who will then fund the proposal if they like it and feel it will lead to positive outcomes.

However, despite the many advantages and benefits that the business plan format offers, there are also various drawbacks involved when using the business scare plan format. The first important drawback is that the utilization of the business care plan format alone cannot guarantee success as some of the predictions made might be inaccurate. Also, if the business care plan is not flexible enough to adapt to unforeseen changes, then it may lead to problems. Inaccurate predictions may also lead to spending and investment in areas that do not really enhance organizational effectiveness and efficiency. The creation of a business care plan is also an extensive and complicated process that is very time-consuming a sit requires substantial analysis. In addition, since it details what should be done and how it should be done, business care plans may also restrict the freedom that individuals have to be creative and add other innovative improvements. Finally, even with the best research and consideration, the business care plan offers no guarantee and may create an air of false certainty which might limit the access of the organization to exciting new opportunities.

References

Ginter, P. M., Duncan, W. J., & Swayne, L. E. (2018). Strategic management of health care organizations.Hoboken, New Jersey: Wiley

Speziale, G. (2015). Strategic management of a healthcare organization: engagement, behavioral indicators, and clinical performance.European Heart Journal Supplements, 17(7). 3-7. A7, https://doi.org/10.1093/eurheartj/suv003

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