Evaluate the roles of the HCO manager, the clinical support service (CSS) management, and governance in deciding how much to invest in keeping up with technological change.
The role of CSS management is to provide specialized services at a level meeting the patients and caregivers need at a level that is excellent clinically (White & Griffith, 2010). The role of the HCO manager is to provide every patient with the needed set of services and integrate them as a whole (White & Griffith, 2010). The role of HCO implies that CSS must be consistent with the technological investment strategic plans, meaning that the scope and size of CSS are defined by the governing board of HCO and HCO that approved CSS annual goals.
In deciding on how much to invest in keeping up with the technological change, the HCO manager should assess the drawbacks and benefits of a new technology. Moreover, they should perform rough life-cycle costs analysis to determine if the new technology’s upfront cost outweighs the long-term operations, maintenance and energy benefits. On the other hand, CSS management’s role is to eliminate oversee and underuse of CSS and keep up with technological change by proposing cost effective technology to HCO (White & Griffith, 2010).
On the governance, their role in deciding on how much to invest in keeping up with the technological change are diverse. The governance body constitutes the individuals in the management of the HCO, and they establish policies and practices outlining the scope and cost of technological change in the HCO. Moreover, the governance balances the tension between reliability and production efficiency in deciding the appropriate costs. Lastly, they management the process of technological change by ultimately deciding on the final prices of the technology to be invested in (White & Griffith, 2010).
Analyze the functions of continuous improvement and budgeting in order to provide an adequate framework to decide when specific new technology is appropriate.
Leaders or the managers need to improve processes and systems continuously in order to provide customer value. Gopala (2011) stated that a change in practices and thoughts of people is needed to create a continuous culture improvement. This is because a good understanding of the culture allows the managers to carry out change that is sustainable. The key principles of continuous improvement includes creating culture of; customer focus, understanding customer needs continuously, optimizing performance of the organization, learning from mistakes continuously, fixing problems root causes, and improving processes and systems continuously (Gopala, 2011).
Budgeting is a management function that includes accounting and revenue, fiscal planning and control of expense. To provide a sustainable framework for deciding appropriate specific technologies, budgeting and continuous improvement is needed. Budgeting will act as a guide in allocating revenues according to the new technological line items and priorities. Moreover, budgeting will create accountability by determining how well the budget anticipated for the new technology matches the reality (Waldron, Vsanthakumar and Arulraj, nd).
Apply biblical principles to organizational investment decisions
In making organizational investment decisions based on biblical principles, an investor should avoid making investments in companies that pay domestic partner benefits same-sex couples and the unmarried, contraceptives, support abortion, weapons of mass destruction, and research on stem cell. This means that the investor should invest in firms supporting human rights, fair employment practices and environmental responsibility (Investopedia, 2012).
Another biblical principle is thriftiness and hard work that are essential in making organizational investment decisions. The investments should be based on social consciousness and Christian values (NIV Stewardship Study Bible, 2009). This implies that the investor will be discouraged from investing in “sin stocks,” such as the stocks that are affiliated with human embryonic cloning, high-interest lending, alcoholic drinks, gambling and tobacco. Moreover, organizations are discouraged from investing in firms that cause environmental damage with their greenhouse gasses and also the companies that engage in unfair trade (Investopedia, 2012).
Gopala, K. (2011).Key principles in continuous improvement culture. Retrieved February 17, 2015, from http://www.slideshare.net/pgkrish/key-principles-in-continuous-improvement-culture
Investopedia. (2012, January 5). A Guide To Faith-Based Investing. Retrieved February 17, 2015, from http://www.investopedia.com/articles/stocks/12/investing-and-faith.asp
NIV Stewardship study Bible. (2009). Grand Rapids, Mich: Zondervan.
Waldron, M. W, Vsanthakumar., J. and Arulraj, S. (n.d). Chapter 13 – Improving the organization and management of extension. (n.d.). Retrieved February 17, 2015, from http://www.fao.org/docrep/W5830E/w5830e0f.htm#budgeting
White, K. R., & Griffith, J. R. (2010). The well-managed healthcare organization. Chicago: Health Administration Press. Retrieved from http://www.ache.org/pubs/hap_companion/book.cfm?pc=2156
With a student-centered approach, I create engaging and informative blog posts that tackle relevant topics for students. My content aims to equip students with the knowledge and tools they need to succeed academically and beyond.