Practicing Skill Building: Lead and Manage Using

Practicing Skill Building: Lead and Manage Using the Balanced Scorecard

Kaplan "Lead and Manage Using the Scorecard"

The work of Kaplan entitled 'Lead and Manage Using the Scorecard" states that communication "is clearly a leadership role." An article published by Forbes online states that it is not possible "to become a great leaders without being a great communicator." (Myatt, p.1) Myatt states "the previous sentence didn't refer to being a great talker -- big difference. The key to becoming a skillful communicator is rarely to be found in what has been taught in the world of academia. From our earliest days in the classroom, we are trained to focus on enunciation, vocabulary, presence, delivery, grammar, syntax, and the like. In other words, we are taught to focus on ourselves. While I don't mean to belittle these things as they're important to learn, it's the more subtle elements of communication rarely taught in the classroom (the elements that focus on others), which leaders desperately need to learn." (Myatt, 2012, p.1) Myatt reports that the best communicators have one thing in common and that is "they possess a heightened sense of situational and contextual awareness." (Myatt, 2012, p.1) Dr. Michael Hackman (2006) in the work entitled "Communicating for Leadership Success" as follows: "Lucid, persuasive, flexible communication becomes the toolbox if not the holy grail for all leaders who face the challenge of maximizing the production of their teams. Think of a powerful leader as a master communicator; i.e., a leader/communicator." (p.3) Likewise it is stated in the work of Barrett ( nd) that a leader "must be able to communicate effectively. When CEOs and other senior executives in all industries and countries are asked to list the most important skills a manager must possess, the answer consistently includes -- good communication skills. Managers spend most of their day engaged in communication; in fact, older studies of how much time managers spend on various activities show that communication occupies 70 to 90% of their time every day." (Barrett, nd)

II. Operating Margins in the Hospital

2). Operating margins in your hospital have been consistently below national norms for the past 3 years. Discuss the factors that might have created this situation and the ways in which you might determine specific causes. Additionally, describe several items that are treated as expenses in the income statement but do not require any expenditure of cash in the present period.

III. Shortage of Funds in Health Maintenance Organization

3). Your health maintenance organization is experiencing a critical shortage of funds. Using the statement of cash flows as a framework. For discussion, explain how you might attempt to reduce the need for additional funds. Additionally, your firm reported net income of $5,000,000, but the change in equity was only $3,000,000. What could account for the difference?

IV. Treatment of Donation of Medical Supplies in Firm's Financial Statement

4). A major supplier has donated $45,000 worth of medical supply items to your firm. These items are then used in the treatment of patients. Explain how this transaction would be recorded in your firm's financial statements. Additionally, your hospital has experienced negative levels of net income for the last five years. The total amount of accumulated deficits is $5 million, but you have noticed that unrestricted net assets have increased $2 million during the same period. How might this situation be explained?

V. Three Key Factors Essential for Healthcare Organization to Remain Solvent

5. What are three key factors that you feel are essential for the healthcare organization where you work, or one in which you are familiar, to remain solvent?

VI. Vital Metrics Driving Organizational Performance