DNP 7105 Healthcare Economics and Bus of Practice (21169.B1)
Week 1 Business Plan Choice
– Choose a business of interest for your final project. You only need to provide a couple of sentences of explanation. What kind of business do you want to start? Why?
Week 1 Flip
– Take this week to familiarize yourself with Flipgrid. Introduce yourself, your area of practice, and your goals for this course!
Week 2 Flip
– Think of a current issue at your workplace that is causing a financial impact. Use the SWOT analysis tool to discuss each section of the tool on this week’s Flip assignment.
Week 2 SWOT Analysis
– Perform a SWOT analysis for your new business. This information will be used throughout your final project, so be as thorough as possible in addressing each element.
Week 2 Flip
– Think of a current issue at your workplace that is causing a financial impact. Use the SWOT analysis tool to discuss each section of the tool on this week’s Flip assignment.
Week 3 Expense Assignment
– As you start to think about your project, what expenses will be relevant to your business? What types of equipment might you need to purchase? What will you need to have in place just to get
– On the Excel sheet provided, start making a list of all expenses for your business, including anything you may need to purchase before you can even “open your doors” for business. You will also need to research an estimated cost for each of the items you list. Make it as complete as possible; you will need it for the budget portion of your project. There are no wrong answers but be thorough.
1. Create one column for everything that needs to be purchased BEFORE you can open your doors.
2. Create a second column for your expected ongoing monthly expenses.
3. The third column is for annual (once-a-year) expenses.
Formatting requires dollar signs and decimal points
Miscellaneous is not an acceptable category for this assignment
Week 3 Flip
– As you think about items in a budget that are at times somewhat controllable. If you were directed to reduce expenses in your current operating budget, what line items would you target and why? Take a few minutes to post your thoughts and ideas for your peers.
Week 4 Break-Even
– Using the information provided on the Excel spreadsheet – not your project information – complete the breakeven analysis.
Week 4 Flip
– For-Profit versus Not-for-Profit Health Systems
– Healthcare systems are divided into not-for-profit and for-profit entities. The majority of United States (US) healthcare systems are considered not-for-profit however, they must generate profits or an operating margin in order to re-invest those funds into the organization. Take some time to review the differences between the two types of systems and discuss if they’re any real differences in outcomes, care delivery, or salaries for staff.
Week 5 Marketing Project (No Flip Assignment)
– This week we are focusing on marketing your business. Things to think about – Who is your target population? What types of relationships can you foster that would support a referral system?
– For the assignment, please address the following in a Word Doc or Powerpoint Slide(s):
1. Your target population
2. Best marketing venues to reach this population i.e., social media, website, paper ads, community presentations, etc. Your marketing strategy should contain as many of these as are appropriate to your business and population. One thing you have to balance is cost/resource requirement.
3. Create a logo and a mantra for your business… I realize that we may not consider ourselves the most artistic bunch (I may just be speaking for me) but this is time to pull out those skills… It does not have to be anything fancy but please no copied clip art from the web.
Week 6 Financial Statement Assignment (No Flip Assignment)
Data Spreadsheet
Data SpreadsheetProfit & Loss StatementBalance Sheet Statement
Week 7 Final Business Plan Kaltura (No Flip Assignment)
– The Assignment REQUIRES the use of Kaltura with PowerPoint.
Executive Summary
A. Briefly introduce the business
B. Provide a brief overview of the following:
1. Products/Services
2. Customers
3. Shareholders
4. Implications for the industry
Products/Services
A. Discuss in detail the purpose of the business
1. Specifically address the importance of the
business within the community that it will serve.
2. Discuss how it meets a need within the
community or within the population
B. Provide depth of detail regarding products/services
Marketing & Customers
A. Address how the need for this product/service was determined.
B. Discuss the importance of marketing to business success, incorporating a minimum of 3 scholarly articles
C. Detail the marketing plan for the business including logo, mantra, and viable venues
Finances
A. Start-up costs
B. Revenue and expenses (Include details on staffing, volume and cost, fixed and variable aspects, inventory and supplies, equipment, etc., as appropriate to your business)
C. Potential for expansion
D. Financial projections (Forecasting)
Advantages and Disadvantages
A. Discuss the advantages that the products/services would provide and potential disadvantages.
B. Include a discussion regarding potential challenges to sustainability and
options for addressing the challenges.
C. Inclusion of 3 scholarly articles
Conclusion
A. Include highlights from each of the above sections
B. Incorporate a minimum of two DNP essentials
C. Make a final argument in support of your business