Financial Effects and Constraints

In: Other Topics

Submitted By taybella
Words 1017
Pages 5
Financial Effects and Constraints Health care organizations throughout the world are facing many financial challenges. Management has to find ways to streamline processes, reduce waste, and bring profit to the organization. Pharmacies in the health care system tend to be one of the major departments that bring in a very large amount of revenue for an organization. Therefore, it is extremely important for management to focus on processes that will result in the smooth operation of the pharmacy department. Management must be cognizant of the revenue constraints and financial factors that the pharmacy department faces and be able to make good business decisions that benefit the organization. Additionally, to forecast accurately the future of a hospital’s pharmacy, management must have the required knowledgebase to review and interpret the appropriate financial reports. Pharmacy Effects on Operations Management Health care managers must continually monitor the processes and operations of the pharmacy in their organization. Pharmacies are one of the major profit producers of a health care organization, therefore ensuring that required workflow processes are efficiently and effectively in place are critical. Pharmacists and pharmacies play a major role in the delivery of quality health care as they distribute safe medications to the patient population. To prevent disruptions in services and to make a positive impact on the hospitals bottom line, pharmacy management must focus on inventory control, staffing, and automation. Inventory Control Pharmacies keep

adequate stock levels of medications to meet the demands of the local hospital. Most pharmacies use the economic order quantity (EOQ) methodology to establish a benchmark for inventory levels (Beier, 1995, p. 160). To maximize profitability of hospital pharmacies, efficient inventory…...

Similar Documents

Financial Performance Measures and Their Effects

...FINANCIAL PERFORMANCE MEASURES AND THEIR EFFECTS By Evanti Firstadea (105020307121003) Rosyida Mardyana (105020307121011) University of Brawijaya Economics and Business Faculty Accounting Major FINANCIAL PERFORMANCE MEASURES AND THEIR EFFECTS INTRODUCTION The primary objective of for-profit organizations is to maximize shareholder (or owner) value, or firm value for short. Thus, the results-control ideal would be to reward each individual employee for doing what s/he does to increase firm value. However, because direct measurements of the individuals’ contributions to value creation are rarely possible, firms have to look for measurement and control alternatives. A commonly cited management axiom is: what you measure is what you get. This axiom works in practice because performance measures are linked to any of a number of incentives that employees value. Employees respond to these incentives. The measures, then, play valuable motivational, or decision influencing, roles. But what performance measure (or measures) should be used? At managerial levels of organizations, both at the corporate and entity levels, job responsibilities are both broad and varied. In common jargon, managers are said to be multitasking. Reflecting that task variety, the list of measures used in practice to motivate and evaluate managers’ performances is long. However, these measures can be classified into three broad categories. Two of these categories include summary, single-number,...

Words: 7223 - Pages: 29

Associated with the Inniative and Financial Effects They May Have

...relationships and the environment in which they develop the way we are determined future.     On the other hand we must bear in mind the icons that influence, often decisively, in our personalities. Taking as reference figures whose sacrifice famous to become known as zero, will create people seeking quick success at any price and will surely be very ephemeral.     Instead considered successful if the references provided to us by the media and we see daily are people who have made themselves, through effort and work for years, getting to be happy after taking out a personal project, the options imitation are older and mostly better. When analyzing a company through an extra-financial lens, taking into account the impact that she and their activities on society. The social impact is one of three extra-financial factors that are taken into account, along with the environmental performance and corporate governance. The social impact measures may include labor management policies of the company and the approach to equal opportunities and human rights as well as the direct impact of their activities in the local community. Every culture values ​​some people more than others, such distinctions determine the class or social position that an individual has within a culture, as in business would value the managerial group members rather than members of production groups . But what determines the position (or class) aria considerably in different countries. The position of......

Words: 1763 - Pages: 8

Effects of Financial Problem to Students

...across Australia, | | |beating second place winner by one full day. | |1997: |SunPower high efficiency solar cells power NASA’s Pathfinder,| | |an unmanned, remotely piloted, solar-powered, high altitude | | |aircraft. | 1980s By 1985, Dr. Swanson (who by then was a professor of electrical engineering at Stanford) had been awarded grants from the Electric Power Research Institute and the U.S. Department of Energy to support his solar power explorations. With the help of these funds – as well as financial support from two venture capital firms – SunPower was officially incorporated. 1970s Our record of solar innovation began nearly four decades ago, when our co-founder, Dr. Richard Swanson, was pondering ways to deal with the oil crisis. At that time, solar cells were being used on satellites, a concept he found intriguing. His engineering challenge was to figure out how to make the cells more cost-effective. So he began a quest that, almost 40 years later, has helped position SunPower as a leader in residential, commercial and utility-scale solar power production. SunPower Leadership Team [pic]Tom Werner Tom Werner serves as SunPower’s president and chief executive officer, and as chairman of the SunPower......

Words: 2424 - Pages: 10

The Financial Analysis of the Effect of Mergers and Acquisitions in Retailing of China

...并购绩效的建议,对于零售行业加速整合,规范市场行为有很好的借 鉴和参考价值。 关键词:零售业,并购,财务指标     The Financial Analysis of the Effect of Mergers and Acquisitions in Retailing of China Abstract China's retail industry started in the early 1990s, has experienced 20 years of vigorous development, and now begins to enter the period of mergers and acquisitions. From financial aspect, the main motive of M&A in retailing is to increase profits, or reduce costs. Therefore, M&A performance also depends on whether the organization can finally realize the optimization, financially and operationally. This paper selects the listed retail enterprises involved in M&A, transforms the data of the financial statements into financial indicators. In order to compare these indicators, this paper puts forward a new M&A performance evaluation system which can be used to compare financial index before and after the merger activity, so as to estimate the results. The result finds that most mergers in retailing is not successful as expected. Using the evaluation system, we can also have an insight into Gome acquisition events and those effects on the organization. This paper gives the investors a new perspective to assess M&A performance, and puts forward advice on how to improve the performance of mergers and acquisitions. It is very helpful for the integration of retail industry and the regulation of market behavior. Key words: retailing, M&A, financial indicator     目 录     一、......

Words: 2437 - Pages: 10

The Effect of the Financial Crisis on Greece

...contributing to the overall outcome. I. Introduction According to many economists, the financial crisis of the late 2000s is considered to be the most severe financial crisis since the great depression of the 1930s. A downfall in the United States banking system was the trigger behind the formation of the crisis, which resulted in the breakdown of large financial institutions. The government was forced to bailout banks as a result and similarly the stock market faced a huge blow, not only in the United States but all around the entire globe. Well into 2006, the United States housing bubble flopped, resulting in the decrease in the values of securities causing the real estate pricing to vastly decline, which similarly resulted in the collapse of huge financial institutions all around the world. Foreign direct investment suffered a huge blow as damaged investor confidence and the decline in credit and security availability have contributed to the major collapse of the stock market. The United States is considered to have an economy that acts as a liaison in the global market, which as a result affects all economies around the world. Investors and credit related agencies failed to accurately calculate the risk involved with mortgage related products, therefore the U.S government decided to use both fiscal and monetary policy to pump money into the market and bailout large financial institutions to stimulate the economy. The Federal Reserve government decided to......

Words: 2174 - Pages: 9

Analyze the Effects of Financial Globalization on China's Financial System

...Analyze the Effects of Financial Globalization on China's Financial System Introduction With the development of financial globalization, the free flow of international capital contributes a lot to the development of the world economy, however, many short-term speculative capital wandering around the world with rapid speed and complex means have impacted on developing countries’ financial markets, which constantly induce financial instability and crisis. And fluctuations due to capital flows also makes the international financial turmoil have a huge ripple effect and zoom effects. Financial globalization has exacerbated the instability and the risk of global economy and financial development, so financial security is increasingly becoming an important part of national security .In this essay, we are going to talk about the impact of financial globalization on China’s financial market and what the measures will be taken to ensure the security of China’s economy. The main performance of financial globalization 1. Globalization of capital flows is the most prominent manifestations of financial globalization. Since the 1980s, the scale of international capital flows has continueally expanded, while financial technology and financial innovation and the development of various financial derivative helps accelerate the speed of cross-border flows of international capital. By using computer and modern finncial technology, on one hand hundreds of millions of funds can......

Words: 1494 - Pages: 6

Effects of Corporate Social Responsibility in the Financial Reports

...Effects of Corporate Social Responsibility in the financial reports:- Contents Abstract- 4 Acknowledgement- 5 Chapter-1 5 Introduction- 5 Background and overview: 6 Scope of the dissertation: 7 Research questions: 8 The aim and the research tasks: 9 Structure of dissertation 10 Chapter-2 11 Literature review: 11 1. Theories on Corporate Social Responsibility: 11 2. Motivation behind Corporate Social Responsibility: 13 3. Financial performance as motivation: 14 4. Relation between CSR and Financial Performances: 16 Theories on CSR: 19 Instrumental theories: 19 Political theories: 19 Integrative theories: 20 Ethical theories: 20 Measurement of Financial Performances: 22 Chapter-3 22 Research Methodology: 22 Introduction 22 Research model and approach 25 Research collection 29 Process of data analysis 33 Chapter-4 34 Analysis 34 Survey questions 34 Focus group discussion 42 Chapter-5 43 Result and findings 43 Implications for practitioners 44 Implications for future research 45 Chapter-6 45 Recommendations and conclusions 45 Appendix-1 49 Questionnaire- 49 Interview questions- 51 Bibliography 52 Abstract- In today’s business world the word, “Corporate Social Responsibility” (CSR) is more than a buzzword to the stakeholders. The concept of CSR is evolving in the business world from decades; however, the actual meaning with its impact is yet to be achieved. The emergence of Corporate......

Words: 10980 - Pages: 44

Financial Effects of Gay Marriage in America

...Same Sex Marriage and its Financial Effects on America Cinnamon White University of Phoenix Creative Thinking and Creative Problem Solving Hum/114 Cindy Ellis Same Sex Marriage and its Financial Effects on America I see the legalization of same sex marriage as a financial win for the American economy. The research shows that the financial impact on our country is actually beneficial. According to the Congressional Budget Office (CBO) in 2004, if same sex marriage were legalized in all 50 states and federally recognized this would bring an extra $1billion each year for the next ten years into Social Security and federal taxes.(Covert, 2013, para. 3) On the state level the income tax revenue will be higher as these couples that are getting married will now be filing as a married couple thrusting them into a higher tax bracket. It will also increase spending due to the carrying out of weddings and the sales tax income generated from these weddings. In Maine figures showed that over a three year period alone an additional $583,193 would be brought in due to the marriage license fees. (Covert, 2013, para. 6) PBS News Hours states that same sex couples are more likely to be uninsured due to the fact they cannot get spousal benefits and cannot afford both insurances. If the uninsured cannot pay for medical problems that arise, we as a whole end up paying the costs. (Badgett, 2013, para. 2) There is also a boost in the family law sector of the community because with......

Words: 448 - Pages: 2

Theory of Constraints

...Chapter 5 Theory of Constraints What You Will Find Out About in This Chapter  The importance of managing system throughput  The differences between cost-world orientation and throughput orientation  The importance, and often the difficulty, of identifying constraints  The five-step process of constraint management  The circumstances in which the theory of constraints is valuable in increasing throughput  How throughput accounting and appropriate performance measures can encourage a throughput emphasis Management Accounting for Change: Process Improvement and Innovation 5.1 INTRODUCTION...........................................................................................................................................85 5.2 MANAGING PROCESS THROUGHPUT ....................................................................................................85 5.2.1 Defining TOC...........................................................................................................................................86 5.3 NATURE OF THE ‘GLOBAL GOAL’ VS LOCAL PERFORMANCE MEASUREMENT ........................87 5.3.1 The Global Goal .......................................................................................................................................87 5.3.2 Local Performance Measurement .............................................................................................................87 5.3.3 Conflicts Between Local Performance and the......

Words: 9715 - Pages: 39

Review on Kaplan and Zingales Research Paper About Relationship Between Investment Cash Flow and Financial Constraint

...Review and Evaluation on ‘Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints’ by Kaplan and Zingales (QJE,1997) The research paper written by Steven N. Kaplan and Luigi Zingales as titled above which was published in year 1997 is to test the relationship linking investment-cash flow with financial constraint. In their research, they found that firm with a low level of financial constraint have a tendency to have a high investment-cash flow sensitivity. However, the findings contradict with the other research paper especially the FHP, 1988 paper. They used the same sample used in research done by Fazzari, Hubbard, and Petersen (FHP, 1988). But they only took the firms from Class 1 in FHP research which is manufacturing firms and classified as low dividend firms with dividend payout ratio with value below 10%, where they believe to be firms with an abnormally high investment-cash flow sensitivity (Kaplan & Zingales, 1997). The reasons why Kaplan and Zingales chose Class 1 firms as their sample are because of the strong connection illustrated between the firm’s investment and cash flow, FHP argue Class 1 firms are financially constrained even the result indicates that the firms have significantly high sensitivity of investment-cash flow, and lastly because the sample size is considered manageable for a costly research design. They follow the same timeline which is from year 1970 to 1984. Research is conducted by first determining the......

Words: 1081 - Pages: 5

Effect of Technological Change on the Profitability of Financial Institutions in Kenya

...small to medium sized and locally owned. Six of the major banks are listed on the Nairobi Stock Exchange. The number of commercial banks decreased from 49 in June 2001to 46 in June 2002. This followed liquidation of one bank, merger of two banks and a fake over of another. Non bank financial institutions (NBFIs) declined to five in June 2002 from seven in June 2001 as two institutions merged with their parent banks. The banking sector continued to be dominated by eight commercial banks, which accounted for 72.1% of the total assets and 72.5% of deposit base. At the end of June 2003, the banking system comprised 43 commercial banks, 2 non bank financial institutions (NBFIs), 2 mortgage finance companies and 4 building societies. Banking and non bank financial institutions declined to 51 in June 2003 from 55 in June 2002 due to merging of six institutions into three and the liquidation of another. However, the sector rose highly concentrated with 9 of the 43 banks controlling 74% of the total assets in the sector. A number of banks closed some branches as part of their cost and business rationalization measures. Following improved economic performance, the banking sector grew strongly in the financial year 2003/2004. Profitability, deposit and capital, all grew significantly and a higher rate of compliance with statutory and prudential regulations was achieved. Currently, the global banking industry trends are coupled by radical changes in the banking industry that were......

Words: 11835 - Pages: 48

Financial Effects of Patient Misdiagnosis

...aggravate an existing condition. Sometimes a doctor diagnoses one condition correctly but misdiagnoses another condition or fails to realize that there is a second diagnosis that needs to be made this healthcare issue negatively affect hospitals and medical offices financially. The financial management staff in the health industry have to carefully monitor, analyze, and calculate the budgets and monetary claims for multiple departments. Whether the business is a nonprofit organization or a for profit organization, the impacts would still be the same. Giving out wrong diagnoses to patients lead to medical malpractice suits, affect the quality of care, increases the cost of care and affects Medicaid and Medicare. All of the above impacts can cause an organization to have a bad reputation and possibly lose their accessibility to Medicaid and Medicare patients. Every effect causes a financial problem. A doctor and hospital can be held liable when misdiagnosis lead to serious injuries or delays treatment for life threatening diseases. Proper diagnoses from the start result in a smaller chance of medical malpractice (Fuller, 2006). The financial management staff is in charge of paying out the claims. The financial management staff can also see how many times a certain patient has been seen. If the low quality of care is causing patients to return to be helped and driving up the costs of care that is a huge concern for the finance department. These costs can increase quickly......

Words: 574 - Pages: 3

Financial Crisis Effects on Romanian Banking System

...ANNALS of the ORADEA UNIVERSITY. Fascicle of Management and Technological Engineering, Volume X (XX), 2011, NR2 FINANCIAL CRISIS EFFECTS ON ROMANIAN BANKING SYSTEM Anca Maria Roşu Academy of Economic Studies of Bucharest, Institute of Doctoral Studies, anca.rosu@yahoo.com Keywords: financial crisis, effects, marketing strategy, banking services, Romania Abstract: The financial turmoil has prompted a reality check of the banking system. This paper builds on an overview of the global financial crisis effect in Romania, emphasis the reaction of the banks in the economic crisis context and how their behavior changed and extends with measures undertaken for mitigating the effect of the crisis to enable a better understanding of the changes and trends of bank marketing strategies during crises. The purpose of the paper is to give suggestions on possible policy responses to the changing consumer buying behavior and to address the effects of the crisis on banking sector strategies. 1 Introduction The National Bureau of Economic Research defines a crisis as a major reduction in economic activity for several months, reflected in the decrease of GDP, decline of individual’s income, reduction of the level of employment, decline of industrial production and consumption. The majority of banking crises follow a common pattern of causes and consequences [Klomp, 2010]. Banking crises are ......

Words: 4163 - Pages: 17

The Effect of Culture on the Implementation of International Financial Reporting Standards

...Claremont Colleges Scholarship @ Claremont CMC Senior Theses CMC Student Scholarship 2011 The Effect of Culture on the Implementation of International Financial Reporting Standards Mitchell A. Skotarczyk Claremont McKenna College Recommended Citation Skotarczyk, Mitchell A., "The Effect of Culture on the Implementation of International Financial Reporting Standards" (2011). CMC Senior Theses. Paper 165. http://scholarship.claremont.edu/cmc_theses/165 This Open Access Senior Thesis is brought to you by Scholarship@Claremont. It has been accepted for inclusion in this collection by an authorized administrator. For more information, please contact scholarship@cuc.claremont.edu. CLAREMONT McKENNA COLLEGE THE EFFECT OF CULTURE ON THE IMPLEMENTATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS SUBMITTED TO PROFESSOR MARC MASSOUD AND DEAN GREGORY HESS BY MITCHELL SKOTARCZYK FOR SENIOR THESIS SPRING 2011 2 Table of Contents I. Introduction…………………….……………………………………………………………….4 II. Literature Summary………………………………………...………………...….……………..5 III. IFRS……………………...……………………………………………………..……………11 IV. Carve-outs…………………………………………………………………………………....18 V. Culture and Accounting………………………………………………………………………25 VI. Conclusion………………………………………………………………...…………………30 Appendix………………………………………………………………………………………...32 Bibliography……………………………………………………………………………………..37 3 I. Introduction As globalization increases at a blistering pace,......

Words: 9884 - Pages: 40

Evaluating the Effect Financial Risk Management on the Financial Performance of Banks in Kenya

...In a world that is constantly changing and with every change bringing about new ways of doing business with different outcomes, risk and how to manage it has become a critical issue. The recent global financial crisis served as a reminder that risk management and how the same is practiced is fundamental if performance objectives are to be consistentlyachieved. It has emerged that as business owners and managers strive to improve and sustain performance they are now also required to consider what risk management practices their organizations have adopted to avoid falling short of their strategic objectives. This is even more so in the financial services sector which was the most affected during the recent financial crisis. The objectives of this study were to analyze the risk management practices undertaken by Commercial Banks in Kenya and to determine and assess the effect of these risk management practices on their financial performance. The risks facing financial institutions are mainly classified into; strategic, operational, credit and market risks. In managing these risks, the risk management approach adopted by the owners and/or management was influenced by the organizational culture and support, whether or not risk management is integrated in the setting of organizational objectives, whether there is a documented risk management policy or framework, how the risk identification process is conducted, the risk analysis process, evaluation and treatment of risk; risk......

Words: 541 - Pages: 3