Strategic Financial Planning

1096 WordsJun 17, 20135 Pages
Strategic Financial Management Financial planning is the task of determining how a business will afford to achieve its strategic goals and objectives. Usually, a company creates a Financial Plan immediately after the vision and behavior have been set. The Financial Plan describes each of the activities, resources, equipment and materials that are needed to achieve these objectives, as well as the timeframes involved. The Financial Planning activity involves the following tasks;- * Assess the business environment * Confirm the business vision and objectives * Identify the types of resources needed to achieve these objectives * Quantify the amount of resource (labor, equipment, materials) * Calculate the total cost of…show more content…
Through research, you may be able to find badly managed companies, unsuccessful funds and other threats to your financial strategy One of the key environmental elements driving the interest in, and value of, rolling strategic plans is the abbreviated time horizons that healthcare leaders now face. The condensed planning cycle is a result of many factors in the market, including increased competitive pressures, heightened scrutiny by the public and the press, and the general high-profile status and challenges of the healthcare sector. Health care is consistently in the media headlights and, according to polls, on the public’s mind. It is viewed by many as both problematic and emblematic—a reflection of the high costs and diminishing access that increasingly frustrate and perplex the country, collectively and individually. Consequently, calls to address the problem and initiate change can be heard from all sides, including employer groups and political figures, resulting in federal and state legislation and regulation and other high profile efforts to improve the system. Onewell-known example is Massachusetts’ decision to provide health insurance for all its residents. Another is the recently announced rebasing initiative, in which the Centers for Medicare and Medicaid Services is recalibrating diagnosis related groups for the inpatient prospective payment system. Dynamism in the DetailsThe painful reality of many strategic plans is that, once completed,
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