Topic 5: Strategic Planning and Budgeting

Grand Canyon University Topic 5: Strategic Planning and Budgeting-Step-By-Step Guide

This guide will demonstrate how to complete the Grand Canyon University Topic 5: Strategic Planning and Budgeting assignment based on general principles of academic writing. Here, we will show you the A, B, Cs of completing an academic paper, irrespective of the instructions. After guiding you through what to do, the guide will leave one or two sample essays at the end to highlight the various sections discussed below.

How to Research and Prepare for Topic 5: Strategic Planning and Budgeting

Whether one passes or fails an academic assignment such as the Grand Canyon University Topic 5: Strategic Planning and Budgeting depends on the preparation done beforehand. The first thing to do once you receive an assignment is to quickly skim through the requirements. Once that is done, start going through the instructions one by one to clearly understand what the instructor wants. The most important thing here is to understand the required format—whether it is APA, MLA, Chicago, etc.

After understanding the requirements of the paper, the next phase is to gather relevant materials. The first place to start the research process is the weekly resources. Go through the resources provided in the instructions to determine which ones fit the assignment. After reviewing the provided resources, use the university library to search for additional resources. After gathering sufficient and necessary resources, you are now ready to start drafting your paper.

How to Write the Introduction for Topic 5: Strategic Planning and Budgeting

The introduction for the Grand Canyon University Topic 5: Strategic Planning and Budgeting is where you tell the instructor what your paper will encompass. In three to four statements, highlight the important points that will form the basis of your paper. Here, you can include statistics to show the importance of the topic you will be discussing. At the end of the introduction, write a clear purpose statement outlining what exactly will be contained in the paper. This statement will start with “The purpose of this paper…” and then proceed to outline the various sections of the instructions.

How to Write the Body for Topic 5: Strategic Planning and Budgeting

After the introduction, move into the main part of the Topic 5: Strategic Planning and Budgeting assignment, which is the body. Given that the paper you will be writing is not experimental, the way you organize the headings and subheadings of your paper is critically important. In some cases, you might have to use more subheadings to properly organize the assignment. The organization will depend on the rubric provided. Carefully examine the rubric, as it will contain all the detailed requirements of the assignment. Sometimes, the rubric will have information that the normal instructions lack.

Another important factor to consider at this point is how to do citations. In-text citations are fundamental as they support the arguments and points you make in the paper. At this point, the resources gathered at the beginning will come in handy. Integrating the ideas of the authors with your own will ensure that you produce a comprehensive paper. Also, follow the given citation format. In most cases, APA 7 is the preferred format for nursing assignments.

How to Write the Conclusion for Topic 5: Strategic Planning and Budgeting

After completing the main sections, write the conclusion of your paper. The conclusion is a summary of the main points you made in your paper. However, you need to rewrite the points and not simply copy and paste them. By restating the points from each subheading, you will provide a nuanced overview of the assignment to the reader.

How to Format the References List for Topic 5: Strategic Planning and Budgeting

The very last part of your paper involves listing the sources used in your paper. These sources should be listed in alphabetical order and double-spaced. Additionally, use a hanging indent for each source that appears in this list. Lastly, only the sources cited within the body of the paper should appear here.

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The scope of the leadership practicum project is to develop a team-building activity aimed at boosting camaraderie that will improve work relationships and create a positive, healthy environment at Seattle VA Medical Center. The proposed team-building activity is simulation training, whereby healthcare providers will be grouped into teams. In the teams, they will experientially perform various teamwork skills, like interpersonal communication and coordination, in an environment that mimics the patient care setting. McEwan et al. (2018) explain that simulation training is an effective approach to teamwork intervention. The simulation activities will facilitate reflection on practice by the health providers through a shared review of what transpired in the simulation scenario and how they can apply the lessons gained in strengthening their work relationships.

The project’s budgetary requirements will include a budget for the simulation facility, personnel, training materials, and equipment. Personnel costs will consist of all the human resources needed to facilitate the training, including instructional, administration, and clerical (Fletcher, 2018). Facilities costs will include the resources needed to provide physical space for the training. Equipment and materials will consist of instructional equipment, furnishings, and supplies. Other costs will include instructor training and insurance costs.

The first step needed in the budget planning process to implement the project is to use historical data. I will evaluate similar past projects and their budgets to get a head start on creating my budget. In addition, I will evaluate the successes and mistakes of past projects, which will provide a clear path that will lead to more accurate estimates (Fletcher, 2018). The next step will be to leverage experts in budget creation since they have experience and knowledge. I will consult my preceptor and project managers in the facility. Afterward, I will baseline and re-baseline the budget. The project’s budget will be the baseline by which its progress will be measured once it has started (Fletcher, 2018). However, as change occurs, I will re-baseline the project. In addition, I will update the budget in real-time as soon as changes occur to ensure there is no wastage.

References

Fletcher, J. D. (2018). Economic considerations in simulation-based training. In Fundamental issues in defense training and simulation (pp. 135-154). CRC Press.

McEwan, D., Ruissen, G. R., Eys, M. A., Zumbo, B. D., & Beauchamp, M. R. (2018). The Effectiveness of Teamwork Training on Teamwork Behaviors and Team Performance: A Systematic Review and Meta-Analysis of Controlled Interventions. PloS one, 12(1), e0169604. https://doi.org/10.1371/journal.pone.0169604

Practicum Activities Reflection

The bulk of the past two weeks has been on strategic planning and budgeting. I have amassed immeasurable lessons on the same, especially on their need in the healthcare sector. Regarding strategic planning, I have understood that it follows five steps where one starts by establishing a strategic position, follows up by prioritizing objectives, coming up with a strategic plan, executing and managing the plan, and finally reviewing and revising the plan (Ali, 2018). In healthcare, strategic planning not only looks at the goals and objectives but also integrates the economic trends, government policies, and technological advancements. There is also a need to assess how the organization operates to create an effective strategic plan for the entire healthcare system. On budgeting, the takeaway was the need to create a sound capital budgeting process to allow more useful investments and less room for errors in purchasing. Equally, I had a deeper insight into the four phases of the budget cycle namely preparation and submission, approval, execution, and audit and evaluation (Stadhouder et al., 2019). My preceptor was instrumental in the two weeks as she acted as a role model and monitored and guided my learning experience. She provided feedback regarding my questions and corrected my errors. She displays competency in instructing, interpersonal, and competency assessment. She also practices effective communication, coaching, critical thinking, and reflective practice.

Application of Leadership

Change management refers to an organized, structured approach that helps a healthcare organization transform workflows seamlessly. Any change comes with challenges, distress as well as opportunities. To manage change, I prepare by paying attention to talk about change, and understanding what’s happening, its impact on my profession, and the opportunities available. I further look at worst-case scenarios and take steps to reduce their impact through training or updating my CV. I have learned to accept the reality of change, adjust my expectations, and control myself. Empowering myself through the identification and use of resources, skills, strengths, and support network places facilitates the change management process (Rosenbaum et al., 2018). Acknowledging my feelings tackles the emotional aspects of change while taking my time act as a coping strategy to dispel the stress and disorienting aspects of change. I re-examine my priorities through reflection and re-evaluation as I adapt to the new situation and learn from the experience of change.

My approach aligns with the principles of strategic management linked to change management. First, the principles advocate for understanding change by outlining what needs to change, key objectives, benefits of the change, impact, effect, and resources needed to achieve the change. People have to be confident that the new approach will be better compared to the old way of doing things. The second principle is planning the change by adopting the right change methodology (Rosenbaum et al., 2018). Some aspects to consider are sponsorship, involvement, and buy-in of the proposed change. Implementation follows where a model like Kotter’s 8-Step change model is used to guide the process.

Practicum Project Preparation

My project goal is to create a happy positive environment where staff/leaders are open, receptive, and have trust in each other as this will increase motivation and productivity among staff. I also expect to decrease burnout and decrease high staff turnover while creating a solid foundation of team building/teamwork and promoting resiliency. The project plans to establish HRO with an overall goal of fostering happy staff and a positive environment and promoting high quality and safe care. The goals align with the current organization whose mission is to provide patient-centered healthcare with excellence in quality, service, and access. Vision-wise, the organization aims at creating a community in which all people achieve their full potential for health and well-being across their lifespan. The organization needs to cultivate an environment of trust, honesty, mutual respect, equality, and ethics and work continuously to improve medical care to sustain and further improve clinical outcomes, patient safety, and patient satisfaction. Project goals should always align with the organization’s needs to avoid poor utilization of the organization’s resources.

Leadership Video Reflection

According to DelHousaye (2016), authority refers to legitimate power that allows one to influence and benefit others. It depicts the legitimate right that paves way for someone to influence others without forcing them. Authority can either be formal or informal. Formal authority is what gives a person their right and their position. As long the position is acknowledged one gets the right to make decisions and steer an organization or a group. Informal authority on the other hand arises when people give a person the right to make decisions in their life because they trust them and their integrity (DelHousaye, 2016). As a servant leader, it is crucial to progress from formal authority to informal authority to have a power that people desire willfully instead of dictating decisions.

References

Ali, A. A. (2018). Strategic planning–organizational performance relationship: Perspectives of previous studies and literature review. International Journal of Healthcare Management, 11(1), 8-24. https://doi.org/10.1179/2047971915Y.0000000017

DelHousaye, D. (2016). Servant Leadership – The Issue Of Authority. https://youtu.be/Z8yMNFMp0k8?list=PLqKj_eriTOI9Js2i_C2mitH1P96Zf6Q__

Rosenbaum, D., More, E., & Steane, P. (2018). Planned organisational change management: Forward to the past? An exploratory literature review. Journal of Organizational Change Management. https://doi.org/10.1108/JOCM-06-2015-0089

Stadhouders, N., Kruse, F., Tanke, M., Koolman, X., & Jeurissen, P. (2019). Effective healthcare cost-containment policies: a systematic review. Health Policy, 123(1), 71-79. https://doi.org/10.1016/j.healthpol.2018.10.015

Topic 5: Strategic Planning and Budgeting