Business Principles And Management 12th Edition James L. Burrow, Kenneth E. Everard, Brad Kleindl - Solutions

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If you were the president of an American company, would you set up a business in Utopia?Why or why not? Suggest ways by which Utopia can reduce its deficit or surplus.
Math The current accounts of the imaginary nation of Utopia for the past three years are given below in millions of dollars.Year 1 Year 2 Year 3 Exports of goods $100 $120 $125 Imports of goods $175 $195 $205 Exports of services $80 $100 $150 Imports of services $40 $60 $80 Other income from abroad
Explain how it is possible for the United States to have a deficit in its current account year after year.
If the value of the Canadian dollar continues to rise in relation to the American dollar, what can a Canadian exporter do to keep the price of the goods it sells in the U.S. market competitive?
How can a person from a low-context culture communicate with a person from a high-context culture and avoid misunderstandings?
Explain the purposes of the WTO, IMF, and World Bank.
Why is it easier for a firm to export instead of setting up a wholly owned foreign subsidiary?
The way by which governments restrict the availability of foreign goods, limiting the quantity or value of units permitted to enter a country, is calleda. quotab. sanctionc. limitationd. restriction
An agreement between two or more countries to remove all restrictions between them on the sales of goods and services, while imposing barriers on trade and investment from countries that are not part of it, creates a/ana. free-trade zoneb. economic unionc. trade agreementd. trading bloc
The international organization that creates and enforces the rules governing trade among countries is thea. United Nationsb. World Bankc. World Trade Organizationd. International Monetary Fund
A type of culture in which people communicate directly and explicitly, and a person is expected to come to the point directly and not beat around the bush is a/ana. direct cultureb. explicit culturec. low-context cultured. high-context culture
Culture includes all of the following excepta. lawsb. customsc. beliefsd. values
The arrangement in which one international company allows another international company in another country to make and sell products according to certain specifications is calleda. international joint ventureb. international licensingc. international franchised. international partnership
The Pacific Rim includes countries on the western edge of the Pacific Ocean such asa. South Koreab. Taiwanc. Chinad. all of the above
Record of investment funds coming into and going out of a country Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h. international business i. joint venture j.
Selling goods in a foreign market at a price that is below cost or below what is charged in the home country Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h.
Government block preventing companies from doing business with particular countries Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h. international business i.
Nontax methods of discouraging trade Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h. international business i. joint venture j. multinational firm k. nontariff
Taxes on foreign goods to protect domestic industries and to earn revenue Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h. international business i. joint
Value of one country’s currency expressed in the currency of another Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h. international business i. joint venture
Foreign location where a firm has facilities Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h. international business i. joint venture j. multinational firm k.
Firm that owns or controls production or service facilities in more than one country Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h. international business i.
Type of business in which a firm sets up a business abroad on its own without any partners Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h. international
Business arrangement in which two or more firms share the costs of doing business and also share the profits Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h.
Buying goods or services made in a foreign country Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h. international business i. joint venture j. multinational
Business activities that occur between two or more countries Write the letter of the term that matches each definition. Some terms will not be used.a. capital accountb. dumpingc. embargod. exchange ratee. home countryf. host country g. importing h. international business i. joint venture j.
In 2011, it was reported that there was a surplus of registered nurses in many parts of California(Bates, Keane, & Spetz, 2011). Identify possible explanations of the emergence of a surplus.What might have changed in the labor market? How can you depict this in a chart? What changes would switch
Medicare rules pay NPs 85% of the fee paid to physicians for ambulatory care. The ACA offers full payment to NPs for providing preventive services in an outpatient setting. How might this change affect the quality of care? Access? Costs?AppendixLO1
A growing share of health insurance plans have high deductibles, so that an individual must spend up to $6,450 before insurance begins to pay for services. What problem(s) are these insurance plans trying to solve? Answer this question using economic terminology related to health insurance. For
The fundamental problem of health policy is presented in Figure 1.13. Countries that have single-payer or other universal health insurance systems, such as Canada and Germany, face this problem, as does the United States. How might health policy try to address the fundamental problem in the context
List three ways the DNP provides leadership in helping a health care entity optimize reimbursement from insurers.AppendixLO1
Considering factors in today’s health care environment, draw from Remington’s lingering questions about the proper role of government. Select one question and propose a response.AppendixLO1
Choose two preferred financial and patient care outcomes from the following list and describe two ways to achieve each of them:a. Reduction in overall hospital admissionsb. Reduction in average length of stayc. Reduction in avoidable hospital readmissionsd. Reduction in high-tech imaging servicese.
Can the kind of care proposed in an IDS be provided in a system that has a primary focus on either provider or corporate incomes and profit accumulation?AppendixLO1
Why is it financially important for hospitals to institute effective discharge planning programs?AppendixLO1
Partnerships between acute care and community-based settings improve continuity of care.How do these partnerships influence reimbursement for health systems?AppendixLO1
Hospital readmissions. A 2017 Medicare Payment Advisory Commission (MedPAC) report found that Medicare hospital readmission rates have declined in recent years, but remain a concern. Incentives are needed to further reduce readmission rates and improve care coordination(MedPAC, 2017). Review this
24/7 coverage factor. Calculate and compare the 24/7 coverage factor for RNs working 8-hour and 12-hour shifts. Explain differences and similarities in the results.AppendixLO1
RN overtime hours and costs. As discussed in the third scenario in this chapter, the CNO of Pacific Hospital realizes that overtime hours and costs are excessive. The budget target is to reduce weekly overtime hours per FT RN from 6.5 to 4.0 hours. Strategies may include substitutes for overtime
Ambulatory care budget. The fourth scenario in this chapter presents an example of planning an outpatient nurse-led heart failure clinic. Develop a budget that includes performance and financial indicators and benchmarks for another type of outpatient service that might be provided at Pacific
Staffing guidelines for covering last minute shortages. The third scenario in this chapter presents the methodology for calculating cost per productive hour. Determine the wage variables for your unit/institution and calculate the productive costs per hour, per shift and per overtime shift.
Assume you need two RNs 24/7 (all three shifts) and the rotation would be every other weekend.How many worked FTEs would it require?a. 2.0 FTEsb. 4.2 FTEsc. 8.4 FTEsd. 10.6 FTEs AppendixLO1
A medical–surgical unit with a standard of 8.0 total worked HPPD and a budgeted ADC of 20 patients will need a minimum of _________ FTEs (exclude the nonproductive replacement factor):a. 35b. 22c. 28d. 32 AppendixLO1
This 20-bed medical–surgical unit with a standard of 8.0 HPPD has a budget of 14% nonproductive replacement (benefit only) factor. It needs _________ total paid FTEs.a. 34b. 32c. 30d. 36 AppendixLO1
Which of the following statements is true when the unit patient volume is below budget?a. Total worked FTEs will be below budget.b. Direct HPPD is at budget.c. Dollars per UOS is above budget.d. Total annual dollars per unit are at budget.a. 2 onlyb. 3 onlyc. 1 and 2d. All of the above AppendixLO1
Evaluate your organization’s mission, vision, and values statements and determine how well they match the current state of affairs. How well do they describe what your organization is, does, and aspires to be? How is the organization doing in aligning with its stated pillars? How well is the
Devise three people outcomes as well as related substrategies and tactics to improve your organization’s focus on alignment. Complete the tactical map template. Prepare an argument in support of your outcomes, substrategies, and tactics to be presented to the strategy committee.AppendixLO1
Using the data in Tables 6.4 and 6.5, calculate the total year-end bonus amount for a nurse manager who earns $100,000 annually, has a 10% bonus target, meets the individual financial contributions, and completes his or her assigned tactics, but fails to meet some of the individual and unit
Prepare a full 3-F framework for a new family nurse practitioner private practice, or a project of your choosing. Base your assumptions on research and trends, and utilize Excel for financial modeling. Prepare a presentation for the board of trustees or group of investors. Good luck and have
The invasive radiology department has just purchased a piece of equipment that enables them to perform many of their procedures faster. One of the results of this improvement is that they are able to schedule 20% more cases on an average weekday. During the preplanning of this improvement, the
Using the information in the table, complete the blank columns provided by calculating the variance (both positive and negative) for each month’s patient days and nursing hours. Enter your answer on the table in the blank columns.Month Actual Patient Days Budgeted Patient Days Variance Actual
Your hospital replaced its entire inpatient bed fleet 10 years ago (120 months) and the nursing departments are stating they need to be replaced again. The beds were originally purchased for $15,000 each and the replacement beds from the same vendor are now $20,000 each. At the time of the original
Review the income statement provided in Table 7.2 and address the following questions:a. From your analysis, you understand that the net margin for the organization has shown strong growth over the past year. What factor/s is/are driving this improved performance?b. What concerns do you have
Using the data in Table 7.1 and the definitions from Table 7.4, calculate the current ratio, quick ratio, and the debt ratio.a. What information do these ratios provide?b. If you were concerned about the result, what could be done to adjust these ratios?c. In what ways could these ratios be
Using the data in Table 7.1 and the definitions from Table 7.4, calculate the days cash on hand.a. What information does this financial ratio provide?b. If you were concerned about the result, what could be done to positively impact this ratio?c. In what ways could this ratio be negatively
Using the information in the following table, calculate the average daily census and the bed utilization rate over the last 3 months for this 395-bed hospital.Month July August September Days of service 11,480 10,150 9,765 AppendixLO1
As a DNP, you know how providing care that is measurable (at a financial as well as a quality level) can give you the ability to request additional funding. Take a moment and ponder a current project you are working on at your place of work. Could you, if requested, determine the costs associated
If a fictional treatment costs a total of $45,000 at today’s value and increases a person’s quality of life from 0.5 to 0.6 for the remainder of his or her life from age 70 and onward, and the person’s expected life span increases from 73 to 75, what would be the total gain in QALYs and what
With all the changes that are occurring in health care today, what are some of the challenges your environment is facing and what is your organization doing to plan for the financial consequences?AppendixLO1
What implications do you believe exist with MACRA? Do you believe that moving to a payment for quality over quantity is going to improve patient outcomes? Why?AppendixLO1
The CNO is reviewing patient satisfaction benchmark data from his facility and four similar facilities (see table). What conclusions can he make, given the information? What are the limitations of this information?Facility Mean Patient Satisfaction Score(1–40 Scale) Standard Deviation Number of
A group of nurse practitioners wish to explore the effectiveness of a new treatment approach.As a member of your agency’s research and practice committee, you review their proposal. They describe how they will use collected demographic data to statistically test the new treatment against the
The oncology inpatient unit has experienced a great amount of nursing staff turnover. In the last 6 months, five of the 22 permanent RN staff have left. In addition, the number of medication errors for the unit has risen from an average of two per month to a high of 11 errors last month. How could
You complete the calculation of the Pearson product moment correlation coefficient to determine the relationship of number of temporary RNs to the number of medication errors. Remember that correlation does not indicate cause and effect, but only that there is a quantifiable, directional
You are the chief nurse executive at an organization that provides clinic services to Medicare patients; there are seven clinics located in underserved areas. While visiting one of the clinics, you perform a routine audit. You notice that one physician, who has been excluded from the Medicare
You are an NP who sees mostly post-head trauma patients and refers many of these patients to physical and occupational services. On one routine follow-up visit, your patient claims that he has not had any of the services you suggested, even though you saw several bills from the consulting
You are the chief nursing executive for a small rural clinic that provides contraception services to low-income individuals. An insurer, providing care under the ACA, has rejected paying the claims, stating that they are a not-for-profit religious organization and are not obliged to cover these
You are an NP in a small hospital and you are reviewing the chart of a patient who underwent a second abdominal surgery. Six months after his initial surgery, the patient had to return to surgery for removal of a retained surgical instrument, an 11-inch retractor. On his follow-up appointment, your
SCENARIO-BASED DISCUSSION OF AIM STATEMENT The scenario: You are a DNP clinical coordinator in an urban teaching hospital that includes medical school students as well as a physician residency program. A medical resident inadvertently injected air into a patient’s central line, after an
SCENARIO-BASED DISCUSSION OF SWOT ANALYSIS Members of the team agree on the aim statement that you, as the DNP project manager, developed in Exercise 1 and they are ready to start developing the hospital-wide policy. Before starting on the policy, you ask team members to participate in a SWOT
SCENARIO-BASED DISCUSSION OF CHANGE IN LEADERSHIP The team is halfway through the project when you receive word that the chief medical officer (CMO) is planning to retire in a month. You are concerned about the project because the CMO was a strong supporter of the hospital-wide disclosure policy
SCENARIO-BASED DISCUSSION OF CONCLUDING PROCESS The procedure was presented to the full medical staff and approved after a lively discussion regarding the risks and benefits of having a hospital-wide disclosure policy. You worked with several key physicians who voiced their support and presented
“Smoke-Free SFMC” Project, St. Francis Medical Center, Lynwood, CA Established in 1945, St. Francis Medical Center (SFMC, 2013) is the only comprehensive, nonprofit health care institution serving Southeast Los Angeles. The medical center operates a 384-bed acute care hospital, one of the
A local Southern California hospital serving 5.5% of Los Angeles County’s population recently conducted a triennial community needs assessment and some of the significant community health needs identified were:• Obesity/overweight• Diabetes• Cardiovascular disease• Hypertension•
A university professor who has conducted research for many years of his career submitted a grant to the NIH to request funding to integrate a Spanish-Language Hospice video in the discharge planning processes for a number of hospitals surrounding the university. The grant application, which was
The health ministry in your faith community provides ongoing health promotion and disease prevention outreach to congregants within the context of their faith tradition, and to the community. As the director of health ministry, you are a DNP with many years of experience in acute care, faith
In groups of three, with each person acting as one of the C-suite leadership roles, identify and share with the class your hospital’s core values, core purpose, and what the future of the organization vividly looks like in 30 years.a. What do you personally value? What guides decision making and
a. Focus on a quality campaign of aggressive early ambulation. How will you differently consider and articulate patient and family engagement?2b. What is the value proposition of adding one unlicensed nursing assistive personnel (UAP)for every eight patients planned in a 24-bed medical–surgical
Review the data presented in Figures 13.1 and 13.2. Based on this information, consider the following questions and provide an action plan that is aligned to the hospital’s core purpose, vision, and values.a. Which units are running a census higher than the planned census?b. Which units are under
a. In your original C-suite grouping, explore other examples ripe for technology advancement in the area of human capital management.b. Look to industry outside of health care to expand your thinking.c. Present your thoughts to the group with rationale that ties back to your strategic vision, and
As our country ages, the impact of baby boomers turning 65 every 7 seconds is significant.What does this mean to the DNP? How can the DNP help the organization develop a plan for succession planning?AppendixLO1
Writing an executive summary should occur after the business plan is written. Think about a project or proposal that will either increase revenue or decrease expenses. Write a two-page concise executive summary outlining your proposal and the benefits.AppendixLO1
In a small group, build a business case to add clinical nurse specialists (CNSs) to a nursing unit.What are the costs? What are the benefits? How would you build a case to add this additional 1.0 FTE? How would you measure the ROI?AppendixLO1
Take a moment and think about the benefits that budgeting provides. Then write one sentence in response to each of these questions:a. How can budgeting help planning?b. How can budgeting improve communication?c. How can budgeting facilitate coordination?d. How can budgeting improve motivation?e.
Generally, it is believed when quality improves, cost is reduced. What statements would you make to defend this position?a. Identify the basic factors that affect the cost of quality.b. How can you, as a nurse or nurse leader, influence this area?AppendixLO1
Before you submit the budget for your unit or service, you decide to seek benchmarks from other organizations within the community.a. Describe the unit or service.b. How would you go about this undertaking?c. What indicators could be used to evaluate clinical and cost outcomes for comparison of
A variance report indicates the following:Cost Center: Nursing Month: March Unit: Intensive Care Unit Manager: Jenny Curtis Item: Actual Budget Variance Prior Explanation Plan Salaries Productive 85,670 76,243 (12.4)% 80,107 Salaries Overtime 4,547 6,701 32.1% 9,611 Salaries Contract 18,319 8,734
The details:Setting Ambulatory surgery hospital Problem Losing $200 per case per Medicare payer Payer mix One third each: Medicare, charity/self pay, managed care Strategic plan Grow business to valuable asset in the community hospital, enhancing its marketability in the larger hospital
Nurses around the globe are following the better wages. So-called marketing and recruiting companies are seeking to provide thousands of nurses to the growing modern medicine in the 374 Part IV. Entrepreneurship and the Future Middle East (e.g., The Hamas Medical Center in Qatar). How might the DNP
Still in keeping with the DNP’s role and responsibilities, the DNP is called to the gynecology unit to intervene in a dispute between a female patient requesting a voluntary interruption of pregnancy, a physician practitioner who has a professional relationship with the patient, and the husband,
Another use of the same scenario would be, “the patient is uninsured.” How will the decisionmaking process of the DNP proceed?In proceeding with Exercises 3 and 4, the DNP will identify all agents legitimately involved in the challenge. Will the insured/not-insured status enter into the
Writing Compare the list of management guidelines for enforcing work rules in Figure 12-4 with the procedures used by administrators and teachers to enforce the rules in your school. Develop a one-page report that compares the similarities and differences and explains in your view why those
Teamwork With a group of your class members, brainstorm things supervisors can do to increase the job satisfaction of workers.Identify the things that would have a direct cost to the business and those that could be provided with no real cost to the business.Compare the list developed by your group
Technology Identify someone you believe is a good manager. Interview the person to determine his or her beliefs about (a) the use of power by a manager, (b) whether people need close or limited supervision, and (c) leadership style. Using a computer, prepare three or more charts that list the major
Creativity Form a team of at least three classmates or join a team assigned by your teacher. Select one of the five human relations skills discussed in the chapter or use the skill assigned to you by your teacher. Think of a situation that could occur in a business that demonstrates the effective
Why must managers have self-understanding before they can effectively understand their employees?
During the recruitment and selection process, how can businesses identify new employees that are likely to be effective leaders?
Provide several examples of a manager using power inappropriately.Now provide other examples of how a manager uses power appropriately.
Using Figure 12-1, select the five most important leadership characteristics you believe are needed by business managers. Justify your choices.
How is effective human relations related to effective leadership?

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Business Principles And Management 12th Edition James L. Burrow, Kenneth E. Everard, Brad Kleindl - Solutions

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