Question: All operational elements must tie together for operational success. It starts with mission and vision; what are the organization's key objectives? How do all activities
All operational elements must tie together for operational success. It starts with mission and vision; what are the organization's key objectives? How do all activities support this mission and vision? Then leaders must make sure selected activities are financially viable and are strategic. This is where financial planning comes in. There must be some money made. Most organizations have a percentage that is aimed for. This can be referred to as the operating margin. The operating margin is operating income divided by revenues (Cleverly, Song, & Cleverly, 2017). This is only a snapshot of how an organization is performing. There are other benchmarks also used. We use accounting to develop these snapshots. Class - Think about this in terms of data analytics. What operating margins should hospitals aim for
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