Identification of managerial, financial, legal and ethical Essay

Identification of managerial, financial, legal and ethical implications - Essay Example Ethical Implications: Nurses all over the world are taught ways to minimize the chances of errors, however these errors still occur. Such errors also carry ethical implications and they should be answered properly in order to choose the best course of action. These errors include harm to the patient, whether to disclose important but unnecessary information to the customers and whether or not the healthcare personnel should accept their mistakes. One good solution to this problem is that everything in the healthcare system should be based on patient welfare. Information should only be disclosed to the patient if it is considered that it will benefit the patient, otherwise information should be kept with the healthcare institution and doctors and nurses who have treated the patient. (Nguyen et al. 2010) Financial Implications: Medication errors carry some financial risk and costs also. There are two types of financial costs associated with medication errors. First type of costs is dir ect costs and these are the cost of treatment. The second type of costs is indirect costs. These costs occur to reverse an error or money spent in eliminating the medication errors.

The Importance of Business Processes in Delivering Outcomes Essay

The Importance of Business Processes in Delivering Outcomes - Essay Example Depending on which industry an organization belongs, a business will provide needs that are products, services, or both. The usual end goals are: (1) profits for the Stakeholders; (2) customer satisfaction for the people who buy company products or avail of company services; (3) good management of employees; (4) skillful allocation, disposition, and maintenance of assets like cash, receivables, inventories, supplies, furniture, building, equipment, and vehicles; (5) wise sourcing of funds and timely payments of liabilities; (6) compliance with government regulations, specially the proper accounting and payment of taxes, permits, and other fees. (7) And for large corporations listed in the stock exchange, potential investors as well as existing investors also require that value of a company’s stock (otherwise known as Stock Value) has been increasing comparatively better than that of the competitors’ Stock Value. (8) All these have to be realized while the separate entity, be it a single proprietor, partnership, or corporation, is mindful of its social responsibilities for the community and the country wherein it belongs. (9) Finally, every business is expected to grow and to become stable. It also means resiliency to economic downturns. In the case of Quick Fit Furniture Co., the objectives revealed were the sales increase of 10% from the past year and the (2) implied need to improve the human relationship of its workforce between departments. II. Business Processes Have To Be Controlled In order to achieve all those goals, the Board of Directors, Top Executives, and the other Managers must be familiar with strategic ways by which goals can be accomplished. They have to be aware of the business processes from within and the external environment affecting those business processes. Moreover, resources allocated within each of them have to be controlled and directed towards arriving at desired outcome or results. From a general point of view, what business entrepreneurs and executives must do is to marshal the allocated resources within each process so that the output will contribute to the achievement of the ultimate goals. A diagram should clarify this concept. What are the business processes then ? According to Harvard Business School Press (2010, p. 4), â€Å"Technically, a business process is the set of steps a business performs to create value for customers. A process consists of three basic components: Inputs†¦Activities†¦Outputs.† The same book admits that â€Å"every organization contains large amounts of business processes† (p. 6). From the time a business is conceived, the processes of planning, organizing, directing, communicating, controlling, evaluating, and improving resources in all divisions and departments of the organization will continue to be ongoing. There are many activities taken in order to get things done. What will guide the implementation of plans are the objectives leading to the accomplishment of goals. As a matter of fact, every person working within the business has a corresponding set of activities called the duties and resp onsibilities defined and meant to meet specific needs to serve the interest of an entire organization. Let us take some examples. Under the Administrative Department, there are usually the following: recruitment activities, training and development activities, and personnel files record keeping activities, performance evaluation, and so on. Each of the activities have to meet certain standards. A company cannot just hire anybody to fill a position. Thus, during recruitment, testing activities and interviews are usually done. The most qualified personnel are chosen based on the criteria specified by the Department which requested for the hiring of personnel. For the Finance Department, some people with background in Accounting and/or Finance would have to be found. The activities they perform will be