QUESTION 1 (700 WORDS) (Leadership theories)
- What organizational leadership theories you have experienced the most as Market Analyst/ Business Developer? And which one suits you the best and why.
- What leadership theories or concepts have been a struggle for leaders you have had in the past or currently? And why do you think the theories or concepts have been a struggle for them?
Most Common Experienced Organizational theories and Approach as Business Developer
As a Market Analyst one would readily experience and practice many leadership theories in the process of learning. Of course, the literature on various leadership theories are growing on a daily basis and times seems to contradict to popular knowledge on leadership theories and practice. In as much as there is no generally acceptable best theory on leadership, there are, however, some theories of leadership that as a market analyst we readily come across and practice. The most popular leadership theories practiced by professionals are built from the major perspective of leadership: leadership as a process and leadership as a combination of some characteristics; acquired or inborn.
In the early days, leadership is seen as inborn traits/characteristics. As such an individual is either born leaders with some qualities and not if he/she lacks those traits. This theory was criticized and the skill theory of leadership emerged, the skill theory argued that leadership skill can be learned and acquired over time. However, the problem still lies in lack of no consensus skills that must be learned leading to the spring of another yet a better theory which argues that different situation calls for different leadership styles.
QUESTION 2 (700 WORDS)
The CEO of a 100-bed Nursing Home has noticed that the board of directors is having a hard time understanding his vision of where the hospital needs to go. The CFO has a lot of trouble getting the board of directors to understand the organization’s key performance indicators/metrics using balanced scorecard and dashboard reporting. He has selected you to develop a scorecard and dashboard illustrating the key indicators and send the sample and a memo to the board members explaining the following:
- Your sample balanced scorecard and dashboard reporting
- Discuss the four key success factors of dashboard reporting
- NOTE: You may develop your own or research and find a healthcare balanced scorecard and dashboard online.
QUESTION 3 (4 PAGES) Cost concept
The CEO of a 400-bed hospital has scheduled a board of directors meeting to discuss the current financial situation of the hospital and steps that need to be done to correct some current problems. The CFO needs to send each board member an explanation of the financial statements that they will be discussing. You are the Director of Finance and he has asked you to put together a memo, explaining each statement. Do the following:
- Provide a copy of the most common four statements used within your hospital and what information is available in each.
- Make sure you explain each main components/section of each statement.
NOTE: You can develop your own set of statements or research and pull healthcare financial statements online