Build a comprehensive business plan for a strategic initiative.

The purpose of this assignment is to build a comprehensive business plan for a strategic initiative.

Throughout Topics 4-7 various components of the business plan for your strategic initiative were created. Review the feedback you received from your instructor on the Business Plan Parts 1-4 assignments. Make necessary revisions to each part of the business plan and put each revised part of the plan together to create the final business plan for the proposed strategic initiative. Evidence of revision based upon instructor feedback will be assessed. Additionally, you will add a new section to the plan regarding strategic evaluation.

In a 1,500-2,000 word business plan that is clear and concise and utilizes business language and style, address the following using bullet points, narratives, and relevant visuals.

The final plan should include the following components:

SWOT Analysis
Financial Analysis and Budget
Strategy
Implementation Schedule
Strategic Evaluation: Discuss specific tools to be used to monitor the implementation success of the initiative and explain why ongoing strategic evaluation and the willingness and ability to adjust strategy is necessary for successful implementation of the initiative.

While APA style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

This assignment uses a rubric. Review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

Study Aide for week 8 for HCA 470- Strategic Planning and Implementation in Health Care.

Business Plan Part 5: Revision and Final Business Plan

The purpose of this assignment is to build a comprehensive business plan for a strategic initiative.

In a 1,500-2,000 word business plan that is clear and concise and utilizes business language and style, address the following using bullet points, narratives, and relevant visuals. 1500 to 2000 words in length (title and reference pages are not included in word count) (it is ok to go over).

The final plan should include the following components:

SWOT Analysis

Financial Analysis and Budget

Strategy

Implementation Schedule

Strategic Evaluation: Discuss specific tools to be used to monitor the implementation success of the initiative and explain why ongoing strategic evaluation and the willingness and ability to adjust strategy is necessary for successful implementation of the initiative.

This assignment uses a rubric. Review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance.

Rubric grading criteria:

SWOT analysis, including strategic goals and identification of four strengths, weaknesses, opportunities, and threats supported by credible sources is exemplary.

Budget table, financial data overview, and supporting financial statement figure/appendix is thorough, accurate, and includes substantial supporting details and data.

Strategy, including history/rationale, market analysis, measurable goals, project structure, stakeholder analysis, communication plan, and leadership skills, is thorough and includes substantial explanation and relevant supporting details.

Implementation schedule, including action steps, resources and competencies, and action plan alignment to the organization’s strategic initiatives, is exemplary.

Discussion of tools that can be used to monitor the success of the implementation of the initiative and explanation of why ongoing strategy evaluation and willingness and ability to adjust strategy is necessary for successful initiative implementation is thorough and includes substantial relevant details.

Final draft shows evidence of revision of the content of Parts 1-4 of the business plan. Instructor feedback was fully implemented.

Thesis is comprehensive and contains the essence of the paper. Thesis statement makes the purpose of the paper clear.

Clear and convincing argument presents a persuasive claim in a distinctive and compelling manner. All sources are authoritative.

Writer is clearly in command of standard, written, academic English.

All format elements are correct.

Sources are completely and correctly documented, as appropriate to assignment and style, and format is free of error.

Our class is a Strategic Planning and Implementation in Health Care class so it is important to use facts and figures in your reasoning and justification of your assertions. I specialize in health care strategic planning so that may be a reason why I stress statistics and facts in studying health care systems. We want more than just opinions. It is important in writing college papers, to justify your comments and conclusions with concrete facts. I recommend that you include quantitative data concerning your written assignments. Just as facts and data are the foundation of a good health care quality control program, they should also be a part of your health care written assignments. This is essential for a critical thinking and substantive analysis. Indeed, in the study of health care, it is essential to analyze statistical data in your critical thinking study. Incorporating expert input into your assignments is very important to a quality, academic paper and this can be done through outside sources.

< Use headings for each section of your papers for the written assignments. The APA rule for this is to have the heading centered (not bold) and the first letter of each major word capitalized.

> Develop your critical thinking skills in your analysis in your paper. Critical thinking skills are extremely important in developing a successful career. Critical thinking is the intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication, as a guide to belief and action (Defining Critical Thinking, 2015). Be sure to incorporate your critical thinking skills into your discussion questions, participation comments, and your written assignments. This is where outside sources and key statistics can be very helpful with your critical thinking skills in your class work.

References

Defining Critical Thinking. (2015, October 28). Retrieved from Criticalthinking.org: http://www.criticalthinking.org/pages/defining-critical-thinking/766

We have 2 discussion questions due this week. I look forward to interacting with you in our discussion forum. Thank you and have an amazing week. Let me know if you have any questions.

Here are the GCU participation and discussion question guidelines.

The grading rubric for this assignment is below.

**– Weekly Participation Grading Rubric – Key Grading Criteria.

*Two initial responses to the two discussion questions. (one response for each discussion question) These initial responses do not count toward your participation grade. These two discussion questions are each graded separately.

*At least six (6) posts to colleagues. I recommend that you use 75 to 100 words on your text posts to colleague’s comments.

*Posts made on three separate days during the week with a first post by Wednesday for DQ 1 and for DQ2 Friday.

*****Total: 10 possible points (8 total responses for the week).

The grading rubric for this assignment is below.

**– Weekly Discussion Question Grading Rubric – Key Grading Criteria.

*Initial response to the discussion question which must be at least 125 words in length (reference page is not included in the word count).

*Content, substance, critical thinking analysis. An expert input thorough an outside source improves the academic quality of your posts. Use of an outside source to strengthen critical thinking analysis using complete APA formatting.

I cannot believe how quickly our class went by! It was great to work with you and to see how well you progressed through the class. You did it and brilliantly!

You balanced work, school, and family life and this can be a challenge at times. I can tell that you are a hard worker. It showed through your class work. We covered a lot of information in our seven-week class. A successful Oklahoman lawyer once told me “It’s not always how much that you know but if you know where to find the information that makes a person successful.” Be a good researcher in finding information and Internet can be very helpful. There were some great discussions in the class!

Be an expert at your trade and learn it well. Be a diligent, hard worker at your place of employment and at school. Try to always do the best you can and you should be successful in whatever you put your hands to.

I would like to suggest another piece of advice. Salaries and employment are also based on the economic laws of supply and demand. If the supply of available workers are low in your field of expertise, the salary will be high. If you have education, certifications, or licenses, it seems to help you move up into the next level of professional jobs with better salaries. Some examples are master’s degree, PHD, pharmacist, JD, MD, RD, RN, CPA. Scan the employment ads of the newspaper and Internet to see what jobs are in demand in your area and requirements and salaries. CareerBuilders.com and Beyond.com are very good to job search websites. Good jobs are competitive, so work hard to maintain good grades and work in a field that you enjoy. Also, experience is also very important so consider that if you are offered a job that offers a lower salary but good training and experience.

Here is some advice that I like to give to my junior college students who are just starting their careers after high school. Find out what you are good at and then find a way to make money doing it. Everyone has a unique and special gift.

Well, thank you for your contributions and efforts put forth in the class. Best of wishes and continued success with your work and with the Grand Canyon University. Thank you for choosing Grand Canyon University to earn your degree. We will try our best to continue to give you a quality education.

Professor Steve

References

The 20 Best Job Search Web Sites. Retrieved from http://www.pcmag.com/article2/0,2817,2342781,00.asp

3 John 2 Beloved, I wish above all things that thou mayst prosper and be in good health, even as thy soul prospereth.

Thank you and let me know if you have any questions.

Instructor Steve

Course Code Class Code HCA-470 HCA-470-O101

Criteria Percentage Content 65.0%

SWOT Analysis 10.0%

Financial Analysis and Budget 10.0%

Strategy 15.0%

ImplementaFon Schedule 10.0%

Strategic EvaluaFon 10.0%

Evidence of Revision 10.0%

OrganizaFon, EffecFveness, and Format 35.0%

Thesis Development and Purpose 10.0%

Argument Logic and ConstrucFon 10.0%

Mechanics of WriFng (includes spelling, punctuaFon, grammar, language use) 10.0%

Paper Format (use of appropriate style for the major and assignment) 2.0%

DocumentaFon of Sources (citaFons, footnotes, references, bibliography, etc., as appropriate to assignment and style) 3.0%

Total Weightage 100%

Assignment Title Business Plan Part 5: Revision and Final Business Plan

UnsaFsfactory (0.00%)

SWOT analysis, including strategic goals and idenFficaFon of four strengths, weaknesses, opportuniFes, and threats supported by credible sources is not included.

Budget table, financial data overview, and supporFng financial statement figure/appendix is not included.

Strategy, including history/raFonale, market analysis, measurable goals, project structure, stakeholder analysis, communicaFon plan, and leadership skills, is not included.

ImplementaFon schedule, including acFon steps, resources and competencies, and acFon plan alignment to the organizaFon’s strategic iniFaFves, is not included.

Discussion of tools that can be used to monitor the success of the implementaFon of the iniFaFve and explanaFon of why ongoing strategy evaluaFon and willingness and ability to adjust strategy is necessary for successful iniFaFve implementaFon is not included.

Final dra` shows no evidence of revision of the content of Parts 1-4 of the business plan.

Paper lacks any discernible overall purpose or organizing claim.

Statement of purpose is not jusFfied by the conclusion. The conclusion does not support the claim made. Argument is incoherent and uses noncredible sources.

Surface errors are pervasive enough that they impede communicaFon of meaning. Inappropriate word choice or sentence construcFon is used.

Template is not used appropriately, or documentaFon format is rarely followed correctly.

Sources are not documented.

Total Points 200.0

Less Than SaFsfactory (65.00%)

SWOT analysis, including strategic goals and idenFficaFon of four strengths, weaknesses, opportuniFes, and threats supported by credible sources is incomplete and/or incorrect.

Budget table, financial data overview, and supporFng financial statement figure/appendix is incomplete and/or incorrect.

Strategy, including history/raFonale, market analysis, measurable goals, project structure, stakeholder analysis, communicaFon plan, and leadership skills, is incomplete and/or incorrect.

ImplementaFon schedule, including acFon steps, resources and competencies, and acFon plan alignment to the organizaFon’s strategic iniFaFves, is incomplete and/or incorrect.

Final dra` shows minimal evidence of revision of the content of Parts 1-4 of the business plan. Most instructor feedback was not implemented.

Thesis is insufficiently developed or vague. Purpose is not clear.

Sufficient jusFficaFon of claims is lacking. Argument lacks consistent unity. There are obvious flaws in the logic. Some sources have quesFonable credibility.

Frequent and repeFFve mechanical errors distract the reader. Inconsistencies in language choice (register) or word choice are present. Sentence structure is correct but not varied.

Appropriate template is used, but some elements are missing or mistaken. A lack of control with formadng is apparent.

DocumentaFon of sources is inconsistent or incorrect, as appropriate to assignment and style, with numerous formadng errors.

SaFsfactory (75.00%)

SWOT analysis, including strategic goa() and idenFficaFon of four strengths, weaknesses, opportuniFes, and threats is included but lacks specificity and support from credible sources.

Budget table, financial data overview, and supporFng financial statement figure/appendix is included but lacks accuracy, supporFng details and data, and/or is unrealisFc.

Strategy, including history/raFonale, market analysis, measurable goals, project structure, stakeholder analysis, communicaFon plan, and leadership skills, is included but lacks explanaFon and relevant supporFng details.

ImplementaFon schedule, including acFon steps, resources and competencies, and acFon plan alignment to the organizaFon’s strategic iniFaFves, is included but lacks clarity and specificity.

Final dra` shows evidence of revision of the content of Parts 1-4 of the business plan. Instructor feedback was parFally implemented.

Thesis is apparent and appropriate to purpose.

Argument is orderly but may have a few inconsistencies. The argument presents minimal jusFficaFon of claims. Argument logically, but not thoroughly, supports the purpose. Sources used are credible. IntroducFon and conclusion bracket the thesis.

Some mechanical errors or typos are present, but they are not overly distracFng to the reader. Correct and varied sentence structure and audience-appropriate language are employed.

Appropriate template is used. Formadng is correct, although some minor errors may be present.

Sources are documented, as appropriate to assignment and style, although some formadng errors may be present.

Good (85.00%)

SWOT analysis, including strategic goals and idenFficaFon of four strengths, weaknesses, opportuniFes, and threats supported by credible sources is complete and correct.

Budget table, financial data overview, and supporFng financial statement figure/appendix is complete, mostly accurate, and includes supporFng details and data.

Strategy, including history/raFonale, market analysis, measurable goals, project structure, stakeholder analysis, communicaFon plan, and leadership skills, is complete and includes explanaFon and relevant supporFng details.

ImplementaFon schedule, including acFon steps, resources and competencies, and acFon plan alignment to the organizaFon’s strategic iniFaFves, is complete, clear, and specific.

Final dra` shows evidence of revision of the content of Parts 1-4 of the business plan. Most instructor feedback was implemented.

Thesis is clear and forecasts the development of the paper. Thesis is descripFve and reflecFve of the arguments and appropriate to the purpose.

Argument shows logical progression. Techniques of argumentaFon are evident. There is a smooth progression of claims from introducFon to conclusion. Most sources are authoritaFve.

Prose is largely free of mechanical errors, although a few may be present. The writer uses a variety of effecFve sentence structures and figures of speech.

Appropriate template is fully used. There are virtually no errors in formadng style.

Sources are documented, as appropriate to assignment and style, and format is mostly correct.

Excellent (100.00%) Comments

SWOT analysis, including strategic goals and idenFficaFon of four strengths, weaknesses, opportuniFes, and threats supported by credible sources is exemplary.

Budget table, financial data overview, and supporFng financial statement figure/appendix is thorough, accurate, and includes substanFal supporFng details and data.

Strategy, including history/raFonale, market analysis, measurable goals, project structure, stakeholder analysis, communicaFon plan, and leadership skills, is thorough and includes substanFal explanaFon and relevant supporFng details.

ImplementaFon schedule, including acFon steps, resources and competencies, and acFon plan alignment to the organizaFon’s strategic iniFaFves, is exemplary.

Final dra` shows evidence of revision of the content of Parts 1-4 of the business plan. Instructor feedback was fully implemented.

Thesis is comprehensive and contains the essence of the paper. Thesis statement makes the purpose of the paper clear.

Clear and convincing argument presents a persuasive claim in a disFncFve and compelling manner. All sources are authoritaFve.

Writer is clearly in command of standard, wrigen, academic English.

All format elements are correct.

Sources are completely and correctly documented, as appropriate to assignment and style, and format is free of error.

Points Earned

Running Head: STRATEGIC BUDGETING

STRATEGIC BUDGETING

Missing APA number on page one.

The Role of Strategic Initiative in Budgeting

Stefanie Williams

Professor Klense

Grand Canyon University

HCA-470

08/12/2020

The Role of Strategic Initiative in Budgeting

Formulating strategic priorities in an organization ensures that the proposed budget and operations are laid towards achieving the goals and short-term objectives which will lead to the success of the organization (Liu, Wang, Li & Ma 2018). The role of Human resources and staff training is important in decision-making when it comes to proper choices made while formulating the budget policy. Strategic financial management plays a key role in financing the operations in the formulated budget to maximize profits. Any profit-making organization has a responsibility to ensure that the financial strategy explored by the company fits into the business plan used by that company and changes should be made to adjust the absolute differences. Organizations have the responsibility to convert their visions and goals into relevant practical results. For instance, an organization has a goal to strive and become the top competitor in the industry. In this case, the organization’s big aim is to formulate a portfolio of strategic initiatives that oversee the organization’s outcomes in terms of SWOT analysis.

The strategic goal of the organization is to become one of the top competitors in the industry. This is a poor strategic plan in my opinion. It is so general. Please read the suggestions that I had on the study aide for week 4 that I posted. Basing on SWOT analysis, the outcomes in response to the company’s strengths include; the ability of the company to differentiate its competitors, adequacy of financial resources to finance the proposed strategic budget and the ability to innovate new programs and services that are aimed to improve product quality and therefore increase the company sales (Wolf & Floyd 2017). The outcomes that define the company weaknesses concerning this particular company goal include; the ability to lose key competent skills as the industry may be too competitive, the company may end up also incurring a decrease in the physical position with other competitors and the tendency of keeping a poor record of the implemented strategic plans. Priorities and opportunities are possible outcomes that the company expects from the formulated strategic initiatives. The expected opportunities include; market diversification, the expectation of weak competitors, venturing into new markets and segments, and also increasing the sales to reach more consumers (Ponomareva 2017). The threats related to this goal include; change in demography, influencing government policies, and the increasing pressure from competitors.

Simple budget for the strategic initiative

Profitmaking organizations aim at formulating a surplus budget that accommodates all the expenditures of the company using the available capital and relevant incomes. This will ensure that the company is working towards profit maximization.

I am not sure what this budget will be used to build?

Incomes/ Capital	Amount($)	Expenditures	Amount($)
Revenue from sales	23,640M	Operating expenses including; salaries, staffing, equipment	9,843M
		Cost of sales	12,709M
Total Net Income	1,088M

Using the strategic budget above, we conclude that the company’s goal of becoming the top competitor is achieved because the company maximized its profits as compared to the previous years, 2017 and 2018 (CHENG 2019). An overview from the financial statements year ended December 31st, 2019 provides that the company registered revenue from sales worth, 23.640Billion Us Dollars. In return, the company incurred a wide range of expenditures that added up to $9.843billion (Silva 2019). We, therefore, conclude that the company has strategized its budgeting initiatives that have ensured the company sticks to the proposed surplus budget and led to profit maximization. I do not see that name of your selected health care organization.

References

CHENG, C. (2019). The Appraisal of Financial Performance of Adidas Group (Doctoral dissertation, Masarykova univerzita, Ekonomicko-správní fakulta).

Liu, J., Wang, P., Li, T., & Ma, G. (2018). Analysis of Budget and Cost Control of New Green Building Projects. Journal of Architectural Research and Development, 2(4).

Ponomareva, S. A. (2017). The coherence of strategic and budget planning: the experience of the Vologda region. Regionalʹnai︠a︡ Ėkonomika. I︠U︡g Rossi, (1 (15)).

Silva, E. F. F. D. (2019). Equity research-Adidas AG (Doctoral dissertation, Instituto Superior de Economia e Gestão).

Wolf, C., & Floyd, S. W. (2017). Strategic planning research: Toward a theory-driven agenda. Journal of Management, 43(6), 1754-1788.

You gave a fair explanation of your strategic plan and health care organization. You had some good information on your budget table and its expense accounts. You put together some good financial information from your selected health care organization.

Please review the graded rubric I have completed for your paper for more insight and feedback concerning my evaluation and your grade. It is really important that you review the rubric for this assignment because it has much more detail on the expectations and grading criteria that was used in evaluating your paper.

Perhaps more outside sources could have given you more information to get top scores on all aspects of the assignment. I recommend that you read and study all of the information and examples that I provided in the week 4 and 5 study aides which you can find in the Announcements section of our class.

————–

Some good work. The Patient Protection and Affordable Care Act (PPACA) is a large change in our U.S. health care system. You covered the questions and have a good explanation of it in general terms. Some more quantitative data and analysis would have been helpful in analyzing this health care reform bill. It is really hard to point out the problems in the US health care system without more supporting numbers or statistics. Going forward, what is your opinion of it and any recommendations to improve it? Be sure to closely review the grading and feedback in the rubric for this assignment. Perhaps some more outside sources would have given you more to write about.

Not much analysis. & short.

——————-

In a 250-500 words, address the following in the form of an executive summary:

Briefly describe the proposed strategic initiative including the proposed changes and expected outcomes based upon the results of the SWOT analysis.

Provide a simple budget for the strategic initiative. Include all relevant budget categories such as staffing (including salaries and benefits), space, equipment, training and education, and any other expenses related to the initiative. Create a table to efficiently present the key budget information.

Provide a financial data overview that summarizes what financial data you examined and a description of specific factors that informed each financial statement (net revenue, profit/loss, balance sheet, etc.).

Include at least one of the financial statements available from the selected organization (income statement, budgets, net revenue, profit/loss statements, etc.) as a figure or an appendix.

This assignment uses a rubric. Review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance.

Rubric Grading Criteria:

Description of proposed strategic initiative, including proposed changes and expected outcomes based upon the results of the SWOT analysis, is exemplary.

Budget table, including all relevant budget categories such as staffing, space, equipment, training, education, and other initiative-related expenses, is thorough, accurate, and realistic.

Figure or appendix containing a financial statement from the selected organization is complete and correct.

Summary of financial data examined to create the budget, including description of specific factors relevant to each financial statement, is thorough and includes substantial explanation and supporting data.

Thesis is comprehensive and contains the essence of the paper. Thesis statement makes the purpose of the paper clear.

Clear and convincing argument presents a persuasive claim in a distinctive and compelling manner. All sources are authoritative.

Writer is clearly in command of standard, written, academic English.

All format elements are correct.

Sources are completely and correctly documented, as appropriate to assignment and style, and format is free of error.

—————–

Build a comprehensive business plan for a strategic initiative.

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