Busi611.db.docx - The organization\u2019s strategic objectives should be considered by operations analysis because these strategic objectives help

Busi611.db.docx - The organizationu2019s strategic...

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The organization’s strategic objectives should be considered by operations analysis because these strategic objectives help hospitals to achieve profit, community health promotion, and serving the poor. Operation analysis represents a “valuable tool to management in measuring progress toward strategic objectives and identifying ways to improve performance that meets those objectives” (Langabeer & Helton, 2016, p. 392). Operations management and operations analysis work side by side, to understand differences and ways to make improvements and corrections as necessary. Metrics that match up to the organization’s objectives is an important factor to take into consideration when selecting the proper operational metrics. Examples of these operational metrics include ordinary least squares (OLS), linear regression, total factor productivity (TFP), stochastic frontier analysis (SFA), and data envelopment analysis (DEA). Ordinary least squares (OLS) is a very common logarithmic transformation and used in healthcare. OLS metric helps to predict costs after randomization. However, as with anything it has many drawbacks. One
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