budget-sec7A_2

budget-sec7A_2 - Striking a Balance in Making Decisions:...

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Unformatted text preview: Striking a Balance in Making Decisions: William J. Ward, Jr., MBA Striking a Balance in Making Decisions William J. Ward, Jr., MBA Johns Hopkins University Section A Balancing the Clinical Imperative and the Business Reality 1 Striking a Balance in Making Decisions: William J. Ward, Jr., MBA The Decision Balancing Act Ranking strategic criticality Critical = 5 . . . non-critical = 1 Subjective Committee approach Ranking profitability Benefit: cost ratio analysis, ROI, ROA, IRR Objective 3 The Decision Balancing Act Critical to strategic objectives Low/no profitability High profitability Not critical to strategic objectives 4 2 Striking a Balance in Making Decisions: William J. Ward, Jr., MBA Ranking the Opportunities Consistency with Strategic Plan 5 4 5 3 1 1 2 2 Opportunity Opportunity A Opportunity B Opportunity C Opportunity D Opportunity E Opportunity F Opportunity G Opportunity H Benefit: Cost Ratio 1.56 1.43 0.88 0.95 0.86 0.77 1.25 1.08 5 The Decision Balancing Act Critical to strategic objectives C A B D Low/no profitability High profitability H F G E Not critical to strategic objectives 6 3 Striking a Balance in Making Decisions: William J. Ward, Jr., MBA Challenges for Managers Understanding resource constraints The manager’s advocacy role 7 4 ...
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budget-sec7A_2 - Striking a Balance in Making Decisions:...

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