Paper- CEO interview
Use the name Charles Vallier as the CEO the hospital name is University General in Houston. Everything else can be created. Evaluate Chief Executive Officer as Capital Allocator:
After the strategic and financial planning process has determined that the organization has sufficient resources, the task of determining how to deploy or allocate that capital begins. Capital allocation involves determining whether any or all of the many potential capital projects or initiatives generated during the planning process make sense for the organization.
The best practices approach to capital allocation for healthcare organizations is similar to that of other industries. It is based on a contemporary definition of capital, which extends beyond traditional items such as property, plant, and equipment to everything that appears on a cash flow statement. It includes items as working capital funding for investment, start-up losses, joint venture investments, and all other items that take cash out of the organization. The allocation plan must be based on good ideas worthy of investment with clearly articulated objectives and principles. The governing principles must state that all cash needs of the organization will be consolidated in one fund and that all parts of the organization has equal access to cash flow generated by the organization. Capital investment decisions must include all key stakeholders (team members) in the process of ranking and scoring capital requests. Best practice capital allocation allows management discretion but uses quantitative, rigorous analytics to provide a financial context for all decisions. Effective allocation of capital requires the coordination of the organization?s financial planning, budgeting, and allocation processes.
Conduct an interview with a hospital CEO, either by the telephone or in person, and evaluate the CEO?s belief that governance is the linchpin to success of a capital allocation process. Determine the organization?s commitment to involving all levels of management to project approval as opposed to being a strictly finance function. Is capital best practice capital allocation driven by calendar management?
Length: 5 pages (app. 350 words per page)
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