StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Capital budget purchase - Term Paper Example

Comments (0) Cite this document
Summary
Capital Budget Course: Instructor: Capital Budget for the Latest Electronic Health Record The capital budget is very crucial for any organization that wants to make purchases or long term investment for assets such as building, equipment and vehicles…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.6% of users find it useful
Capital budget purchase
Read Text Preview

Extract of sample "Capital budget purchase"

Download file to see previous pages This item was prioritized for the broader benefits that it will bring to my department. The item is specially designed for easy operation for hospital caregivers to help them keep and manage the patients’ health records. For our surgical department services to be more efficient in accessing the patient’s records remotely and attend to the patients’ need effectively, this equipment will highly be required. Therefore, my choice for this equipment is founded on the basis that much efficiency will be derived from its use in order to improve the department’s service delivery ability (Eric, Paul, Anita, David, Kathleen, & Elizabeth, 2011). The estimated cost for the equipment is about $5,100, but the resulting improvement in patient care of the department will be much higher than this. Managerial Goals Productivity: The decision to purchase this equipment will increase productivity and service delivery whereby care givers and surgeons in charge will be able to access the patients’ charts remotely, they will be able to be alerted to attend to medical error and even be reminded to provide preventive care to their patients, hence high productivity is expected to result from the equipment purchase. Productivity will also result when the caregivers will not be expected to be around their patients throughout, and can only respond to their needs when alerted by the equipment, hence giving them time to attend to other duties. Quality: this equipment will enhance quality service delivery as most of the records will be automated and even in situations where the caregivers could have forgotten, they will be reminded by the device. Development: As a manager, by making this purchase, I will be ensuring that I bring new development to my staff and department as a whole. For the development to occur there must be a positive growth. And this technology is directed towards realizing this positive growth. Employee Support: this equipment, given its high efficiency level, will provide a lot of support to the employees as it is able to perform several things that could have been performed by the employees, effectively. Employees will therefore find their work much easier in providing care to their patients than when they use the manual records system. Economic Environment Enhancement There are various duties performed by this new electronic health record, which could otherwise be performed by the hospital employees. These include accessing the patients’ charts, attending to critical lab values, alert to potential medical error, provision of preventive care, identifying lab needed tests among others. The electronic health record system makes these duties easier to perform, as it automatically detects the required service and alert the person concerned to attend to the patient. This system when applied, will reduce cost of employing several employees since there will be no need to hire several caregivers when several of their duties can be performed by the electronic health record. As this cost is reduced, the department can divert this cost to other areas that really require much funding. Therefore, economically, this equipment can help my department save a lot of cost and enhance other areas with the same cost. Organizational Goals Patient Care: As it is in the goals of the organization to give the best care to the patients in an effort to ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Capital budget purchase Term Paper Example | Topics and Well Written Essays - 1000 words”, n.d.)
Capital budget purchase Term Paper Example | Topics and Well Written Essays - 1000 words. Retrieved from https://studentshare.org/nursing/1493401-capital-budget-purchase
(Capital Budget Purchase Term Paper Example | Topics and Well Written Essays - 1000 Words)
Capital Budget Purchase Term Paper Example | Topics and Well Written Essays - 1000 Words. https://studentshare.org/nursing/1493401-capital-budget-purchase.
“Capital Budget Purchase Term Paper Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/nursing/1493401-capital-budget-purchase.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Capital budget purchase

Capital purchase justification

...? Capital Purchase Justification Sarita Gogan Grand Canyon May 01, Capital Purchase Justification Capital Purchase Justification The acquisition of capital equipment is a crucial activity in a company. In some organizations, equipment is unique and cannot be found in other organizations. In the context of a hospital, we use equipment such as CAT scan, MRI, and a nuclear medicine camera. Jersey Shore Hospital is a hospital which intends to purchase a CAT scan from vendors abroad. This was identified by the radiology department of the hospital which relays the specification to the procurement and finance department to draw budget and seek approval. The purchase of the equipment is necessary to make the hospital run (Grantham, Haupt, Isbell...
4 Pages (1000 words) Assignment

Capital Purchase Justification

...? Running Head: CAPITAL PURCHASE JUSTIFICATION Within the social and economic sector, the advancement in technology has lead to production of more efficient pieces of equipment. Like any other economic sector, technology has enjoyed substantial appreciation and application within the medical and healthcare industry. Laurence (2008) says that in the past two decades, innovations have lead to production of affordable and efficient pieces of medical equipment. Such equipments facilitate realization of efficiency and general effectiveness in delivering medical services to clients. Emerging trends suggest that most health care institutions are adopting new technological tools in service delivery. The main reason for this is that use of advanced...
3 Pages (750 words) Research Paper

Capital Budget

...Capital budget River County is highly populated. A lot of people living in the county have paid the city council to collect their garbage. To meet the expectations of the County members who have paid for garbage collection, trucks must be purchased. I have included two garbage trucks in my budget. The garbage trucks go for a total of $240,000. This amount is enough compared to the fact that the expected lifetime of the two trucks is ten years. This budget, therefore, minimizes on any other expenditure for garbage trucks in the next decade. The trucks will guarantee faster garbage collection. The trucks will also ensure that we can handle all requests for garbage collection. It will eventually lead to a conducive, clean environment in River...
3 Pages (750 words) Assignment

How Does Branding Affect Buyers Purchase Decision

The scope of the study covers all kinds of buyers with different behaviours making buying decisions with regard to different brands. There is also a detailed study of the Consumer Decision Process. There is a good enough introduction on consumer buying process besides an extended and detailed introduction on Branding and Marketing emphasizing the difference between the two and how the concepts are different from each and in what way there can be a delineation between the two. There is an explanation on the different stages of Consumer Buying Behaviour, namely Need Awareness, Information Search, Checking Options, Purchase Decision, and Post Purchase Behaviour. There is also a detailed explanation on Types of Consumer Buying Behavio...
44 Pages (11000 words) Research Paper

The Mystery of Capital

Even as he mentions this, however, De Soto (2000) disputes it, insisting that effective poverty eradication and alleviation strategies exist but their implementation, let alone success, is dependant upon the support of both donor and debtor governments, upon the cooperation of both developed/industrialized and underdeveloped/developing nations. Sachs agrees, arguing that not only is poverty possible to eliminate but that it can be eradicated within the span of two decades. Even though the arguments presented are economically sound, they are politically idealistic as evidenced in the fact that poverty is largely defined as an economic problem and not as a political-economic one.
Although numerous economists, primarily Malthusi...
6 Pages (1500 words) Assignment

Optimal Capital Structure

One of the recent concepts applied in financial management is the effective utilization of resources and choosing the optimal and most appropriate capital structure. In a resource constraint situation, the importance of financial management is especially highlighted as financial strategies are required to get the company or organization pass through several constraints that it may confront in the day to day functioning. The reasons leading to these sources constraint situations could be lack of demand, scarcity of raw materials, labor problems, liquidity control, lack of technological awareness, prejudiced policies about management and finance, etc. If the problem is not taken into consideration during the initial stage itself, th...
6 Pages (1500 words) Coursework

The Major Issues in the Debate Regarding the Existence of an Optimal Capital Structure

The level of capital has been used as a criterion for the classification of a company within its market. Regarding this issue it is noticed by Penrose (1952, 810 in Cooper, 1997, 750) that ‘positive profits can be treated as the criterion of natural selection -- the firms that make profits are selected or 'adopted' by the environment, others are rejected and disappear’On the other hand, Ruhnka (1985, 45) supported that ‘the primary source of capital for most start-up and development stage companies is equity capital raised through limited stock offerings that are exempt from expensive federal and state registration requirements’. In other words, the capital of the firm can be formulated through a series of...
13 Pages (3250 words) Term Paper

Money & Capital Markets

The subprime lending crisis rocked the U.S. economy in late 2006 and early 2007. Subprime lending refers to the loans which are provided to the borrowers having less than ideal credit histories. In other words, subprime lending is provided to persons who do not qualify for conventional credits or loans.

The subprime loans gave rise to inflated credit facilities, increased availability of infrastructure and more circulation of more currency in the economy. But this system also gave rise to unprecedented meltdown, liquidation of funds and resultant heavy losses of financial institutions due to non-payment of loans by the borrowers.

The main reasons for the crisis are more than one. They are the failure of the b...
10 Pages (2500 words) Assignment

Human Resource As Proactive Human Capital: World Bank

Since employees are the pillar of the organization, the role of human resource management becomes crucial in the employment of its workforce. In the emerging challenges of the changing business equations, when the labor deployment is undergoing quantitative and qualitative transformations, HR strategy needs to be redefined to create versatility and flexibility of the contemporary work environment.

Access to information is a vital part of organizational management processes as it not only promotes efficiency and knowledge-based discharge of duties by the employees but it a great tool for the management to exploit the available information to improve its performance. The information provides wide-ranging knowledge about t...
12 Pages (3000 words) Case Study

Project Planning Human Capital

Project planning involves a lot of factors and areas that we need to address for the effective management and handling of the project. The aim of this report is to provide a deep insight into some of the main areas that we need to address for the project of Adams's family farmhouse renovation. These issues are project team communication, project risk management, and deadline handling. Effective communication in a project provides a huge advantage regarding the better working and handling of the project. I have selected a very significant project regarding the preservation of the old and historical places. Here we require effective communication to provide better interaction among the designer, developers, and history preservation...
8 Pages (2000 words) Coursework

Capital Asset Pricing Model and Recent Developments

It is the most essential aspect of any venture. The important considerations that finance has within it, is that of profit and loss. The business as a whole or a person as an individual always strives to earn a profit. To earn a profit, one has to undertake uncertainties that are known as risks. Therefore, profit is also known as the reward for incurring risks.
In the present world of today, the capital market has come up as a viable investment opportunity for individuals all across the globe. People invest their hard money only with the expectation to earn profit or return. The stocks of various companies that are traded in the capital market are also known as capital assets. Prior to investing in any of the stock or capital...
7 Pages (1750 words) Assignment

Real Cost of Capital

Also, other academics criticize the models' failure to incorporate other determinants of risks such as firm size, book-to-market ratio, etc. then the plain correlation of the risk of the assets to the market. Despite these criticisms, many practitioners in the corporate world still use CAPM for capital budgeting. These issues are probed in this paper.
CAPM or the capital asset pricing model has been a tool in modern finance that has been extensively used for capital budgeting. The capital asset pricing model is useful in estimating the required return on an equity stock of a company (Perold 2004). Under the principle of finance that rational investors will require higher returns to compensate them when they undertake projects...
8 Pages (2000 words) Assignment

Capital Punishment as Deterrence to Homicide

Counter research argues that different research techniques give different results. Murder trials in the United States cost millions of dollars. There has been the pressure that this cost should result in a deterrent effect on potential criminals. The deterrence theory argues that criminals weight the cost and the benefits of any criminal venture.
Although deemed a controversial topic by many, the use of capital punishment, or in other words, the death sentence, is a widely used method of punishing convicts in homicidal crimes. The use of the death sentence has the notoriety of being an inhumane and barbaric form of justice. On the other hand, many believe that it is the consequence that is rightfully deserved to people who co...
9 Pages (2250 words) Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic Capital budget purchase for FREE!

Contact Us