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DB #5: Role, Impact, and Value of Budgeting
Budget is one of the most important documents of a healthcare organization and is the central document of the planning/control cycle. It identifies the revenues and resources that will be needed for the organization to achieve its goals and objectives and allows the organization to monitor the actual revenues generated and its use of resources against that which was planned.To prepare for this Discussion:
Identify one example of an event that has changed the operations of your organization or an organization with which you are familiar with. If you are not currently working in a healthcare organization (HCO), you may choose a case study from a reliable source from which to work.
Review this week’s Reading and Learning Resources.
Post a cohesive response to the following:
Why are planning and budgeting functions are important to an organization’s strategic, financial, and operational success?
Respond and continue the Discussion through Day 7:
Expand on this Discussion by highlighting differences between your posting and your colleagues’ postings. Provide additional insights or alternative perspectives.
The initial post must require a minimum of four (4) current quality references, two (2) of them from peer-reviewed articles from the UC online library. Including references in your replies to classmates is optional but recommended.
Your initial answer must be 250-300 words, not counting the list of references.
You must post at least two (2) participation replies to other classmates’ posts, and they need to be at least 100 words per post.
Focus on presenting in your posts critical thinking ideas and synthesis and less on stating and describing.