Balance score card Essay Example | Topics and Well Written Essays - 750 words

Balance score card - Essay Example Gradually Invest on New Equipments with the Help of a Financer and the Commune. The Mayor could help out in financial matters since both have the same goal on providing the local community with the access to health care services as well as in maintaining the employment of ABC Hospital stakeholders. The Mayor has the power to grant the hospital some money to buy the needed equipments and facilities and lessen the tax collection from the organization. Establish a Strict Guidelines and Random Checking on the Quality of Products & Services that are Currently Outsourced. This will enable the hospital to acquire the best quality products and services at lower costs. It is not wise to reduce the cost by allowing the quality of food being served to the patients to suffer. Encourage Expansion and Investment on Equipments for the Rehabilitation Ward. Allowing further development and investments on specific wards that has a big market potential could minimize opportunity loss. Transferring some beds from the less active wards into a bigger rehabilitation ward will encourage maximizing the use of existing equipments. Reallocation of available resources is important because of the limited funds. Maximize Economies of Scale on Existing Wards. This strategy will help keep down the operational costs. By carefully analyzing and studying the demand for each ward in the hospital, the management could easily decide on whether to expand or cut down the size of each ward. In line with restructuring the size of wards, the number of nurses and doctors should be assigned according to the demand in each ward. Re-establish the Customers’ Confidence on the ABC Hospital. With the use of the media and church, it would be easier for the organization to re-establish the name and reputation of the hospital as the best in delivering quality services to the community. Using the media and advertisements to announce the

Answer questions on the economy with the explanation and examples Essay

Answer questions on the economy with the explanation and examples - Essay Example With increasing income, the demand for a luxury goods increases sharply as compared to necessity goods. In this case, there is a larger proportionate change in the quantity demanded when a change in price of the good occurs. When the price of the good rises, the demand will fall proportionately more; hence, the total revenue will fall. But when the price of the good falls, the demand will rise proportionately more; hence, the total revenue will rise as well. In this case, there is a smaller proportionate change in the quantity demanded when a change in price of the good occurs. When the price of the good rises, the demand will fall proportionately less; hence, the total revenue will rise due to the higher price. But when the price of the good falls, the demand will rise proportionately less; hence, the total revenue will fall as well. It refers to the maximum price that has set by the government or an agency. The concerns cannot rise above this maximum rate but can fall below it. For Example: Maximum price of the oil fixed by the government in Third world countries. It refers to the minimum price that has been set by the government or an agency. The concerns cannot fall below this minimum rate but can rise about it. For Example: Minimum wage rates fixed by the government. An economic law that states that, as the quantity of a variable factor is increased, the marginal product of these additional units will, at a particular point, start to diminish and be less than the marginal product of the former unit. In the short run of the firm’s production, a few of the input factors are considered to be fixed in nature. Whereas in the long run of the firm’s production, there are no fixed factors as the company can vary the quantity being used over the period of time. The profits are maximized when MR=MC: at an output level of Q as shown in Figure 3. If the output is less than Q, the MR exceeds MC. This