Health Care Financial Terms Week One Essay

Controlling is the practice that managers use to ensure that the company plans and goals are being attained. By comparing report to each other areas that are working and succeeding are defined and the areas where problems are occurring can be addressed and corrected (Baker & Baker, 2011). A manager has four different, lets say teams† that report to this manager. Controlling would be when team A, B, C, and D submit the teams’ financial report to the manager. The manager would review all four teams to ensure the teams are meeting the financial goals. So, in this scenario Team A, B, and C is on target and meeting the goals. However, Team D has not met the goals. The manager needs to review the team D’s progress determine where the problem is, such as cutting cost, the resource allocation, operating procedure, or other issues. Without controlling the teams and reviewing progress, other area will suffer. Decision making Decision making is management making informed decisions based on all information that accomplishes the company’s goals (Baker & Baker, 2011). The company is making a decision on purchasing electronic medical records. The financial reports will inform management of the financial status on the company and the amount of money they can budget for the purchase of this the EMR. Organizing Organizing is a term for companies to decide how to use resources for the best outcome for the company (Baker & Baker, 2011). A manager is given a certain amount of revenue and the manager decides where the money is allocated for the department to accomplish the goals set by the company. Planning To succeed, companies need corporate goals. Planning is identifying the goals and resources. Laying out the steps by using the resources to accomplish those goals (Baker & Baker, 2011). A manager has a specific project to install and to perform the primary function of the project. The manager works out a step by step plan from the beginning to the end of implementing the project until the project is complete and accomplishes the goal. Original records When a transaction is recorded into a journal or ledger this becomes the original records (Baker & Baker, 2011). A patient makes a payment of $100. This payment is entered into the patient’s file and payment history. This entry is an original record in the company’s income ledger. Reference: Baker, J. J., & Baker, R. W. (2011). Health Care Finance Basic Tools for Nonfinancial Managers (3rd ed.). Sudbury, MA: Jones and Bartlett Publishers, LLC.

Power of organizations Essay

Lee Iacocca was born Lido A. Iacocca, on October 25, 1924 to Nicola and Antoinette, who were both Italian immigrants. His parents were hardworking people and his father Nicola believed that America was a land of opportunities. As long as people were willing to work hard, it America, it was possible to achieve anything. Lee followed his father’s work ethic and when he just a boy of ten years, he would take his wagon to the grocery store and wait outside. He volunteered to take the groceries of the shoppers to their respective houses for a tip. When he turned 16, he worked 16 hours a day in a fruit market. Lee confesses that the depression of the 1930s resulted in a transformation to his personality and he became a materialist. He graduated from college with the goal of earning $10,000 a year till he was 25 and then, he planned to work towards becoming a millionaire (Iacocca, 1984). The depression also made Lee a less intolerant person towards waste in any form: food, clothing or business and a conservative person in his investments. He always knew that disaster can strike any time. During his school days, Lee also faced racial discrimination due to the fact that he was Italian. Moreover, he was pained by the fact that his two Jewish friends were treated worse than he was. When Lee was in Chrysler, he named Gerald Greenwald as the Vice President of Chrysler. He would be the first Jew to enter the top ranks of any of the top three automakers (Iacocca, 1984). After his graduation at Lehigh, he got a job with Ford. But he could not pursue that job at that point in time, because he won the Wallace Memorial Fellowship at Princeton. He Graduated from Princeton and started working for Ford in 1946. Lee married Mary McCleary in 1956 (Iacocca, 1984). Lee considered his family life very important and reserved weekends to spend time with family. Lee’s success in business was not only due to his hard work and education, but also due to his ability to adapt to any situation (Swinfin, 2006). He was also a decisive man and had the ability to take innovative decisions. In 1956, when his district was the last in sales, he introduced a new program called â€Å"56 for 56†. This program made it possible to purchase a new 1956 Ford for 20 % down and $56. 00 a month for 3 years. The program was a huge success and more than 75,000,000 cars were sold and his district secured the first place in sales. Lee also undertook the challenge of the Fairlane Committee, which was responsible for producing a new type of car. Lee analyzed the research data on demographics and buying capacity of Americans and concluded that the car must be small, but needed to hold 4 passengers. There would be a 2500 LB limit, and the cost could not exceed $2,500. 00 with equipment. The end product was the 1964 Mustang (Iacocca, 1984). Iacocca Lee was a good leader who used good marketing research data, surrounded himself with good people, and was open to new ideas. Lee became President of Ford on December 10, 1970. He initiated a program called â€Å"Shuck the Losers†. This program gave managers 3 years to make their departments profitable or sell them off (Iacocca, 1984). This shows that Lee was also highly competitive in approach and stern when he had to be. Though there were many successful projects while he was at Ford, by the end of 1975, Lee started having personal conflicts with Henry Ford II. Lee was fired in July of 1978 and thereafter he joined Chrysler on November 2, 1978. Lee found that Chrysler had a problem in its communication style and team work. He reduced his salary to $1 per year and bargained with the union for cuts in salary and benefits. First, Iacocca announced plant closures, job layoffs, and his plans for the company. His next move was cutting several large models, which were heavily unprofitable, and put the subcompact Dodge Omni and Plymouth Horizon into production. The Omni and Horizon became instant hits, selling over 300,000 units each their debut year (Iacocca, 1988). By 1983 Lee turned around the fortunes of Chrysler and repaid all government loans. Lee made a public statement, â€Å"We at Chrysler borrow money the old fashioned way. We pay it back. † At Chrysler, Iacocca not only overcame a $3. 3 billion deficit but capped it with another $3. 3 billion profit between 1982 and 1984. That represents a net gain of $6. 6 billion, or an average increase in earnings of $6 million per day over the previous period (Harmon and Jacobs, 2006). The administrative style of Lee Iacocca is based on tapping the hidden power of organizations. He peeled â€Å"the encrusting layers of dead habits, vested interests, outmoded strategies and inertia and removed the lid on an enormous reservoir of productive energies. He did it by firing 33 of the company’s 35 vice-presidents and allowing long-suppressed ideas, energies, and talents to rise to the surface† (Harmon and Jacobs, 2006). Thus Lee was responsible for discovering the potential of organizational power. This discovery not only brought into use hidden potentials but also created new possibilities. The administrative style of Lee Iacocca enabled organizational power to maximize the productive and efficient utilization of ideas, resources, energies, and opportunities. He combined the organization power with his personal talents at communication, decision-making, motivating, time management, flexible approach in leading, and innovation to achieve great success as a leader. Lee Iococca, after his successful career at The Ford Motor Company and Chrysler, said, â€Å"I seized the opportunity, but I was no ninety-day wonder. It took me almost forty years of hard work. † This then, was the main reason behind his success.

Misinterpretation of Correlation Essays

Misinterpretation of Correlation Essays Misinterpretation of Correlation Paper Misinterpretation of Correlation Paper Correlation in statistics is the measure of the association between two variables. The number computed in correlation is known as the correlation coefficient. The correlation coefficient’s value ranges from -1 up to +1. The -1 value means that there is a perfect negative association between two variables. The +1 value means that there is a perfect positive association between two variables. A coefficient of zero means that there is no association between two variables (Agresti Franklin, 2007). The next paragraph will analyze the scenario regarding John’s computation of correlation coefficient and Tom’s interpretation of the correlation coefficient. One often misinterprets the use of correlation in statistics. In the scenario, Tom made a misinterpretation of the correlation coefficient. Correlation measures the level of association between two variables. Association does not demonstrate causal relationship between two variables. The correlation coefficient stated in the scenario is 0.85. This means that there is high association between the medication and the stomach upset. This high association can be a ground for testing the causation between the medication and stomach upset. In order to test for causation, two variables must be associated to each other. The 0.85 correlation coefficient is not enough to say that the medication is the cause of Tom’s stomach upset. Thus, Tom’s statement is incorrect. If would be more correct if Tom states that there is an association between the medication and his stomach upset. Misinterpretation of data is one of the usual problem people encounters. Data can be seen everywhere, from newspapers up to the television sets. Statistics is a powerful tool used in interpreting data. Without proper knowledge in statistics, many data misinterpretation may rise. These give a hint about how important statistics is in one’s everyday life. References Agresti, A. Franklin, C. (2007). Statistics : The art and science of learning from data. Upper Saddle River, N.J. Pearson Prentice Hall.

The Redesigned SAT Math Test

The Redesigned SAT Math Test    In March of 2016, the College Board administered the first Redesigned SAT test to students who want to apply to college. This new Redesigned SAT test is very different from the SAT of years gone by and one of the major changes is the SAT Math Test. Different test types, content, and test format abound.   Confused about whats in store when you take the test and how the Redesigned SAT relates to the old SAT? Check out the Old SAT vs. Redesigned SAT chart for an easy explanation of each tests format, scoring and content, then read Redesigned SAT 101  for  all  the facts.   Aim of the Redesigned SAT Math Test According to the College Board, their wish for this math test is for it to demonstrate that students have fluency with, understanding of, and the ability to apply the mathematical concepts, skills, and practices that are most strongly prerequisite and central to their ability to progress through a range of college courses, career training, and career opportunities. Format of the Redesigned SAT Math Test 2 sections: Calculator Section and No Calculator Section80 minutes57 questions3 types of questions (multiple choice, grid-in, and extended thinking grid-in)4 content areas 4 Content Areas of the Redesigned SAT Math Test The new Math test focuses on four different areas of knowledge as described below. The content is divided between the two test sections, Calculator and No Calculator. Any of these topics can appear as a multiple choice question, a student-produced response grid-in, or an extended-thinking grid-in. So, on both test sections, you can expect to see questions related to the following areas: 1.  Heart of Algebra Analyzing and fluently solving equations and systems of equationsCreating expressions, equations, and inequalities to represent relationships between quantities and to solve problemsRearranging and interpreting formulas 2.  Problem Solving and Data Analysis Creating and analyzing relationships using ratios, proportions, percentages, and unitsDescribing relationships shown graphicallySummarizing qualitative and quantitative data 3.  Passport to Advanced Math Rewriting expressions using their structureCreating, analyzing, and fluently solving quadratic and higher-order equationsManipulating polynomials purposefully to solve problems 4.  Additional Topics in Math Making area and volume calculations in contextInvestigating lines, angles, triangles, and circles using theoremsWorking with trigonometric functions The Calculator Section: 37 questions | 55 minutes | 40 points Question Types 30 multiple choice questions6 student-produced grid-in questions1 extended-thinking grid-in question Content Tested 13 Heart of Algebra questions14 Problem and Data Analysis questions7 Passport to Advanced Math questions3 Additional Topics in Math questions The No Calculator Section: 20 questions | 25 minutes | 20 points Question Types 15 multiple choice questions2 student-produced grid-in questions Content Tested 8 Heart of Algebra questions9 Passport to Advanced Math questions3 Additional Topics in Math questions Preparing for the Redesigned SAT Math Test The College Board is working with the Khan Academy to offer free test prep for any student interested in practicing for the Redesigned SAT. In addition, other companies have great, reputable practice tests and questions to help get you ready.

Interview in Cyberlaw Assignment Example | Topics and Well Written Essays - 500 words

Interview in Cyberlaw - Assignment Example Adult 2: Am not happy with such sites since they do give some private information about a person which can sometimes create scandals in their lives. Also, one cannot control the information such sites are giving unless by use of law and this may cost one a lot of money and time. Adult 1: Yes the Federal Government should implement laws dealing on the way companies use ones personal information. For example, it should limit the company’s rights on posting their employee’s credit card information, family members’ information as well as social security number. Adult 2: The federal government should implement such laws as by doing so companies will have to consult their employees before posting some personal information. For instance, the government should include that a company should not to post any personal information regarding an employee’s financial status. Adult 2: I think the company should be the one held responsible. Let’s say the information given about any person contradicts the law, the organisation posting the information is the one that should be held responsible and not the individual. This should serve as a way of restricting the information that companies post concerning their employees. I would advice employees to be very careful when giving their personal information to the employer as they can find the information at any time in the

How I Saved a Life Essay Example | Topics and Well Written Essays - 750 words

How I Saved a Life - Essay Example The American countryside experience was quite interesting and calm. Unlike the city which was flocked with people, Colorado had sparse population. There were a lot of old houses that we encountered as we drove off the highway and into a paved spur and finally to a washboard that led us to Ed’s home. The fresh smell of countryside welcomed us home as cows mooed and horses neighed. Our vacation had just begun. Hardly had we finished taking tea that we were out as Ed was dying to show me around. Joining us was one of Ed’s friends who schooled in the countryside and had come to welcome Ed home. The young girl was lovely and we got along quite easily.As we were strolling round the fields, I could not help but appreciate the beautiful scenery of the old structures together with the green environment. While everything seemed fine, the unexpected happened. I had a quick yell which fast disappeared into the ground. On turning back, I could not see the young girl. By that time, E d was running towards the source of the scream. I quickly followed him and true to our fears, Ed’s friend was trapped in a pit. The pit was dark and had stems and roots of various plants running deep inside. We could only hear echoes of the girl’s cries from the top of the pit. Confused and scared, we stared at each other not knowing what to do with darkness quickly setting in.Ed was particularly scared because of what I came to realize later was fear of losing the friend having lost a cousin in the pit some years back through a similar experience

Glazing and Wall Ratio Studies for High Rise Building Envelope to Essay

Glazing and Wall Ratio Studies for High Rise Building Envelope to Achieve Energy Saving in Hong Kong - Essay Example When a curtain wall is made of glass, for example the International Finance Center (IFC) in Hong Kong, a great benefit is that light from the sun can penetrate more easily and deeper into the inner rooms. The curtain wall structure is normally spared of any dead load burden from the construction other than the weight of the materials used in its construction (Hart, 2008). The wall transmits lateral wind loads to the building’s pillars through linkages to floors or columns. Curtain walls are designed to prevent air and water penetration. Additionally, the structures also reduce the load caused by air currents and seismic forces playing out on the external surfaces, and its own sway triggered by the dead load weight. The paper explores how glazing to wall ratio affects energy saving in a curtain wall house. 2.0 Background to the project Curtain walling is essentially build with protruding aluminium metals, although in the past steel was used in the making of the structure. Apart from glass, stone veneer, louvers, vents, and metal panels can also be used as in-fills. Copper cladding can be used by architects to achieve visually attractive features into structural design. The project will revolve around the impact of glazed curtain walls on energy saving. 3.0 Aims and broad objectives The study will explore the level at which the metal can a material in terms of conducting heat. A study will be conducted to establish the significance of aluminium metal in heat loss through the curtain wall mullions made of the metal, especially in hot temperature. On the other hand, when it is cold, numerous ways aimed at checking the amount of heat loss will be explored; in IFC for example, apart from the curtain wall shading, the role of thermal breaks to the window will be explored. Due to the fact that thermal breaks are materials made of polyvinyl chloride (PVC), the study will explore the significance of the material and how it is used on the curtain wall to provide a substantial reduction in the heat conductivity of the wall structure. 4.0 Methods to be adopted Owing to the significance of the ‘U’ value in energy efficiency, the coefficient will be studied in shaded curtain walls. U value stands for the effectiveness of a curtain wall window structure to prevent heat transfer. In an effort to ascertain the solar factor in the heating and cooling of the IFC building, heat transfers across solid, liquid and gas will be examined. 5.0 Deliverables According to Glassman (2009), the glazed curtain wall models essentially show smaller U value coefficients as compared to concrete wall. Additionally a mechanically fixed system has a slightly higher U value compared to a hybrid system, if an identical IG spacer was employed. The repercussions of the wearing out of the mechanically fixed system gasket are more pronounced. Owing to the significance of wet sealing, most curtain walls constructed through this method achieve better U-values as opp osed to dry sealing method (Donaldson, 1988). Nonetheless, structurally glazed systems which are dry sealed, usually display high efficiency if IG spacer bars are used. Warm edge spaces made of desiccated silicone foam have been rated highest in terms of energy performance