Problem framework - CEO Way of Mind

Overview

Effective leaders understand that actions must be based on facts. Which facts are most important, however, is dependent on how the problem is framed. Failure to adequately define the problem can set in motion a whole series of misguided undertakings in which irrelevant data is gathered, unnecessary analyses are completed, and inappropriate decisions are made. This assignment will help you craft a clear statement of the problem, and then determine what data is most critical in solving that problem.

Instructions For this assignment you will create a business brief of 3 pages. The brief will be based on the case, StepSmart Fitness. This requires you to identify a problem from this case that can be addressed through an analytics approach, and then to provide sufficient background on the organization to accurately frame the problem for stakeholders. For guidance, please refer to Chapter 2 of Davenport & Kim, Keeping up with the Quants. Your brief must include the following six components:

1. Define a clear problem or opportunity that addresses what is important to the organization.

2. Define key items or variables you want to study that are relevant to the problem.

3. Identify stakeholders for the problem, including the stakeholder who will make a specific decision based on analysis results once the problem is solved.

4. Briefly explain two alternative ways the problem could be addressed beyond what is presented in the case

5. Adopt an analytical story type to communicate the particular problem (see pp. 29-40, Davenport & Kim).

6. Describe relevant information on previous experiences or findings related to this problem. This information may be included in the main body of the brief or noted in an appendix, whichever is most appropriate for context and flow.

Formatting Requirements:

• Include a Cover page containing the title of the assignment, your name, professor’s name, and the course title and date

• Include a References page with your sources

• The Cover page and the References page are not included in the required page length

• Double-spaced, professional font (Times New Roman or Arial), 10-12 font size

• Headings are used to identify main topics and subtopics

• Paragraphs are separated by a single space

PLAGIARISM FREE AND GRADE A (HONORS WORK)!!!!!!!!!

Please make sure that you read directions thoroughly and are detailed.

See my recent post attached to define what we will be discussing…. IF YOU HAVE QUESTIONS, PLEASE REACH OUT TO ME!

Mr. Chairman and Board Members,

Gathering Your Data

As we discussed in out last meeting, our vision is to ensure that all of our customers become their best by offering trustworthy financial advice and solutions that will make their daily lives better.

With this new vision our forward thinking must be innovative with a holistic approach.  We will begin a partnership with Wake Baptist Health to utilize a financial approach to healthcare. 

Plan Reiteration

· Wells Fargo Financial Services, L.P., advisors will develop a financial picture of your potential health care costs. This will help you tailor your financial planning strategy to include the impact your health could have on your future finances.

· How the Health Care Financial Advising Process Works:

Step 1: Schedule a physical exam, Health Risk Assessment and biometric screening at the WellQ clinic.

Step 2: Come to the clinic and complete all three.

Step 3: With your approval, WellQ will provide your results to your CFS* Financial Advisor with Wells Fargo Investment Group. The advisor will use a proprietary program to predict the future costs that you can anticipate based on your Health Risk Assessment results.

Step 4: Your advisor will use the predicted future cost to help you understand the impact your risk factors have on your financial plan through a no cost/no obligation consultation. You can then use this information to best control the future of your finances and health.

· By completing this process, you are working to create a plan to strengthen both your health and your wealth!

  Data Sources

In today’s age people are more self-aware and conscientious of what they put into their bodies.  Healthy living is a topic that has become increasingly important to the US Population over the past 10 years.    

Here you can see the correlations with the concept of a healthy lifestyle differ by gender. 

Psychological data is strong relevant source in the research and presentation of this new venture.  The Journal of Psychological Science reports:

“Existing retirement-contribution patterns and future health improvements are highly correlated. Employees who save for their future by contributing to a 401(k) show improvements in their abnormal blood test results and health behaviors approximately 27% more often than non-contributors.”

Road Blocks

I am currently unable to pull data from current Harvard study on AllHealth Wellness Savings account.  The program was a test developed to study how people respond to the linkage of health and finances.  The savings account is linked to you gym membership.  The more times you visit the gym in a statement cycle period the higher the interest rate you will receive on your savings account.  Although we have the all health savings accounts.  Additional market research needs to be conducted in Baptist medical on effects of medical cost and patient wellness.

Impacts

Gaps in available research will affect progression of plan by not having the ability to properly forecast profitability and strategic planning.  Cost of establishing a new branch model to intertwine clinical area and financial services department will seem uncertain.  Although this is the first of its kind, effective research is detrimental to the success of this next level banking.

Analytical Assessments

We will need to use hypothesis testing with a holistic rubric attached to assist in analyzing our data.  This combination health and the financial component are in untested waters. 

Reference

Well Q. Healthcare Financial Advising. Retrieved January 16, 2019 from, https://yourwellq.com/financial-wellness/financial-services-overview#Advising

Cube You. Do Millennials Strive for a Healthy Lifestyle? Yes, but Only the Older Segment 25-34. Retrieved January 16, 2019 from, https://yourwellq.com/financial-wellness/financial-services-overview#Advising