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Managing Risks for the Center for Diabetes Care:

Olufunmilayo Adeleke

FM010

Walden University

12/17/18

Managing Risks for the Center for Diabetes Care

Uncertainty and risk are integral parts and parcels of any program; which is why numerous programs encounter problems that delay the project to in realize realizing its projected goals, and at worse failing to do so. However, various methodologies can be applied to manage and mitigate potential risks associated with the program. Kambil (2018) emphasizes that the most significant concern is to have an appropriate risk management process integrated into the project-cycle, with the intention of identifying the program’s risks in an appropriate, thorough, and timely manner. Spedding and Rose (2008) urge that this has the implication that the management unit will have a high ability to identify and addressing any risk and uncertainty that will crop-up, and besides being prepared to addressing these eventualities appropriately. This report, therefore, details the potential risks associated with the Centre for Diabetes Care, and how to manage besides and mitigateing themthese risks.

Associated Risks and Mitigation Measures:

Market Risk and Mitigation Measures:

Market risk denotes to the overall economy besides securities markets risk that the Center for Diabetes Care investment can face due to fluctuations in the target market; which implies that the investment’s value will decrease (Reuvid, 2008). Although there are numerous standard market risk factors, those that the Center for Diabetes Care can encounter include the commodity risk which is the likelihood in commodity price fluctuation. Besides, inflation risk which concerns the increase in goods and services, which can undermine money monetary value, besides almost certainly adversely impacting the value of investments. The other is that the likelihood that, the targeted market not responding to the Center for Care interventions as projected. Comment by Dr. Steve: This sentence is not clear Comment by Dr. Steve: The risk you describe is not realistic for this initiative; you describe a reis for a large company or multi-nation international organization – the Center is a small community clinic in a specific area – the description you provide of a risk to the Center is not realistic or scaled appropriately

Given the large need for diabetes care amongst the aging Hispanic Lowertown community, the Center’s expertise, marketing support, and resources, besides and the US dollar stability, these market risks are minimal. But, to be on the safer side, they ought to be mitigated through integrating strong marketing involvement for the first few years to minimize even more the market risk. Likewise, the overall budget should include a contingency fee that will cover any fluctuations in the input prices. Risk mitigation strategies can be put in place to control the effects from spreading further. Therefore, several risk mitigation measures can be implemented to curb the problem. First, one can characterize the leading cause of the identified risks in earlier research. Secondly, they can evaluate some of the common causes of these risks and then seek alternatives for assessing and mitigation. Thirdly, one should come up with the correct methods, tools, and strategies for every significant risk. One can then present the results to the relevant people for implementation. Comment by Dr. Steve: This is not a realistic strategy given the finances of this initiative Comment by Dr. Steve: These are not specific enough

Competitive Risk and Mitigation Measures:

Competitive risk associated with the Center for Diabetes Care concerns the entry of competitors into the target market hence fostering the potential for losses as a result of competitive pressures; . which This risk implies to the likelihood of the Center having reduced revenue and declining margins due to the price, promotion, and product of the competitors (Spedding & Rose, 2008). The significant competitive risk will be if a potential competitor builds a satellite center in Lowertown. Comment by Dr. Steve: Very good – this is a reasonable risk to consider

Although, the Center for Diabetes Care has an advantage of being set predominantly in a rural setting; that draws the patients from many of the surrounding Hispanic community for a variety of diabetes prevention and management services and thus not expecting much competition in this area. Spedding and Rose (2008) urge that to mitigate this risk further, the Center for Diabetes Care needs to incorporate an ongoing competitive analysis, as well as making appropriate decisions concerning the effective competitive strategy to institute in the program. Regardless of the stability of the Centre for Diabetes Care, the disruption may come along at any time and especially when least expected. Without proper management strategies, TCDC may fail its clients. Therefore, it needs to identify the possible competition and work towards it in the best way possible to emerge more effective. TCDC can avoid competition by introducing more advanced healthcare to patients with diabetes and include special treatment procedures to remain competent and capable., above its counterparts. The bodyTCDC can also identify treatment procedures lacking in their competitors and implement them so, that it offers a unique treatment experience, therefore, overcoming its competitors. Through In these ways, TCDC can overcome competition and remain competitive. Comment by Dr. Steve: Run on sentence

Furthermore, the Center should continue building its brand so as to win the targeted patients, their primary caregivers, families, and the community long-term loyalty; . which This means that the Center services should be culturally appropriate, patient and family-centered, timely, cost-effective, and high quality, with the ultimate aim of community health enhancement. There are no risks related to the adequate workforce since the Centre will have enough personnel to execute all its functions effectively and efficiently. With a sufficient workforce, the Centre will reach out to more patients and families which mean that it will achieve its target easier. Therefore, an adequate workforce will help the Centre accomplish its mandate and minimize any risks. Comment by Dr. Steve: This actually is a risk given the skilled labor market in this area, and the special language skills required – this could become the risk to replace your first risk

Execution Risk and Mitigation Measures:

The execution risk concerns the inability of the Center for Diabetes Care operations realizing the set goals and objectives in a timely basis, including inefficiencies in managing the rollout and the program growth (Spedding & Rose, 2008). These without a doubt, makes execution a top internal risk that can significantly impact negatively on the program towards realizing its set goals and objectives in an appropriate and timely manner (Reuvid, 2008). The execution risk can be reduced and mitigated through understanding, identifying, and appropriately addressing the risk factors towards the successful execution of the program activities. Comment by Dr. Steve: Good

Therefore, the human resource, the program director, and the nurse practitioner ought to support the execution of the Center beside providing a clear advantage in minimizing the execution risk significantly (Kambil, 2018). For instance, the nurse practitioner should conduct regular strategic meetings with the community health workers towards discussing and identifying any problems, needs, and challenges experienced in the field. These should then be a basis of addressing execution risks appropriately in subsequent activities. Comment by Dr. Steve: This sentence is not clear Comment by Dr. Steve: ?? Comment by Dr. Steve: OK

Following Kambil (2018) the Centre’s management should be able to deal appropriately with the drivers of execution risks, which include first, staff alignment and commitment such as governance, ambiguity and uncertainty issues. Secondly, critical resources available to staff such as workloads, budgets, talent, besides data and systems. Third, staff emotional and social resistance such as habit, fear, social dissatisfaction, diminished autonomy and power, and organizational diversity and multiculturalism. Hence, tThe program director should improve success by ensuring enough resources availability, aligning governance to staff execution, and supporting the staff in fostering a productive workplace and teamwork setting. Comment by Dr. Steve: Following is not the correct word – According to – would be a better way to begin this sentence Comment by Dr. Steve: This sentence is not clear Comment by Dr. Steve: Incomplete sentence Comment by Dr. Steve: Incomplete sentence Comment by Dr. Steve: Funmi, your response identifies fewer than three business risks that could prevent the healthcare organization in the case presented from meeting its financial goals within three years This inititial risk you pose is not realistic for this case study. Comment by Dr. Steve: Because your first risk is not realistic, you are also one strategy short of what is required (3 risks/3 strategies) – you have presented two viable strategies.

Recommendations

Several steps can be followed to curb this menace. The first step one should take is to know and understand if the patient suffers from either Type I or Type II Diabetes. Once this problem is identified, it becomes a little easier to figure out what diet the patient needs to be placed; what they need to eat and what they should avoid and or when they need to eat to help monitor their sugar levels. They should also seek a caregiver to monitor on their daily progress. The second step involves measuring one's blood sugar level, cholesterol, and blood pressure. Keeping blood sugar level at the right levels maintains good kidney health. The third step one should consider is learning how to cope with diabetes. One should control their emotions such and happiness, anger, eating well and regular physical exercises. Also, eating fruits can help to regulate the diabetes level. The fourth step has a routine checkup for weight and blood sugar level as well as a cholesterol test. For healthy bodies, the weight should match the body mass index of the individual. Comment by Dr. Steve: Incorrect word choice Comment by Dr. Steve: This addresses clinical aspects of diabetes treatment which has nothing to do with the subject of this paper

Managing risks for the Center for Diabetes entails identifying, assessing, and addressing risks that can significantly hamper the program operations. To address appropriately risks associated with the Center, the program director ought to develop a risk management plan that details the appropriate strategies for dealing with specific risks. Hence, it is imperative that time and resources be allocated to this development, with the intention of reducing the likelihood of any incident affecting the Center for Diabetes Care operations. Comment by Dr. Steve: Ths is OK – Rather than recommendations, call this section Summary or Conclusion

References

Kambil, A. (2018). Execution risk: Stepping over 12 common hurdles. Deloitte Insights. HYPERLINK "https://www2.deloitte.com/us/en/pages/finance/articles/cfo-insights-execution-risk-wheel-of-woe.html" https://www2.deloitte.com/us/en/pages/finance/articles/cfo-insights-execution-risk-wheel-of-woe.htmlhttps://www2.deloitte.com/us/en/pages/finance/articles/cfo-insights-execution-risk-wheel-of-woe.html

Reuvid J. (ed.) (2008). Managing business risk (5th ed). London: Kogan Page

Spedding, L., & Rose, S. (2008). Business risk management handbook: A sustainable approach. Oxford: CIMA Elsevier