Discussion: Profit, Non-Profit, Government, etc... (ONLY Writing Eden)

Week #5 Discussion

 This week we continue the journey to strategic implementation. In the last three weeks we have worked on defining Enterprise Management. You have looked at various models for giving framework to the discussion and practiced using several to note multiple ways to achieve a strategic end.

This week we start a deeper dive into the framework you have started by putting some “meat on the bones” of the skeletal framework you have begun. The article from the Wall Street Journal, which I have seen quoted many times on LinkedIn and elsewhere, has become part of the current belief system that enough data when applied correctly will provide a competitive edge and success. Is that a valid assertion? How much data is enough? Is it applicable in all circumstances? Why?

The assignment is another discussion. As with the first discussion, the earlier you post, the deeper you discuss, the greater your use of appropriate references, and the broader you application with examples, the better your learning and opportunity for recognition (read grade).

We are looking at three different aspects of Functional Management Strategies that each independently as well as in complement support an overall strategy for a company/division/unit whether in the private sector, the non-profit sector, or the government sector (here I include all governmental entities including the armed services). You discussion should include at least references to the three different entities (for profit, non-profit, and governmental) with a deep dive and examples for at least one of the entities that you are most familiar with. You are to discuss how each of the three functional management strategies supports the overall strategy of the three different business types (so really a matrix of nine or twelve depending on if you break out government and military with each of the three management strategies) with support for your assertions.’

Then, once you have laid out your research, analysis, and experience, discuss other classmate’s views and experience. No one person will have all the answers.

As an example, enterprise structure in my medical practice is very flat. I am the owner, I have a front office staff and a back office staff, and both staffs are cross trained to work mainly in their respective locations but can “fill in” as needed in the other location. I am ultimately responsible for finance but my billing manager, office manager, and accounts payable manager all play a vital role in making sure the correct codes are used, the data is transmitted, we meet all applicable laws, we receive the full amount owed by contract, and use all appropriate means to collect the debts owed. It helps that one is my wife, the second is our best friend, and the third is my daughter, but, the enterprise structure would work regardless of familial ties.

Finance issues derive directly from our business model. I see patients who either have an insurance I participate with for a scheduled fee or they pay cash for the services in full. A pretty simple model. I then leverage this simple model within the banking system to borrow money to meet strategic needs (Electronic Medical Record (EMR), Phone System, Internet access, etc) to have a competitive advantage in the medical care provision marketplace. Since I am on a cash basis, I am trading cash flow risk with my bank for a strategic need at a specified interest rate.

Project management issues occur daily in many ways. At the strategic level, my EMR is both a business necessity and strategic advantage. 3 years ago I used a paper system that had been in place 21 years. In 8 months we switched from paper to electronic, requiring a project of (for my office) mammoth proportion. The iron triad of time, scope, and money all came into play (I only had 6 months to implement to meet certain government deadlines, I only had so much borrowing capability, and I had to have a system that would meet my immediate needs, would grow with the practice, and meet the requirements of the government at the time. We met all the requirements within the required time frame and on budget, but, it has been a cultural challenge (human resources issue again) as a two decade system was upended and people, who were set in their ways, had to adapt. It was not easy and is just now, after nearly 2 years of implementation, returning to the level of efficiency and profitability that existed prior to implementation.

This is just one example I have personally. I have used similar activities in Scouting (Non-profit management) as we have reorganized the business structure for the entire State of Michigan and the Military as I have had the opportunity to lead and guide several different squadrons and now a group (think of business units and divisions).

Use your readings. Use your previous class experiences. Use your personal experience. And then discuss amongst yourselves. This is where the real learning begins.