Established in 1977, Krona Community Hospital is an acute care hospital located in the heart of Banconota County. With a staff of nearly 100 physicians and specialists, 400 employees and 75...

Introduction
In the present report we will discuss about the future prospects of Nouveau Health.
Nouveau Health is a non-for-profit health care facility which took over the management of
Krona Community hospital in March 2006. In May 2007 Nouveau proposed to expand the
existing facility, the new facility will have 74 acute care beds, four observation rooms, four
surgical operating rooms, one C-section room, 24-hour emergency department, maternity center,
intensive care unit and extensive support services, physical therapy and cardiac rehabilitation and
all rooms will be private.
Planning
Before expanding the facility management needs to plan everything, planning is the first
step in this process. Plans are very important for the success of an organization. They commit the
individuals, departments, organizations, and the various resources of each to the specific actions
elating to future. Effectively formed goals of the organization fit in the hierarchy so that the
achievement of goals at lower levels allows the fulfillment of high-level goals. The different
types of plans are:
1. Operational Plans: An operational plan can be defined as a plan that the
manager uses to fulfill his or her job duties and responsibilities. All the team leaders, supervisors,
and facilitators formulate operational plans to support the tactical plans.
2. Tactical Plans: A tactical plan is majorly associated with what the lower level
units within each department must follow, how they must follow, and who is in charge of their
activities at each level and stage. Tactics are used to generate a strategy and make it work. Such
plans are usually of short time periods and na
ow scopes.
3. Strategic Plans: A strategic plan basically defines the outline of the steps that are
designed with the goals of the entire company as a whole, rather than with the goals of specific
departments. Strategic Planning usually begins with the mission of the organization. These plans
are generally for longer periods of time and strategize about where the organization wants to be
in that time period.
4. Contingency Plans: A successful and capable management usually depends on
how they adapt to changing conditions, how flexible they are with their plans and policies. A
strong management requires keeping all its alternative options open so that the company can
cater to any situation. Such plans are defined as contingency plans.
Forecasting
Once all the plans are made there is requirement of forecasting different things. Most of
the companies do not realize the strategic importance of forecasting. Availability of right
esources at the right time has become the essence for efficient functioning of management. In
the present business environment where every organization is attempting to save costs, it is
necessary that every amount of money must be saved. Forecasting is an important method to
save costs as forecasting makes the organization predict about the future demand and thus helps
in managing the resources efficiently.
Organizations can have a key to strategic decisions in terms of forecasting. The first
decision for the organization is to understand exactly what forecasting is. The process of
forecasting is not a computer based process; rather it is a management process. The second
important key in terms of forecasting is to forecast for demand first and then plan for supply
accordingly. The third important key in terms of forecasting is to communicate, collaborate, and
cooperate as forecasting requires input from various levels of the organization. Performance
should be measured and feedbacks should also be collected by the organization to make
forecasting successful.
For example, the HR department can forecast about the future manpower requirements by
forecasting the demand through various quantitative and qualitative techniques and then compare
the forecasted demand with the supply. Further, appropriate actions can be taken for shortfall if
any. Finally, the HR department would be required to evaluate the performance and then forecast
for the future activities again.
Budgeting
Forecasting can be of different types out of which financial forecasting is known as
udgeting. Budgeting is a wide term and it includes various types of budgets depending upon the
equirement of the organization, collectively they are called as the master budget. Master budget
is the summary of various plans of company. Master budget includes sales budget, purchase
udget, raw material budget, labor budget, cash budget, Selling...