Business Case for a New Economic Opportunity
This document is designed to give you questions to consider and additional guidance to help you successfully complete the Business Case for a New Economic Opportunity assignment. You may find it useful to use this document as a pre-writing exercise or as a final check to ensure that you have sufficiently addressed all the grading criteria for this assignment. This document is a resource to help you complete the assignment. Do not turn in this document as your assignment submission.
Part 1: Risk and Mitigation Analysis
Analyze the opportunities and risks relevant to your proposed economic initiative.
· What are the opportunities that will be created by your proposed economic initiative?
· How will these opportunities be beneficial to your care setting?
· What are the risks associated with your proposed economic initiative?
· How could these risks pose a threat to the financial security of your care setting?
· How do the potential economic opportunities compare to the potential economic risks?
Propose ethical and culturally sensitive solutions to address the risks associated with your economic initiative to ensure the future security of your care setting.
· Which risks that you identified are potentially the most problematic for your care setting?
· How could each risk be mitigated?
· How could you modify your proposed economic initiative?
· How have other care settings and experts in the field dealt with similar risks?
· What other alternatives could you pursue to reduce the risks associated with your proposed initiative?
· How have ethics and equality factored into your proposed solutions (are your solutions not unfairly burdening or disadvantaging any specific groups)?
· How will this proposal affect community health care delivery outcomes?
· What makes this a great opportunity for economic growth?
· What might be potential issues to consider?
Part 2: Cost-Benefit Analysis
Analyze the costs and benefits of your proposed economic initiative over a five-year strategic outlook.
· Did you complete the Cost-Benefit Analysis Template?
· Include the template as an appendix item, which you will reference during your narrative analysis of your findings.
· How does your completed spreadsheet support or warn against specific aspects of your proposed economic initiative?
· How would you recommend the findings of the cost-benefit analysis be incorporated into the decision-making process regarding the feasibility of your proposed economic initiative?
Propose potential ways to keep costs under control while maximizing the benefits of your economic initiative and ensuring that it remains ethical and culturally equitable.
· What are the costs that you are most likely able to control or reduce?
· How would you go about ensuring this?
· How would manipulating these costs potentially affect the benefits of your proposed initiative?
· What are some strategies to maintain or maximize these benefits while making your proposed adjustments in costs?
· How do you plan to ensure that any adjustments to the costs or benefits of your proposed initiative are done ethically and in an equitable way?
Address Generally Throughout Business Case
Justify the relevance and value of the quantitative and qualitative economic, financial, and scholarly evidence you used to support your recommendations throughout your report.
Note: This criterion will be addressed throughout your report. You should be using evidence that is relevant and persuasive to support your findings, proposals, and recommendations. You should be illustrating one or more of the following when citing support evidence to the senior management:
· How is the evidence relevant to your care setting?
· How is the evidence relevant to your proposed economic initiative?
· How does the evidence illustrate a solution that has been successful in the past?
· How does the evidence illustrate that an initiative or solution is likely to be a net benefit to the care setting?
Communicate your business case in a logically structured and concise manner, writing content clearly with correct use of grammar, punctuation, and spelling.
· Is your report logically structured?
· Is your report 3–5 double-spaced pages?
· Is your writing clear and free from errors?
· Does your report also include both a title page and reference list?
Effectively support your report with relevant economic data and scholarly sources, correctly formatting citations and references using current APA style.
· Did you cite 4–5 sources that provided economic, environmental, or scholarly support of your proposal and analysis?
· Did you use a combination of quantitative and qualitative evidence?
· Did you format your citations according to current APA style?