A strategic initiative in a business organization is a comprehensive plan that links up the companies’ objectives and its future goals and visions. Based on the results and outcomes from the SWOT analysis we conducted, as a measure to assess the company’s strengths, weaknesses, opportunities, and threats, my team came up with a tremendous life-changing initiative to upgrade the financial management of the DIVERSICARE HEALTHCARE organization. Referring to the financial statements we looked into, one of them being the organization’s income statement, it was discovered that the business was not on a sound financial footing and hence required critical and quick changes to rescue it from potential financial crises.
Some of the changes agreed upon for the organization’s financial betterments were that the organization would look into ways of reducing operational costs as lowest as possible to increase its gross profit. Reduction of these costs will create room to reduce expenses on the business, and hence with fewer expenses, the revenue increases; therefore, a discoverable profit will be noticed. Other changes were that an increase in sales revenue for the coming financial years was suggested by strategizing on best possible ways to bring revenue in, reducing the overall labor costs for the business, reducing the insurance premiums, and finally reducing the organization’s utilities to maximize incomes and save on expenses (Stolowy et al., 2022). All these changes set aside had the same outcomes, and that was that it would have maximized and stabilized the business’s financial standing by increasing its revenue and hence a high business growth rate.
The budget figure below illustrates the proposed comprehensive plan and a prepared simple budget to accomplish all changes and obligations intended to be achieved after the financial management was revised and improved.
|1. Income||Amount in $|
|Training and education||$5000|
|Carriage inwards costs||$500|
|Total income minus total expenses.||$6,500|
In this simple illustration of our budget, there will be a profit of $6500 in the organization that financial year, if all strategies are set, followed.
A budge of recent and previous financial statements was examined and tested to convey and understand the organization and the financial standing or performance of the business. I reviewed the balance sheet, the income statement, and the cash flow statement of the organization. The balance sheet contributed a lot in informing us of the fixed and current assets available in the business, the liabilities, and equity all in one place (Bryans, 2018). Analysis of this balance sheet can provide several different reviews to the analysts. Some analysts consider the firm’s equity to be from the deduction of the liabilities from the assets, while others look into the entire capital of the firm.
On the other hand, the income statement is used to access the kind of income a business earns and the cost of the expenses involved in its operational activities within the company. Generally, this financial statement provides the analysts with whether the business is making a profit or not (Bryans, 2018). It also shows with clarity all direct and indirect expenses a company incurs. For example, in the profit and loss account, total sales were $100000 while the expenditures totaled $ 115000 hence giving a noticeable loss of &15000 in the data we examined during the research. In conclusion, all three financial statements co-relate and work together to provide an overview and information about the business’s financial standing. Hence, the analysts should consider reviewing current data to make a sound decision and financial planning on any strategic initiative.
Boone, L. E., Kurtz, D. L., & Berston, S. (2019). Contemporary business. John Wiley & Sons. Retrieved from https://books.google.com/books?hl=en&lr=&id=klTGDwAAQBAJ&oi=fnd&pg=PA1&dq=Boone,+L.+E.,+Kurtz,+D.+L.,++Berston,+S.+(2019).+Contemporary+business.+John+Wiley++Sons&ots=K69rzKh7zd&sig=SmjxFuOZBMZPsEuxTzvGJIPUb_8
Bryans, W. (2018). Practical budget management in health and social care. Routledge. Retrieved from https://www.taylorfrancis.com/books/mono/10.4324/9781315377926/practical-budget-management-health-social-care-william-bryans
Stolowy, H., Paugam, L., & Gendron, Y. (2022). Competing for narrative authority in capital markets: activist short sellers vs. financial analysts. Accounting, Organizations and Society, Forthcoming. Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4003418
Financial Analysis Of UPS Free Writing Sample
UPS has a customer service strategy of prioritizing them while offering the most effective digital services in global logistics operations. In this case, the company ensures customers find an easy way of doing business with UPS. Regardless of such a strategy, UPS experienced a drastic change in its financial status due to not meeting customer requirements during the Christmas season (Liu & Lai, 2016). One can project the shortfall incapacity to reach over a million packages per working day, affecting revenue accumulation and sales. In addition, such a result is threatening since the delivery demand is high, and the company spends a lot to cope with the high demand and potential inconvenience. The giant company exceeds its maximum shipping capacity, and there is a need for notification to regulate the client’s trend (Liu & Lai, 2016). Though UPS has to maintain its reputation, the company failed to keep quarter revenue estimations of revenue over the previous years due to missing estimates and lack of accountability to the issue.
On the other hand, UPS can lease fourteen aircraft and expand the automation packaging. In this case, the automation package will handle a broader range of products exceeding four hundred thousand and add one hundred thousand new employees for particular responsibilities (Liu & Lai, 2016). The recruits will work on a short-term contract basis, and their sole role will entail handling deliveries and peak levels. Implementing such an aspect will help raise UPS shares from nine percent to $155.78. Currently, the company’s revenue surpassed the previous record by growing 9.2% to over twenty-three billion dollars; the above data shows results that will elevate financial margin compared to other holiday seasons. In addition, having the right people at the right time will help avoid and mitigate any delays that might cost the company’s financial target during such a season (Liu & Lai, 2016). However, there is a need for coordination, cooperation, and team efforts between the executive, concerned departments, and employees.
UPS created brand equity that elevates its reputation and global image worldwide through its high-quality services and excellent culture. In this case, the culture and its reliability helped the company maintain and solidify its revenue sources, thus gaining a solid foundation financially (Prajogo et al., 2016). In addition, UPS tends to maintain customer loyalty, thus creating a suitable environment for longer relationships, thus dominating their revenue. On the other hand, the company has an extensive distribution network system, thus allowing it to reach every customer and meet their satisfaction. Through innovative and technological approaches, UPS solidifies its financial sources whereby it has an ever-increasing financial performance ranging from fifty-five billion to over sixty-five (Prajogo et al., 2016). However, its weakness lies in the dependency on US domestic market for economic growth; if the domestic market experience any disruption, UPS gets high effects. In addition, the lack of an updated operating system affects UPS highly since its cost reached almost fifty-eight billion.
The Christmas celebrations or holiday season affect supply chain management differently, and one cannot anticipate potential threats. Recently, the pandemic lowered supply chain management in the ports of the US, and goods could surpass the intended delivery period (Lyu et al., 2019). In this case, shoppers or retailers will encounter late delivery of the products since the Covid nineteen variant took a drastic change affecting logistics operations. On the other hand, if the problem affects UPS without letting the intervention of skilled personnel such as HR, the company will continue to experience a shortfall in revenue. Though the company has relatively maintained a steady margin on its revenue collection, it spends a lot on such a period, and customers will lose trust in them (Lyu et al., 2019). However, the company will experience a lack of improvement to dominate the market and gain a competitive advantage due to the loss of customers.
On the other hand, UPS needs to update policies that indicate their stands on any matter related to ethical issues and potential risks. For ages, UPS has followed the foundations of the founders in having principles that define their operations and holding firm on values (Lyu et al., 2019). In this case, UPS abides by integrity to all who depend on their services, honesty, and offering quality operations. In addition, the company prioritizes implementing integrity in their operations since it is crucial to validate one’s trust, especially to customers. Furthermore, UPS guides its mandate from financial issues to the root of business operations on the grass-root by taking proactive approaches. The company uses a tracking system that will capture every step and allow the employee to take a picture to avoid lost packages and arising issues (Lyu et al., 2019). However, such an aspect is essential to prevent negligence that will arise ethical issues, especially during holiday seasons.
Liu, C. L., & Lai, P. Y. (2016). Impact of external integration capabilities of third-party logistics providers on their financial performance. The International Journal of Logistics Management.
Lyu, G., Chen, L., & Huo, B. (2019). Logistics platforms and locations impact logistics resource integration and operational performance. The International Journal of Logistics Management.
Prajogo, D., Oke, A., & Olhager, J. (2016). Supply chain processes: Linking supply logistics integration, supply performance, lean operations, and competitive performance. International Journal of Operations & Production Management.
Firearm Violence And Global Health Sample College Essay
Firearms violence is the most common cause of homicide and suicide (Wintemute, 2015). It is noted that some of the determinants of violence include emotional, social, and environmental factors. Various approaches can be utilized to stop gun violence. Nonetheless, a public health view to firearm violence would be best to implement as it can help embrace the prevention strategies since stakeholders would want to look beyond the immediate causes to the deeper social and environmental factors, basing policy on scientific research. This paper explores gun violence as a public health problem, steps to take if a public health perspective to gun violence was adopted, and how the various steps would be implemented and the community support needed.
Firearm Approach as a Public Health Issue
As noted, firearm violence is a leading cause of premature death. According to a study, 38,000 people die as a result of gun violence each year (Wintemute, 2015). At the same time, nearly 85,000 people get injured each year within the U.S. Globally, more than 250,000 deaths results due to firearm violence (Werbick et al., 2021). In addition, Werbick et al. (2021) state that 857 million firearms are in civilians’ hands, which increases the likelihood of gun violence. As the research body advances, the public health and healthcare stakeholders have shifted towards treating gun violence not only as a preventable issue but also akin to infectious ailments. It is seen that individuals most at risk to firearm violence have common exposures such as disease epidemics. More so, factors such as the environment and socio-economic statuses of people contributes to the firearm violence prevalence. With such knowledge, there is a need to implement public health interventions that can help decrease the prevalence of firearm violence.
Steps to take if a Public Health Initiative to Firearm Violence was adopted
Given that there are negative existing evidence of global health outcomes linked to gun violence, further energizing of a larger worldwide community of activists and developing momentum around a compelling narrative regarding health impacts & interventions should be established. An inter-disciplinary research effort regarding firearms would be imperative to develop effective solutions (Wernick et al., 2021).
The public health community focuses on policies that have a larger direct effect. Firearm violence policies make a part of these areas. A public health approach expands one’s understanding and informs new perspectives into proposals that can reduce suffering. Therefore, a second step would be to aid the public policy community advance the scope of governmental regulations. This way, to help minimize gun violence.
How the Steps would be Implemented & What Community Support would be Needed (Ex to support opinions)
The first step involves developing a multidisciplinary research effort. In this case, future research can include both direct and indirect health outcomes linked to firearm violence. Wernick et al. (2021) state that most focus is given to the direct health burden of firearm violence. Researchers can seek knowledge from people within communities to help with an understanding of how gun violence affects their other health aspects, such as their physical and mental health outcomes associated with factors like grief, medical care costs, and PTSD. Studying this issue through such a perspective can help inform valuable perspectives on the principle causes of gun violence and possible solutions.
As highlighted, the second step can involve helping the public policy population advance the scope of governmental regulations. In this case, the public health perspective concedes that criminal justice is an effective way that governments use to influence the levels of firearm violence. Broadening the range of governmental policies can include funding firearm-related studies and utilizing the governments’ purchasing power such as to provide markets for safer firearms. Success from other injury prevention areas has involved product standards that are crucial for eventual fire-safe cigarette legislation in all the U.S. states (Hemenway & Miller, 2019). To implement this step, an attempt to get the stakeholders to agree that there is a problem goes a long way. Also, to involve as many individuals and institutions both private and public. Similarly, make efforts in engaging non-governmental bodies to take beneficial actions. For instance, encourage and work with health facilities, survivor groups, and other groups such as universities to reduce gun violence.
In conclusion, this paper finds gun violence to be a major cause of mortality and disability within the global population. Although various approaches can be utilized to mitigate gun violence, a public health approach can help embrace the prevention strategies as the stakeholders involved would look beyond the immediate causes to the deeper social and environmental aspects, basing policy on scientific research. This paper found that an inter-disciplinary research effort regarding firearms would be requisite to develop effective solutions. Indeed, research can help inform both direct & indirect health-related outcomes linked to firearm violence through seeking knowledge from people within communities for more understanding of how gun violence affects their other health aspects. Similarly, advancing the range of governmental policies would help to better measures in regards to firearm violence. As noted, this can be successful through engaging individuals and stakeholders in the private and public sectors.
Hemenway, D., & Miller, M. (2019). Counterpoint: Reducing firearm violence—why a public health approach is helpful. Journal of Policy Analysis and Management, 38(3), 795-801.
Werbick, M., Bari, I., Paichadze, N., & Hyder, A. A. (2021). Firearm violence: a neglected “Global Health” issue. Globalization and health, 17(1), 1-5 https://doi.org/10.1186/s12992-021-00771-8
Wintemute, G. J. (2015). The epidemiology of firearm violence in the twenty-first century United States. Annual review of public health, 36, 5-19. https://doi.org/10.1146/annurev-publhealth-031914-122535