Responding post nr-533 week6
Respond to the classmate post below.
Classmate post:Financial management training is a course that teaches you the skills and knowledge needed to manage your personal finances. Financial management training can help you learn how to save money, make wise investment decisions, budget effectively, and handle debt. For the new project the key process is very important. I focused on the creation of financial management programs within health institution to increase level of competencies. The institution has a potential and facilities to implement this changes. Financial management is the process of managing and controlling money in a healthcare setting. It includes budgeting, cash flow management, purchasing and procurement (Kondukotsova, 2019). The PICOT is as stated below.
Among advance practice nurses (P), will offering institutional oriented financial management training programs (I), as opposed to only personal oriented programs (C), Increase the level of financial management competency by 20% (O) over four months (T)?
SWOT stands for Strengths-The institution has existing programs that are associated with progressive training for learning and support financial competencies. Weaknesses-The key weakness in the project is the lack of recurrent professionals to sustain the training programs. Opportunities- The main opportunities identified include the integration of online programs that are very relevant to the project. and Threats- the main threat in the lack of resources to support the financial management training programs. It is a tool used by businesses to evaluate the strengths and weaknesses of their business in order to make strategic decisions on how they can improve their performance.
SWOT analysis helps you understand your business better so that you can make informed decisions on how to improve it. You will be able to identify where your strengths are and what areas need improvement. This will give you a clearer picture of what needs to be done in order for you to achieve success with your business. Nurses are not adequately trained in financial management. This is mainly due to Lack of knowledge and skills. Lack of time to learn about it (Huber, 2019). Lack of interest in learning about it. The main person to consult for this issue is the financial officer and executive nurses. Being able to manage your own finances will give you more control over your life. You’ll be in charge of what happens with your money instead of letting someone else decide for you. This means that if something unexpected happens, like an illness or job loss, it won’t affect everything financially at once because you have planned ahead for these types of situations.
