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Risk Management in Healthcare - Free Essay Example

Sample details Pages: 10 Words: 2951 Downloads: 1 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? Health Care Management Task 1 Background of the organization Healthcare has been an important aspect in people’s lives throughout the centuries but as we all know our human resources are starting to deplete. Medacs Healthcare provides healthcare related jobs for foreign or local professionals with proper training and experience. Medacs provide exceptional service and good healthcare service by hiring highly trained professionals to fill in absences and understaffing of different hospitals or rest homes all around Auckland. Don’t waste time! Our writers will create an original "Risk Management in Healthcare" essay for you Create order Medacs Healthcare is one ofthe top international employment agencies for Healthcare related jobs here in New Zealand. Every year hundres of people coming from different countries come to New Zealand and are given opportunities to enhance and improve their skills in healthcare management. Healthcare professionals that are being entertained by Medacs healthcare are nurses, doctors, healthcare assistants and others allied health professionals. Medacs Healthcare offers a variety of fields in healthcare that professionals may engage into. These professionals may take on but not limited to Forensic Medical, Prison health, Primary care and Occupational Health. Purpose of Risk Management in this Organization Risk Management’s purpose is to recognize possible, impending, imminent problems and conflicts before they even occur so activities that are risky may be considered and planned. Risk management should also assess and tackle issues that may cause danger or hinder achieveme nt of objectives set by the institution to control any uncertainties. A regular risk management should be done to diminish and anticipate the risks that may have a direct effect on the organization and the way it functions. Risks to patient/clients, hospital staff, and the organization itself are common in healthcare. Risk management focuses on eliminating or preventing these risks involving healthcare such as negligence, malpractice, miscommunication, events that may lead to patient harm and others. Having no risk management plan in this healthcare institution may lead to serious problems, lawsuits, and long term consequence that may compromise how we care for our patients and in the long run may lead to financial losses. Benefits of Risk Management in this Organization Having a good risk management plan in this institution limits conflicts and problems encountered during the operation of activities. Risk managements also limit repetition or errors, eliminate risks that ma y snowball to a bigger problem and analyze conflicts inside the institution. Achieving compliance with regulations is also one of the key benefits of risk management in this institution because once risks are identified and eliminated; standardization will follow by limiting errors previously identified, consistency in how employees work and regularity of processes inside this institution. Performance of employees may also be improved due to awareness in such risks that may lead to different negative effects towards this organization. Identification and elimination of risks can also lead to good feedback from our clients/patient which they interpret as good service. Also, some key benefits of implementing good Risk Management includes less surprises or untoward events, effective use of resources such as facilities and human resources, and reassurance of stakeholders on their stocks in this organization. Accepting opportunities and preventing issues to happen can make a difference in this organization’s well being. Effective risk management helps this organization to be prepared for them. This preparedness and readiness may save an organization time, money and other key items that may help an institution improve and grow. Effective risk management may include untimely and aggressive risk identification through the teamwork and participation of stakeholders, leaders and employees of this institution. Good risk management leads to good service. Good service means satisfied clients/patients. Satisfied clients mean less profit losses. Components of Risk Management and their Relation to the Overall Rate of Risk management A review of activities and internal environment of the organization. Medacs nursing is located at Level 6, Ferncroft Street, Grafton Auckland. Medacs nursing employs professional staffs that may serve as a temporary, reliever or substitute due to lack of employees in a rest home or hospital. They provide opportunities to reli eve the said slots but no guarantee of work during a week. Medacs nursing requires hired professionals to call the main office weekly for them to know the availability of each person. When clients hospital/ rest home needs a reliever, they phone medacs consultants and request for a substitute employee that has the same skills, experience and knowledge on their assigned position. The consultant then processes the request and checks the system who met the criteria set by the client institution. Once set, the consultant then calls us employees if we are going to accept the shift or not. That is the reason why we need to send our availability weekly to them. Once we accept the offer the consultant then provides the client institution our personal data especially our name. We are then submerged in a healthcare setting which we then do routine cares and assist New Zealand registered nurses and other healthcare assistants. So our organization is Medacs healthcare but our workplace and envi ronment is hospital or rest home setting. After our shift, we let our senior healthcare assistants or nurses sign the time sheet provided by Medacs as a proof that we completed the shift. Setting of objectives The main objective of the organization is to be the principal provider of highly trained healthcare professionals in different healthcare institution in New Zealand by giving our clients good service, quality of care and professionalism. Also, this organization aims to assist healthcare professionals find a suitable position that may give them a new lifestyle, personal growth and professional development. Event identification As we all know, unexpected events may occur throughout the day to day activities of an organization. These unfortunate events or condition affects the mission objective of the organization when it happens. These events may be related to different aspects inside the organization and we may categorized but not limited to as operational, empowere d, information technology, organization’s integrity and its financial undertakings. Risk assessment with particular reference to the impact and likelihood of risk Identification of hazards and prioritizing what risk to take into consideration first is an important aspect for this would be the initial contact in risk assessment. Identifying hazards and deciding who may be affected by these hazards is a good starting point in the process Risk response plan Risk response planning is the method of budding options and identifying actions to improve good opportunities and eliminate issues or threats to the company’s goal and objectives. Risk response planning must be SMART as we all say in the nursing field.(systematic, measurable, attainable, realistic and time bound). Control and monitoring of activities Risks all around us can never be completely eliminated, but it can be managed. Controlling these risks may involve a different approach in strategie s, correcting some action that led to the risk itself or re plan the whole process or project. Monitoring these activities may also prevent risks and errors from happening again. As the organization matures, risks or challenges changes. The organization should adapt and improve the risk management process in it. Operational event Events that may alter the smooth daily routine of the organization such as early termination of duties or assignments, cancellation of assignment a few hours prior to actual duty, client organization refuses to accept substitute employee and others. Early termination of duty assignment means that your assignment ended earlier than the expected end time. Refer to table 1.1 for further depth, risk identification and risk response plan. Table. 1.1 Event Risk assessment Risk response plan Control of activities and monitoring For example, you were assigned as a watch (meaning to watch over) in community health work and your patient suddenly died for an expected cause in the middle of your shift. That means your work hours may be terminated early and you must contact any coordinators from the organization. It may cause risk not only to Medacs healthcare but also to the employee. It is a risk in the organization and employee because it may put the employee in harm. This event is unlikely to happen. It may happen but not all the time. Medacs healthcare briefed their client, they should always let the Medacs staff finish their assignment. They also made us aware that we should not exit our assignment area before our required time of finish. Medacs employees are instructed and are required to stay in their assignment area until the end of their shift. Staffs are given time cards where they put in the time of their shift and assignment area. These time cards are then collected weekly for collation and weekly paycheck. Another example is cancellation of duties/ assignments a few hours prior to the scheduled time where in employee is already on his/her way to the assigned area and suddenly it was cancelled due to some reasons We may also see this as a risk because unhappy employees and staff can also be harmful in an organization they’re in. We may see this event can affect this organization highly. This risk is also unlikely to happen. Medacs always make sure that employees are updated on their assignment areas and time of their shift thru phone calls and text. Medacs has a list of all the availabilities of their staff that are given weekly by themselves. If ever the assignment was cancelled the employee is informed right away and an explanation is needed from the client hospital/resthome is needed. Empowered event Events that relate inappropriate and inefficient assignment to as staff or employee. For example in a hospital setting, a newly hired employee was directly hired as a manager with no experience and no trainings at all. This is an example of empowered event risk because the management delegated a task to a subordinate incompetent of the job itself. In healthcare, this may affect highly as we are dealing with lives and patients here. Please refer to table 1.2. Table 1.2 Event Risk assessment Risk response plan Control of activities and Monitoring Another example in healthcare setting is what we (Filipino registered nurses) are experiencing right now. We are trained as nurses in the Philippines but not trained here in New Zealand. This may be a risk because we are not trained as nurses here in New Zealand. This may cause serious errors and problems in an institution. This event is unlikely to happen because this risk may be eliminated easily. This organization then assigns us to be Health care assistants in order for us to familiarize ourselves in some nursing processes here. We are then required to attend a competency assessment program if we really wanted to be registered nurses here in New Zealand. Trainings and other programs that help improve patient care is recommended in organizations like this. Upon hiring medacs healthcare requires us some certificates that proves we are trained to do such activities e.g. Basic life support certificate. These certificates are then collated and kept by the organization themselves for future reference. Environmental External events that may alter progression of company’s well being such as workplace hazards (fire hazard inside the institution), security, infection control, maintenance of facilities. These factors may cause harm or lead to serious effects once untreated and unnoticed. Healthcare facilities are prone to environmental hazard. Table 1.3 Event Risk assessment Risk response plan Control of Activities and Monitoring Take for example a sick patient. That patient came in contact with health care personnel, then that personnel came in contact with another patient sharing the microorganisms from the latter. The second patient who came in contact with the second patient has a tendency to acquire a new infection. And this risk is highly to happen in a healthcare instituiton Medacs healthcare focuses on handwashing for infection control. They even gave us handouts during the induction phase for infection control. Evaluation forms were also given to us upon induction. These evaluation forms are completed by our immediate senior in the institution regarding our performance including patient care. Another hazard in healthcare environment is natural calamities such as earthquake, fire and the likes This can lead to patient injuries that may aggravate patient’s condition and the structure of the organization itself. Hazard themselves are likely to happen. Medacs healthcare has an emergency preparedness plan for their organization themselves and hospitals where we do our duties have one as well. Hospital make sure that their fire extinguishers are potent and checked up to date. Even escape plans are explained. Integrity Events that may relate to criminal and deceitful behavior that may influence both material and immaterial resources of the organization. In simpler words, these are events that may put the company’s name in lawsuits and decrease its reliability thru the eyes of client hospitals. This aspect of event identification affects greatly the organization because the name of the company is at stake. It may also affect the marketing and commercialization of the company. Table 1.4 Event Risk assessment Risk response plan Control of Activities and Monitoring An example of this is medication error that transpired inside the facility. Medication error can cause harm to the patient. Also, medication errors may aggravate patient’s condition or worse, may cause death. This event may put the staff involved and the organization itself to multiple lawsuits which we all don’t want. This is highly unlikely to happen because we healthcare assistants are not allowed to medicate. Employees of medacs healthcare are asked not to do jobs that aren’t yours that may cause harm to the patient or people around you. If a medication error or a mistake occurred in your assignment area and proven that you are involved, you are required to write an incident report to be passed in the institution and medacs healthcare. Investigation will then happen. Reporting these incidents may prevent this things to happen again. Other examples are sexual harassment in the workplace These behaviors may sprout complaints from employees, clients and patients from that organization. These event may be possible because of some demented patients or other sexually preoccupied staffs. Medacs gave employees a brief explanation on how to act in the hospital, grooming and proper uniform. Incident reports or formal complaints may be filed against the defendant and investigation will occur. Furthermore, behaviors like this is escalated to the management of the client institution Financial This aspect means any event that may involve monetary aspect of the organization. This event identification aspect may be related to lower incomes, money losses, and higher company expenses than expected. Money in a company is like oil in a machine. It makes everything run smoothly. No money means more corrosion will happen inside the organization that may lead to serious trouble such as bankruptcy and the likes. Table 1.5 Event Risk assessment Risk response plan Control of Activities and Monitoring Some examples are delays in payroll of employees and These may cause employees to be unhappy with their employer. This is event may happen but can be prevented. Medacs make sure payrolls are being disseminated accordingly because it is managed by another bub branch inside medacs (payroll committee) Staffs are given time cards where they put in the time of their shift and assignment area. These time cards are then collected weekly for collation via email of fax and for our weekly paycheck. lawsuit requires financial support to maintain the credibility of the organization. This event may happen but can also be prevented. Proper decorum, proper trainings and jobs description are some of the plans in the prevention of this risk. Whenever incidents inside the institution occur, we are obliged to make an incident report for the institution to know what happened. These are then collated and monitored the recurrences. Information system These aspect shows the risks linked to information systems and information technologies. It may also mean a good communication inside the institution. Good communication is important. That’s why in Medacs Healthcare, good communication is required. We are required to send our availabilities for the next week via phone call and assignments or duty areas are being said and shared via phone call as well by coordinators. Emails regarding trainings are shared between coordinators and employees as well. A good flow of communication system lessens the risk of miscommunication thus it an important aspect as well for it will greatly affect the outcome or evaluation of the organization. Some examples are as stated above and explained in a different aspect of event identification. Information and communication Dissemination of information and communication is important in an organization. If an employee sees a risk in the workplace, Medacs healthcare suggests that we should i nform them right away. Technology is a big help nowadays. Medacs healthcare make sure that they’re available for us employees. Upon induction they informed us about their contact numbers, emails and who to talk to whenever we wanted to ask for help or we wanted to share some problems in our assignment. They even offered us some one-on-one conversations whenever we feel like talking about problems and risks in our assignment areas. We are also required to report incidents that transpired in our assignments areas like falls and other injuries that happened to patient. Then an investigation will happen regarding the incident on what steps will be taken to eliminate or prevent the same incident to happen. Emails may also be sent in our accounts regarding proper training programs to enhance our skills to prevent recurrences of error and eliminate these risks. Keeping us updated regarding changes and what’s happening inside our organization is really helpful in the preventio n of issues and promoting more opportunities for the organization. Roberto S. Recto Jr. Health Care Management (Level 7) Risk Management

Globalization of Enterprise Free Essays

2012 Nigel. S. Paltoo – A11904 10/9/2012 Globalization of Enterprise 715 GE Source:Flikr. We will write a custom essay sample on Globalization of Enterprise or any similar topic only for you Order Now com ASSIGNMENT COVER SHEET(to be completed by the student)| AIB student ID number:| A11904| | | Student name:| NIGEL. S. PALTOO| | | Course name:| MBA -GENERIC| | | Subject name:| Globalization of Enterprise 715-GE| | | Subject facilitator:| Dr. Brian O’Toole| | | Teaching Centre:| NATIONS UNIVERSITY-GUYANA| | | No. of pages:| 17| | | Word count:| 2708 from Intro to Conclusion (2500 +10% tolerance) | | | DECLARATION| I, the above named student, confirm that by submitting, or causing the attached assignment to be submitted, to AIB, I have not plagiarised any other person’s work in this assignment and except where appropriately acknowledged, this assignment is my own work, has been expressed in my own words, and has not previously been submitted for assessment. | ASSESSMENT SHEET(to be completed by the examiner)| Student name:| NIGEL. S. PALTOO| | | Course name:| MBA -GENERIC| | | Subject name:| Globalization of Enterprise 715-GE| | | Assessor/marker:| | | | COMMENTS| Principles learnt (for example, number and understanding of principles referred to, their influence on the structure of this paper, number and correct citations of  references, use of appropriate jargon)     | | /4| | | Application of principles. That is, the  analysis and evaluation of the example problem based on the principles, including the final recommendations and their justification| | | /8| | | How well the example problem was described, including the extent and depth of information (including the data) about it that was accessed| | | /4| | | Structure and presentation| | | /2| | | Style, grammar   and language| | | /2| | | Total | | Less penalties| | GRAND TOTAL| /20| General comments| | | | FOR MODERATOR’S USE ONLY| I agree with the assessor’s assessment I disagree with the assessor’s assessment and the new mark is as follows for the following reasons: | /20| | Moderator:| | NATIONS UNIVERSITY–GUYANA ®AUSTRALIAN INSTITUTE OF BUSINESS-MBA  ®GLOBALIZATION OF ENTERPRISE-715 GEASSIGNMENT Comparing and contrasting two countries for international expansion into by local apparel company Denmor Garment Manufacturers. | Assignment: You are the manager of a business (in your country or region) that is thinking of going global. Compare and contrast two different overseas markets for the international expansion of your business, covering a consideration of: 1 †¢ Political economy issues †¢ Cultural issues 3 †¢ Entry strategy 4 †¢ Strategic alliances Start your assignment with a very brief description of the entrepreneurial business that you are writing about. This business can be your own business or one that you are familiar with, or it can be a hypothetical one based on an amalgam of several businesses of which you are aware. Conclude the assignment with whether the business should go to one or the other of the two countries, or non e, or both. The total number of words should be 2500 words. For penalties regarding exceeding the word limit, please refer to AIB Style Guide. For guidance on how to write an assignment, please refer to AIB Assignment Guide. Please note, the word count does not include your cover page, an abstract, table of contents, list of references or appendices. Thus you can place any supporting material that exceeds this word limit into appendices. However, a reader should not have to look at an appendix to know about the main thrust of the points you are making in your assignment. So make sure all your main points are in the body of your report and refer there to the appendices that will support the points you are making in the body of your report, because the reader may not look at the appendices otherwise. Abstract: In the last quarter of the 20th century to present day the world economy has become more integrated and interdependent than ever before, with businesses both large and small expanding beyond their traditional local markets as barriers to world trade came down and technology advanced resulting in significantly lower communication and transportation costs. This phenomenal change in the international environment in which business is conducted has resulted in increased levels of foreign direct investment by companies from developed countries in lesser developed economies such as the Third World as economic benefits were sought through the globalization of production as well as markets. (Hill 2011, p. 5) With the benefits being widely seen to outweigh the disadvantages smaller companies are looking for the arrangements internationally that would best serve their interests of growth and expansion with companies from lesser developed countries now also looking to capitalize as well by creating synergies at the basic level by expanding their market horizons overseas, penetrating first and expanding as demand and relationships develop. This shift in the world economy towards greater integration and interdependence is one way of describing Globalization (Hill 2011, p. ). Globalization can be seen as the increase of functional integration between internationally dispersed economic activities, which is quite recent, as opposed to the older phenomenon of â€Å"Internationalization† which refers to the geographic spread of economic activities across borders and oceans which started in the 17th century when the colonial powers started dividing up continents in the New World in search of raw materials and markets (Devaraja 2011). In Guyana, the more established companies have been seeking avenues to expand their markets overseas through exports and by establishing lower level strategic alliances. Hardly any local company has sought to globalize its production to increase its profitability. For any company looking to embark on international venture the interdependent political, economic and legal systems of the target country along with its underlying cultural fabric must be examined and analyzed in detail before any investment is made (Hill 2011, p. 45). In Guyana, a small English speaking, third world country in South America, the more established manufacturing companies have been seeking avenues to expand their markets first through exports and also by establishing lower level strategic alliances overseas. Denmor Garment Manufacturers (DGM) is one such SME within the apparel industry in Guyana that has benefited from the effects of Globalization by having contracts to manufacture specific designs from companies owning major brand names in the USA (which are looking to lower their production costs) as well as by exporting directly to major retailers overseas. Table of Contents| Page. | 1. 0 Introduction| 9| 2. 0 Denmor Garment Manufacturers| 9| 3. 0 Current Situation with DGM| 10| 3. 0 The challenge of international expansion| 11| 4. 0 Political and Economy Issues| 12| 5. 0 Cultural Issues| 15| 6. 0 Entry Strategies| 16| 7. 0 Conclusion| 17| Bibliography| 18| 1. 0 Introduction: The aim of this research is to analyze the potential of two countries short listed as possible candidates for the further international expansion of DGM. These two options are reviewed in the perspective of the main issues that have to be taken into account when considering business expansion into foreign markets viz Political economy issues, Cultural issues, Entry strategy and Strategic alliances with the state of affairs in both countries being compared and contrasted with a decision being arrived at as to whether to expand into one, both or none of the two countries. It would be impossible to look at all aspects of the Socio-Economic, Cultural and Political landscape of the countries being considered therefore only the reas most likely to have an impact on DGMs’ venture are considered in the context of the nature of its business and the products on offer. Denmor Garment Manufacturers (DGM): Location: 7, 8, 9 Coldigen Industrial Estate, East Coast Demerara, Guyana. DGM is a private company in Guyana which commenced operations in 1997 and currently employs 1000 persons of which 97 % are women. Denmor has the capacity to respon d to orders of up to 50,000 dozens of garments per month, and can produce up to 15 different styles at the same time. Approximately 75 percent of Denmor’s activities involve full production (where the manufacturer manages all aspects except design), demonstrating an ability to carry out value-added manufacturing activities and supply-chain management. 100 percent of its products are exported, with its customers including some of the world’s leading brands and department stores, including Russell Athletic, Victoria’s Secret, Paris Accessories, Van Heusen, JC Penny and Wal-Mart. (Goinvest n. d) 2. 0 Current Situation with DGM: As it is DGM is presently a small part of a buyer driven value chain environment where the large retailers, marketers and brand name manufacturers have established a diverse decentralized network of production in third world and developing countries and are leveraging at the design and retail stages (Devaraja 2011). Having had a fair degree of success from its operations and acquired considerable know-how from its alliances DGM is looking to expand its market base and production capacity but is constrained locally by the limited supply of labour for any new factory and weak local demand for beach wear and sport uniforms. The key processes of DGM’s operation are very labour intensive involving the cutting of fabric and making of components by sewing machine and assembling into final product, this requires a semi-skilled to skilled level of labour. The challenge facing DGM is to remain a competitive player and to be able to increase profitability either by getting a bigger bite of the value chain from the companies overseas (expanding more into full production),developing its own brands or by securing new large brand name manufacturer customers and orders. It is therefore important that DGM look to increase its factory capacity while at the same time keeping costs down thereby increasing attractiveness to buyers. Faced with a limited labour supply and a high cost of energy and sometimes erratic power supply for sewing machines and air-conditioned factories it has become critical that DGM seriously consider the alternative of moving overseas. After much consideration DGM’s management has concluded that the area with greatest growth potential would be to expand using its own designs and brands. DGM has acquired significant expertise in the production of high end female underwear and in athletic uniforms from producing Victoria’s Secret products and Russell Athletic brand uniforms for the US NBA and is confident that it can tap into the supply chain for fabrics and using its own design team produce a new line of female underwear, beachwear and generic soccer uniforms that would have a higher quality and a far cheaper price, however in Guyana it is constrained by weak local demand and labour supply. . 0 The challenge of international expansion: Like any other firm contemplating international trade is faced with three strategic decisions about which countries to enter, when to enter and at what scale the entry would be. Consideration would have to be given to potential opportunities as well as areas of risk which must be closely analysed (Hill 2011). The countries selected for consideration would first be compared and contrasted with their distinct political, economic and cultural realities being looked at then options relating to possible entry strategy (ies) will considered along with strategic alliances that may be advantageous or required The two countries being considered for expansion into are Brazil and Trinidad. Before these two countries would have been brought up for further consideration they would have been on a longer list of potential candidates he rest of which would have been eliminated with Brazil and Trinidad meeting the basic criteria of having a significantly larger population than Guyana, they are both developing countries (better off economically than Guyana), with a free market system in place, manageable national debt and single digit inflation rates and both countries are geographically close by. A decision has been made that once the two options are found to be acceptable then entry into that market will be made within six months. Map of South America and Southern Caribbean Islands showing Brazil, Guyana and Trinidad Tobago. Source: www. worldatlas. com Political economy issues: Brazil and Trinidad are both democracies, having had free and fair elections for the past two decades. Both countries currently have female presidents. Brazil is a Federal republic consisting of twenty-six states the smallest of which is far larger than Trinidad which is a twin island republic with a sister island Tobago. Both countries can be considered politically stable with the most recent incidence of serious turmoil being twenty two years ago when Trinidad had a failed coup with members of the Jamaat al Muslimeem trying to seize power. Individualism is respected in both countries but more so in Trinidad. Indicator| Brazil| Trinidad| Size | 3,287,357 square miles| 1,980 square miles | Population| 197 million (2011 est. )| 1. 3 million (2011 est. )| | | | Government| Federative Republic| Democratic Republic| Legal System| Brazil is a former colony of Portugal. The Brazilian legal system is based on Civil Law. | Former British colony. The legal and judicial system is based on English common law and practice. | ECONOMIC| Brazil| Trinidad| GDP| GDP USD $2. 45 trillion Brazil is the sixth largest economy in the world. | USD $ 24. 63 billion| GDP per Capita| USD $4,803| USD $16,699| GNI per Capita| USD $11,500| USD $24,940| Exchange rate| BRL 1. 00= GYD $100. 00| TT $1. 00 = GYD $30. 00| Inflation | 5. 24 %| 5. 4%| Reserves| US$ 349. 708 billion| US$ 9. 692 billion| Debt as a % of GDP| 65. 1%| 37. 3%| Unemployment| 6%| 5. 5%| Source: Communicaid and Central Intelligence Agency World Fact book and www. tradingeconomics. com The data presented indicates that both Brazil and Trinidad are about as politically stable as Guyana with both countries being economically better off. However in Brazil there is a greater divide between rich and poor and a higher level of crime relative to Guyana and Trinidad. Both Brazil and Trinidad are currently experiencing low levels of inflation and unemployment Brazil unlike Trinidad has a tax on financial transactions; Brazil is far more bureaucratic when it comes to starting a business taking up to six months to get all the paperwork done whereas in Trinidad it is considerably easier and should only take one to two months. In Brazil getting certain legal permissions for establishing a business expedited may require the payment of bribes. There are no limits to repatriation of registered capital and no taxes on profits repatriated from both countries. DGM would have to consider the higher level of bureaucracy in Brazil when it comes to getting things started (which creates opportunities for bribes to be extorted) as compared to Trinidad. A business class visa is required for investing and doing business in Brazil with a minimum level of investment being USD $50,000 being required. A Guyanese can transact and conduct business in Trinidad without a visa; however a work permit would be required. In Brazil it may be necessary to hire a middleman (despachante) to navigate the maze of bureaucracy. (CIA World fact book 2012, Communicaid 2012). On the key issue of protection of property rights both Brazil and Trinidad have legal provisions for the protection of real assets and intellectual property rights, both countries having signed international agreements, however, the judiciary in Brazil is inefficient and subject to political as well as economic influence with piracy of copyright material being fairly widespread. Brazil presents a higher degree of risk due to lower levels of property rights protection. Trinidad unlike Brazil is a member of CARICOM just like Guyana which allows free trade among members. There is a free trade zone in Manaus in Brazil. Taxation in Brazil is extremely complex and not as uniform as in Trinidad. Cost of labour in both Trinidad and Brazil is higher than in Guyana but is more available. Cost of energy is cheaper in both countries relative to Guyana. (CIA World fact book 2012, Communicaid 2012). Politically and economically there are fewer challenges for DGM to expand to Trinidad as compared to Brazil, however with inflation levels and unemployment levels being almost equal and exchange rates being stable there is still a degree of attractiveness to expand to Brazil if ways around the red tape can be achieved. CULTURAL ISSUES: Cultural differences can present a variety of problems when looking to conduct business in foreign markets; from language barriers, employee behaviour and work ethic to strategic planning, it is therefore essential that entrepreneurs familiarise themselves with more than just the laws governing a society and obtain an understanding of the underlying values,norms and mores so as to be able to discern what is different and what is the same, what is acceptable and what maybe considered taboo or disrespectful. (Hill 2011) Trinidad is an English speaking Caribbean country with a diverse multi ethnic society that has fused relatively well into a distinct â€Å"Trini† culture with a mix of East Indian, African, European and American influences, religion is mainly Christian, Hinduism and Islam. Carnival is celebrated annually with Soca and Calypso music, elaborate costumes and floats, parades and beach parties over a one week period. Trinidad like Brazil is very nationalistic and proud of their country and its national symbols and flag colours. Trinidad is also a soccer crazy nation but not to the extreme as Brazil. There is a strong American influence in the way business is conducted in Trinidad which is very much alike with the way meetings and other business dealings are conducted in Guyana; however it is somewhat different in Brazil. Brazil is Portuguese speaking with a far larger population who are predominantly Roman Catholic, however just like Trinidad there is an annual Carnival and a strong soccer and beach culture since Brazil has some of the most attractive beaches on South America’s Eastern Atlantic coastline and year round sunny weather. There are more cultural issues to be considered by DGM in looking to expand to Brazil than Trinidad (CIA World fact book 2012, US Commercial Service-US Department of Commerce 2012). Brazilians do not like to discuss business during lunch whereas that would be ok in Trinidad, coffee drinking is a ritual in Brazil whereas having a semi formal meeting over beers or whiskey is normal in Trinidad. There are a few hand signals acceptable in Guyana and Trinidad like the â€Å"OK† that would be considered insulting in Brazil (Communicaid Group Ltd 2012). It would therefore be a bit more challenging from a cultural perspective for DGM to do business in Brazil as compared to Trinidad. Both countries have a well developed tourism industry with visitors from the US and Europe looking for differentiated products with unique designs, fabrics and colour. Although both countries presently have female presidents, males dominate business as such initial business meetings should be male led, but with DGM trading in the female apparel industry including a female during negotiations would be wise. Entry Strategy: Having made a decision to expand to another country the management would need to consider all the risks and decide on the timing, mode and scale of entry to be adopted (Hill, 2011). In entering a foreign market there are six modes of entry that a firm can consider each with advantages and disadvantages ranging from Exporting, Turnkey contracts,Licensing,Joint Ventures to Wholly Owned Subsidiary. (Hill 2011,p. 32) Brazil presents a more challenging environment both politically, economically and culturally but DGM should not rule out expansion into the Brazilian marketplace since the sheer size of its population and proximity to Guyana offers immense potential, however, at this time DGM should look at exporting finished products by finding a wholesale distributor with a wide network of resellers to export beachwear to and also seek to market team uniforms directly to soccer teams especially in the lower divisions and have a local representative do meetings and collect s izes and measurements etc. ith delivery being done through this intermediary but with payments being remitted by bank transfers directly to DGM. By going the export route to Brazil import tariffs would be an additional cost as opposed to having a factory in the Manaus free trade zone, as such DGM should gauge the acceptance of its offerings and then look to develop strategic alliances at the manufacturing level later on if market conditions indicate the potential for higher profitability. DGM should be prudent in its business arrangements and look to secure transactions using letters of credit until levels of trust are established. In Trinidad DGM should look to develop a joint venture with a suitable partner who has excess warehousing space suitable for establishing a garment factory thereby reducing the level of capital investment required, register its brands in Trinidad, establish a small scale factory and produce both beachwear and soccer and other sport uniforms in Trinidad and market both to the local Trinidad market and export to the distributors in Brazil and further afield. Strategic alliances would also be needed to market products across Trinidad as such a partner with appropriate channels already in place would be useful at the entry phase. A strategic alliance with a business in an unrelated industry that has excess building space would be preferred to one that is in the same industry with spare labour and machine capacity due to the risk of having that partner appropriating designs and customers. Timing of these two ventures is important, however with the slow pace at which negotiations and business dealings flow in Brazil it may be prudent to start interim talks with potential distributors at the same time as getting the joint venture arrangement and factory setup in Trinidad. Products would be differentiated in both markets according to designs and colors, more revealing beachwear is acceptable in Brazil and labeling would have to be in Portuguese as such a multi-domestic approach would be necessary with products being made specifically for each of the two markets with a slight overlap. This strategy should not be too costly given that the slight differences between products do not require different skills and machines and the designs for the Brazilian market would require less material but have the same selling price. Conclusion: The beach and athletic wear segment of the apparel market is already established in both countries, as such there is no first mover advantage to be gained, however DGM is confident that it can secure a niche by supplying an overall better quality product (stitchwork,design,fabric) at a far lower price. Brazil which has the largest potential market has relatively more political economy and cultural barriers which increase the levels of risk and possibility for failure so DGM should be cautious when expanding into this market. Trinidad on the other hand has much more political economy and cultural similarities with Guyana and this would allow for easier entry, allowing DGM to be more aggressive, which could end up solving the production capacity problems for DGM to meet the anticipated new demand when the export channels into Brazil open up which would in turn satisfy the present need for a wider market base. If both of these expansions come to fruition DGM can expect growth in demand and profitability over the long term with economic benefits accruing to each of the three countries. Bibliography: CIA World fact book, Trinidad 2012, viewed 1 October 2012, https://www. cia. gov/library/publications/the-world-factbook/geos/td. html CIA World fact book, Brazil 2012, viewed 1 October 2012, Communicaid Group Ltd. 2012, Doing Business in Brazil- Brazilian Social and Business Culture UK, London, viewed 30 September 2012 http://www. communicaid. com/access/pdf/library/culture/doing-business-in/Doing%20Business%20in%20Brazil. pdf. Devaraja, Dr. T. S 2011, Indian Textile and Garment Industry-An Overview, University of Mysore, viewed 30 September 2012 http://sibresearch. rg/uploads/2/7/9/9/2799227/working_paper_-_dr_devaraja. pdf Goinvest 2012, Denmor Garment Manufacturers: Competing in the Global Garment Industry, viewed 29 September 2012 http://www. goinvest. gov. gy/manufacturing. html Hill, CWL 2010, Global Business Today, 7th edn, McGraw Hill, Boston US Commercial Service-US Department of Commerce 2012, Doing Business In Trinidad and Tobago: A Country Commercial Guide for U. S. Companies, viewed 1 October 2012, http://trinidad. usembassy. gov/uploads/images/bLR3mH7MwdrEvCke0jB6Tw/CCG2006. pdf End of Assignment. How to cite Globalization of Enterprise, Essay examples

Case Study Healthy Hospital Staff

Question: Discuss about theCase Study for Healthy Hospital Staff. Answer: Introduction The situation has been based on how the Healthy Hospital staff was having problems related to the slow payments to their account. With the old system software, there were certain degradations and the customisations. As per the regulatory changes and the market factors with the macroeconomic conditions, there is a fall in the annual profits which has been declining from $3M in 2005 to $1M in 2010. With this, there have been vendors who complained about the slowing down of the payments. Hence, a permanent account department person was hired for a full-time. But with this, there were some suspicious large cash disbursements which were entirely uncovered by him. Hence, a proper information security needs to be installed in the systems of the hospital so that there have been no problems with the security and the virus. (Struther et al., 2015). The technology and the management control will be able to handle the employees to illustrate the professional guidance and other principle effects. Organisation Dealing Strategy with the Issues As per the analysis of the case study, it is found that there have been certain internal controls and the red flags of the fraud, detected in the information system. Considering about how Downs was interviewing Harris for becoming the assistant employee to handle the finance of the hospital. Initially, there were issues as Harris was only hired for the temporary time and so his identification and the background was not investigated. But with time, it was found that Harris has been involved in the illegal activity as his family members had a suspicious history in the hospital. (Mselle et al., 2015). Hence, a red flag came into the introduction for the implementation of the documented plan with the protection of the consumers from identification of theft. There was a discussion of nepotism issue in the financial account procedures that were directly related to the accounts payable department. With this, when the vendor was identified, there was assurance by the account payable manager for the updating of all the necessary data to make sure that there is a timely and accurate proceeding. This will help in reviewing the data file for the accuracy and the completeness. Harris was nowhere asked the questions as he was able to present his philanthropic work to the HH. (MSellet et al., 2015). The strengthening involves the changing of the attitude of the employees. The sole responsibility is to ferret the wrong doings with the breaking of the rules, personal and the professional procedures. The strengthening of the defining, clarifying and holding ownership roles and responsibilities. (Koru et al., 2016). HH needs to focus on the policies, processes and procedures view with the process that will be holding the encompassing from the different business units. (Bergstrom et al., 2015). Communication helps in the establishment of the enhanced enterprise-wide. The focus has been on the process and procedures to understand the roles where the incident occurs. Downs is mainly responsible for all the fraud that has occurred in HH. He has not been able to take a proper interview and check on his background even after keeping him as a permanent employee. Also, Smith ignored Walter acquisition of the nepotism issue in the accounts payable department. Hence, he will be considered to be the major reason of fraud in the company. (McBrider et al., 2015). An extreme ignorance could be noticed when there were certain issues related to the job which was processing under the Oracle system. Also, Tracy should be responsible for her work for processing the data to ensure the timely and the accurate processing. This has also led to the inactivity of the vendors and the problems in the complete data integrity issues. Harris has surely been a part of the fraud where there has been six cash disbursement of the authorisation forms which contained the invoice data of the vendor with the amount. Hence, the amount inputted data contain the accounting forms with the payable accounting module. With this, there was a fraud that was involved in the printing and the mailing of the physical checks to the vendors of HH. (Ojha et al., 2016). The person who allowed Harris to access the safe with some pre-signed checks is also to be blamed for the fraud. The Internal Audit Manager should be focusing on the gathering of the information which is needed mainly to identify the risks of the misstatement. The assessing of the risks is taken into account for the evaluation of the programs of the entity and the controls. The auditing committee will be able to process the utilization to identify properly, document and revaluate. With the red flag in the information system, it is possible to focus on taking appropriate ac tions with the close patterns and control operations. (Montle et al., 2015). The fraud risks could be structures through possibly identifying the schemes and then identifying the gaps which are related to this. There is a need to focus on the risks fraud assessing which will help in finding all the undetected frauds which are likely for the growth from the smaller beginning into something impactful. (McBride et al., 2015). The internal audit also contributes to the helping management with the proper understanding to ensure the preventive and the front line detective control. A code of conduct can be applied for the communication with a properly defined pattern where the training will increase the understanding of the employees along with the obligations. The decision is through the respecting the principles of the separate functions along with allowing the employees to execute the entire cycle of the transactions with properly examining the staff based on the qualifications. The identification and the authentication control of the mechanisms with the proper setup of the system will help in defining the procedures. The control mechanism will support the individual accountability and the auditing trials. (Menon, 2015). The description is based on verifying the system provided default administrative passwords. The Logical Access Controls are based on authorizing and then restricting the user activities will depend on describing the hardware and the software features. This will help in describing the control to detect all the unauthorized attempt of the transactions with the completely focus on the user activities. For the auditing, there is a need for the public access controls for the accessing of the system. This will help in controlling the problems and fraud done by Harris by changing the invoice data. (Chen, 2016). The system level or application level administrator includes the auditing trails with the applications software problem. The analysis of th e tools is based on the auditing reduction with attack signature and variance techniques. With the change in technology, there is a need to focus on the client business environment and whether the vendors are happy with their job. Also, there is a need to focus on the information technology that has been implemented with the proper software system. The services to the hospital need to include the assurance and compliance with the revenue management. The health hospital needs to focus on the revenue management with the proper development of the system where there is no chance of the fraud in accounts. In the present time, there is such software which will help in setting the exact data as per the requirement, and it cannot be changed automatically. The accessing of the pre-signed checks should also be replaced by the computerized checks or analysis, which will clearly determine the transactions. The President and the Vice President with the account payable manager need to have a proper communication about the operating procedures when it is specially related to the finance. (Chen, 2016). Conclusion HH also needs to focus on the hiring of the temporary and the permanent employees. In the present time, it is always recommendable to hire a person only after a proper checking of the background history he has. Considering the case study, if HH would have analysed Harris background, then it is sure that he would not have been appointed even as a temporary employee. Reference Struthers, C.B., Akingbule, A.S. and Obi, C.F., 2015. Illini Community Hospital Community Health Needs Assessment 2015. Mselle, L.T. and Kohi, T.W., 2015. Perceived health system causes of obstetric fistula from accounts of affected women in rural Tanzania: a qualitative study.African journal of reproductive health,19(1), pp.124-132. Bergstrm, A., Skeen, S., Duc, D.M., Blandon, E.Z., Estabrooks, C., Gustavsson, P., Hoa, D.T.P., Kllestl, C., Mlqvist, M., Nga, N.T. and Persson, L.., 2015. Health system context and implementation of evidence-based practicesdevelopment and validation of the Context Assessment for Community Health (COACH) tool for low-and middle-income settings.Implementation Science,10(1), p.1. Menon, N.M., 2015. IT-Related Spillovers between Insurers and Healthcare Providers: Implications for Medical Fraud Detection, Hospital Quality, and Subsequent IT Investments.Hospital Quality, and Subsequent IT Investments (November 16, 2015). Chen, E.T., 2016. Examining the Influence of Information Technology on Modern Health Care.Effective Methods for Modern Healthcare Service Quality and Evaluation, p.110. Gelinas, U., S. Sutton, and J. Hunton, 2015. Accounting Information Systems, Sixth Edition, South-Western College Publishing, Cincinnati, OH. McBride, S., Sobel, A. and Caton-Peters, H., 2015. Privacy and Security in a Ubiquitous Health Information Technology World.Nursing Informatics for the Advanced Practice Nurse: Patient Safety, Quality, Outcomes, and Interprofessionalism. Montle, G., Levy, R. and Rowland, M., 2015. Our Patent System and Health Care Information Technology: Valuable Incentive or Impediment to Innovation?. Ojha, M. and Mathur, K., 2016, March. Proposed application of big data analytics in healthcare at Maharaja Yeshwantrao Hospital. In2016 3rd MEC International Conference on Big Data and Smart City (ICBDSC)(pp. 1-7). IEEE. McBride, S., Sobel, A. and Caton-Peters, H., 2015. Privacy and Security in a Ubiquitous Health Information Technology World.Nursing Informatics for the Advanced Practice Nurse: Patient Safety, Quality, Outcomes, and Interprofessionalism. Koru, G., Alhuwail, D., Topaz, M., Norcio, A.F. and Mills, M.E., 2016. Investigating the challenges and opportunities in home care to facilitate effective information technology adoption.Journal of the American Medical Directors Association,17(1), pp.53-58. Mselle, L.T. and Kohi, T.W., 2015. Perceived health system causes of obstetric fistula from accounts of affected women in rural Tanzania: a qualitative study.African journal of reproductive health,19(1), pp.124-132.