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A:
1. A hospital is planning to expand its services by adding a new wing with 50
beds and a state-of-the-art diagnostic center. The hospital has conducted a
market analysis and projected the demand and revenue for the new services.
The hospital also has estimated the capital and operating costs of the
expansion project. What is the next step in the financial strategic planning
process for the hospital?
a) Develop a financing plan to raise funds for the project
b) Conduct a sensitivity analysis to assess the impact of uncertainties on the
project
c) Evaluate the feasibility and profitability of the project using financial ratios
and indicators
d) *All of the above*
Rationale: The next step in the financial strategic planning process is to
evaluate the feasibility and profitability of the project using financial ratios
and indicators, such as net present value, internal rate of return, payback
period, break-even point, etc. The hospital also needs to develop a financing
plan to raise funds for the project from various sources, such as debt, equity,
grants, donations, etc. The hospital also needs to conduct a sensitivity
analysis to assess the impact of uncertainties on the project, such as changes
in demand, revenue, costs, interest rates, etc.
2. A primary care clinic is facing increasing competition from other providers
in its service area. The clinic has decided to adopt a differentiation strategy to
attract and retain patients by offering high-quality care and superior
customer service. The clinic has set a goal to achieve a patient
score of 90% or higher in the next year. How should the clinic align its
budgeting process with its strategic goal?
a) *The clinic should use a zero-based budgeting approach to allocate
resources based on the needs and priorities of each department andÂÂ
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