New Economic Opportunity

Analyze the opportunities and risks relevant to your proposed economic initiative. • What are the opportunities that will be created by your proposed economic initiative? o How will these opportunities be beneficial to your care setting? • What are the risks associated with your proposed economic initiative? o 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? o How could you modify your proposed economic initiative? o How have other care settings and experts in the field dealt with similar risks? o 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? o What makes this a great opportunity for economic growth? o 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? o 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? o How would you go about ensuring this? o How would manipulating these costs potentially affect the benefits of your proposed initiative? o What are some strategies to maintain or maximize these benefits while making your proposed adjustments in costs?                                                        

Sample Solution