Reference no: EM132906949 , Length: 5

Negotiating budgets and communicating financial needs to stakeholders are vital skills for nurse leaders. Given today's numerous constraints on funding and a highly competitive environment, the ability to win support for your budget proposals hinges on being able to present a compelling argument based on well-documented needs, accurate financial information, and a justifiable business case.

• This assessment provides an opportunity for you to examine the mission and goals of a health care organization, in order to justify a budget proposal. A persuasive argument requires thoughtful justification and rationale for the expenses required to support your proposal. A proposal that supports the organization's mission and goals strengthens your argument and is much more likely to get you what you need.

• In every health care organization, dollars are scarce and the budget process is carefully scrutinized at every level. Nurse leaders must be business-savvy. They must be able to make a compelling case for why every budget line item and every dollar on a budget supports the mission and goals of the unit and the organization. This means that nurse leaders must be able to think in terms of the business of health care and be able to present a business proposal or plan with thorough and thoughtful justification and rationale for expenses. The business plan should present accurate, factual data and costs, and should also be concise and clearly organized.

Question 1: How would you justify your budget to executive leaders?

Question 2: How would you link your budget to the organization's goals and objectives?

Question 3: How would you propose to meet productivity goals while staying within budget?