Week 3 Flashcards
(40 cards)
What is the difference between strategic and operational thinking?
Strategic: long term, conceptual, ID key issues and opportunities, break new ground, efficacy, helicopter
Operational: immediate term, concrete, active, resolution of existing problems, routine, efficiency, hands on, on the ground perspective
What are all of these a part of: Thinking Concepts, Thinking Skills, Thinking Styles, Thinking Techniques, Thinking better to direct and manage better?
Strategic Thinking
What do all of the following describe: Reframing, Mapmaking, Use Search Questions, Ask Effective Questions?
Thinking Skills
What is group think a part of?
Thinking Concepts
What are all of these a part of: thinking about potential inconsistencies or trade offs in decision making, effective prioritization, thinking about consequences?
Thinking Techniques
What are all of these a part of: how you go about thinking / leaders’ styles / learning styles?
Thinking Styles
What is strategic planning?
The process by which an organization meets its goals. This provides a way for leaders to know when and how to take action.
What are some elements of effective strategy?
- Sustainability
- Performance Benefits
- Competitive Advantages
- Direction
- Focus
- Interconnectedness
- Criticality
What 3 things does an organizational direction involve?
Mission, vision, values
What is the formula for GDP?
GDP = C (consumption) + I (Investment) + G (Government Spending) + (X (Exports) - M (imports)
It is the measure of the value of all final goods and services produced in a given period
What is economics the study of?
- how services and goods are distributed
- how many types of services and goods are produced
- ” consumed
What is macroeconomics?
Interactions between producing, distributing, and consuming wealth which can be applied to a country or segment of biz. Ex: The national economy influences quality of life through macroeconomic policies.
What is microeconomics?
Analysis of effects of macroeconomic policies on individual industries like health care or smaller economic units like hospitals. Microeconomic principles help predict how markets will response to macroeconomic influences.
What is an economic cost? As a part of this, what is opportunity cost?
Gains and losses of production of any goods, opportunity cost: the value or cost of choosing one product over another
What is comparative advantage?
ability for a seller to make a good or service more efficiently than another activity, which can lead to specialization
this allows the seller to have less costs in production
What is the function of supply and demand?
Helps to set price
How is a surplus defined?
Having more supply than demand, can be a customer or a producer surplus.
What is the economic significance of healthcare goods being paid for by third party?
Less able to influence consumer demand directly; payment is not generally tied to value being delivered.
What factors affect demand?
Price, Time, Income, Quality, Health Status, Education, Age, Insurance
What is value in healthcare?
Value = Outcomes / Cost
What is a cost effective analysis?
An economic evaluation method that measures the cost of a program or intervention and its efficacy, e.g. flu vaccine
Can you ask about an emergency contact?
No, but you can ask who should notified in case of an emergency.
Can you ask about age in an interview?
No, but you can verify over 18 years of age.
Can you ask about someone being arrested in an interview?
No, but you can ask about a felony.
