Resource planning can be described as the procedure for setting aside various tasks to non-human and the human resources to get a summary of the resources that are available. Various organizations like the Caring home require a general outline of their resources and how they are managed day-to-day operations(Martin, 2009). The care home need to understand if there are adequate resources which can be used in running new projects. Management can be described as the procedure of integrating and coordinating of the funds via coordinating, organizing, planning, controlling and directing them to meet individual goals in the institution(Ridder and Baluch, 2017). About management at the care home, taking care of the patients or clients is done through planning organizing, coordinating, controlling and directions from the individuals in charge of the patients’ care(Bloom and Van Reenen, 2011).
Usually, the environment of health and social care has been established to support the efforts of the individuals within the health professionals within various disciplines and roles(Ferrer, 2018). For instance, the nurses who work attempt to coordinate with patients and family members. These family members and the patients are mostly recognized as the passive receivers of the care other than the active medical practitioners within their healthcare conditions and their lives(Health Informaton and Quality Authority, 2014). One of these rules and regulations is ensuring there is equity in providing care. This is because the clients within this environment need various attention to their cultural, social, socioeconomic and ethnic backgrounds(The Stationery Office, 2012). The everyday activities revolve around the human services hence meaning the practitioners within the area are there to help the individuals in need(Bouch, 2011).
The health and social care have an integrated service which overwhelms the efforts from the society, the physicians, nurses, psychiatrists, the family counselors, teachers, and the midwives as well(Department of Health, 2012). The community health workers are involved in assessing the behaviors of the clients and respectively make the decision the professional who should be robed in. These individuals shall link with the various professional like family counselors on a daily basis to initiate the counseling process and other medical treatment in case the need arises(Radnor, Holweg and Waring, 2012).
The outcomes can be described as the influence that impacts or produces some consequences of a given policy or a service. Concerning the NHS outcome framework, the department of consultation will get involved in setting the level s of the conducts during and after the discussion(Department of Health, 2010). As the manager in the caring home, I will be required to offer bug support to ensure the clients are receiving solid support. Also, the department shall be given the mandate to make sure the there is good progress in all matters pertaining the NHS outcome frameworks(NHS, 2015).
In order to deliver quality services, there will be the need to equip the members of the staff with some confidence. The role of the convictions is seen where an individual can share information with the other person that is the clients to the medical practitioners or the clients to the social workers(NHS Leadership Academy, 2011). This is because this is one of the requirements that has been established within the professional code of conducts which must be incorporated in the caring homes linked to the disciplinary criteria. The service users, patients and the entrusted member of the staff must be able to gather valuable information associated with the health and the other concerns of the clients within the caring home to offer the person with the right advice, treatment, and support(‘Leadership and Engagement for Improvement in the NHS???? Together We Can’, 2012). Therefore, the staff members can only achieve this through confidence and some legitimate expectations to uphold the respect of the clients. With the specific circumstances, like the mental illness, the clients may not be able to know their rights though it does not exclude the duty of confidence by the various professionals(The College of Occupational Therapists, 2013). Hence, its very critical if the various legal necessities are met to strengthen the faith of the patients towards the service givers. Thus, the NHS and the caring homes in the United Kingdom and the caring homes must offer and seen to provide confidential services to their clients(Bee et al., 2015).
The next thing to ensure the delivering of the quality services, the caring home shall engage other professional like the regulators, the researchers, clinicians, and the government policy makers to raise the quality of the facilities within the caring home(Bee et al., 2015). This professional will design and apply the indicators and the performance of various staff members as a measure of their quality services. The report from this professional will play a crucial part during the reviewing of the progress to determine the key areas that need more attention. News from the researchers will as well offer comparative information that can be used in making appropriate future decisions(Baranwal and Vidyarthi, 2014).
Effective resource management and good budgeting skills.
When an individual has been promoted to the management role, there are high chances of managing the financial resources for the first time. A few managers are trained in how to develop a budget plan especially in tracking the expenses within the organization(Sunindijo, 2015). Proper management of the financial resources should be a continuous process for any business organization including the caring home organizations(Nagendra and Deshpande, 2014). Budget management requires constant control, reporting, and monitoring which should be a key responsibility of the budget manager. It is also a responsibility of the finance and the senior management staff to take part in the budgetary procedures. Therefore, the staff members should have updated and appropriate information in budgeting processes. The staff members involved must provide a budget plan in their subject areas and hand over to the finance depart in every mid-budget year. Then the overall manager will receive the drafted budget for the approval. For the sake of managing the budget effectively, it will be wise to do the following;
Monitor the expenditures and income
Monitoring of the spending and the pay is done to ensure the resources are utilized appropriately as planned — the procedure of control or tracking the way the finances of the caring home organization in each department. It shall be a continuous process to make sure every objective set is achieved as stipulated in the budget(McCabe, 2008). The monitoring will as well help when making the decisions concerned with the budgeting issues and take the right actions when necessary. Expenditure and income require monitoring to identify the key areas that need changes. The monitoring criteria will be conducted regularly, for instance, every month or quarterly. During the follow-up, it will take into consideration the account of the budget planned within the specific year which overwhelms the income and all the expenses to date(Amanchukwu and Ololube, 2015). Then the management will try to balance the current finances and forecast what can adjusted in the future. The administration will as well consider the variations and in case there any negative or positive to take the necessary actions in rectifying them. It’s to monitor the expenses and the incomes of the organization through the regular meeting with the budget holders the higher officials within the organization since its significant for the quality of the services(Asante A, Roberts G and Hall J, 2012).
The other crucial thing is managing the expenditures and the revenue. Avoiding this step will lead to caring home spending a lot of money out of the track. To achieve this control, its important as the manager to incorporate the persons in charge of monitoring and controlling the finances in the finance department(KASIM, 2008). The available budget should then be shared with other key members of the staff. This is because various budgets will need to be monitored by multiple staff members hence the need for allocating the right people who are involved directly. For instance, these people will have engaged in approving the budget, and therefore, the various teams should be informed in advance the person who should control the expense and the income among them(MacLeod, 2016).
Training various leaders to minimize the cost within their department.
To reduce the cost in the caring home organization is one of the most effective methods in preserving the resources for the expansion. This can be achieved through appropriate management of the available resources and minimizing the costs in various departments. If every leader of each department takes his or her responsibility, it will help in adding up the considerable savings in the caring home. As a manager, there I need in making the right options when spending money on specific issues of the business organization(Long and Ismail, 2012)
Question 2
Analyze three sources of funding and their impact on this planned expansion, in the short-term, medium-term and long-term.
The source of the finances for the caring home shall come from the equity shares, term loans, and the venture funding. Such sources of fund are used in the various situation and that why they are classified based on the period, the ownership and sources of the generation(Demirgüç-Kunt and Huizinga, 2010).
The relationship between planning and management of resources and the performance of the individual, the team and the organization.
Working with an organization like the caring home which harbors some employees from diverse professionals is very difficult in keeping every individual on a similar pace. As a manager, in order to ensure the employees are developing and owning the individual objectives, I should be able to make each of them does not lose the sight of overall goals and missions(Dustmann and Schönberg, 2012). The main difficulty in aligning the performance management with the strategic plan of the organization is coordinating the individual objectives with the key objectives of the organization. This is especially experienced with the quick advancement of the technology with the evolvement of the workplace hence making the business organization find it a significant challenge to achieve actual business goals(Yu, Duan and Cao, 2013).
Performance management and planning are inextricably associated in case we want them to work together. The goals of the organization are established concerning planning procedures although they differ slightly on how the two are accomplished(Arcangeli and Crosti, 2009). The two get found through implementation from the highest office down to the juniors in the whole of the organization until each has been assigned to the individual workers. This shall be achieved in the caring home by allowing each employee to set a personal goal when doing performance planning in the performance management stage(Bogic, Njoku and Priebe, 2015). The performance management and planning within an organization comes with some benefits like creating the alignment between the overall goals set by the company and every personal goal. The other advantage is that it will help the workers to comprehend that the personal objectives and goals contribute significantly to the positive results within the caring home hence giving wok some sense(Cao et al., 2008).
The accountability and responsibility about the appropriate use of resources.
The social care and health Bills in various countries in the world have set of own reforms to govern the provision of healthcare. For instance, the house of commons Bill 2010-11 has a set of potential series of improvements for the national health services (NHS) within England which regulate the way the federal government interacts with the health care agencies(The RLBUHT NHS Trust, 2015). Such reforms are presented in the parliament to help increase the level of the financial accountability and to aid in running the systems of the healthcare smoothly. Thus, the caring home will employ these reforms in ensuring there is proper delivering, planning and handling of the financial accounts. The following methods will be used to monitor the accountability of each. Checking on the account holders which overwhelm the senior officials and other supervisors, evaluating the strengths and number of the account providers and examining the procedures of the accountability(Gaffney and McCormick, 2017).
For the organizations like caring home, the individuals involved in delivering and commissioning of the services shall provide their accountability as a sign of how they are relating to various parts of the scrutiny and system. For instance, getting away with the existing holders of multiple accounts like the primary health care trust, establishing new departments and elevating various individual’s roles to other professionals. This will help in creating new accountabilities for the service providers within the caring home organization and also facilitate the speed of how various issues are handled within the organization(Dow, 2008).
Budgetary restrictions in the current fiscal & political climate.
For the past few years, the technique has been used to contain the expenditure of the government. The primary objective of the current fiscal is depoliticizing the policymaking. Removing the restriction, it will help in achieving the government in predicting its actions(Swallow and Meinzen-dick, 2009). To ensure the fiscal, apply in the caring home they must be designed appropriately, and the political will has to agree. The research conducted recently has shown that the reduced cost of the fiscal concerning social care expenditures are relevant for many reasons. Firstly, the social care budget in many countries has increased tremendously over the past few years compared to other categories of spending. Secondly, the effect of the fiscal is as the result of depoliticized policy concept under the debate. The same can be reflected in the social care budget since the health care has been identified as the priority by the citizens. Lastly, controlling and monitoring the social care budget needs proper coordination among the stakeholders who are usually involved in creating a shortage of information(Shi, Chu and Debats, 2015).
The equity shares
Equity share will be one o the primary sources of income for caring home organization. In the whole world, Equity share has dominated the world of investments and financial management and its mostly regarded as the ordinary, stock or the percentage. This source of finance can help in impacting the caring home in long-term since it has been grouped in the long-term cause of investment since its irredeemable in its nature. For the case of caring home, these shares are entitled to the certificate of the ownership in which the residual can claim the assets of the organization during liquidation(James, Journal and Nov, 2014). The caring home as an organization has the rights of voting within the company, and their liabilities are limited to the amount of the issuing prices in the equity stocks. Thus, the organization can have an opportunity of receiving dividends from the company about the share bought by the organization. However, the equity share has got its benefits and challenges like the benefit of gaining the capital, the dividends and the limited liabilities. On the other side of the financial risk are the fluctuations associated with the stock markets which could result in financial resource losses(Elamin, 2011).
The higher purchase
The next source of the finances is the higher purchase which one of the commonly used in acquiring assets for some organizations. It will be achieved by spreading a considerable amount of funds on various assets within the organization for a longer time. Hence assisting in freeing some capital that could have been used for other purposes. Hire purchase is one of the methods used in buying goods installment as agreed with the sellers. The caring home will use this method in acquiring some of the tangible resources or even sell some of the assets which are not useful to the organization through the same process. The higher purchase, therefore, is an indispensable source of the finances for the caring home since it offers a convenient method and affordable in acquiring some of the assets which would be financially unattainable. This will help the organization to grow its economy faster other than buying the assets in cash. Although the method has its financial risks in which the caring home’s management team should quickly examine the cost and other disclosures concerning the product. For instance, there are some installment purchases which are similar to term loan but with a slight difference.
Working capital loan from the commercial banks
The starting capital loan is the economic goods organized by the company to help it fund their working capital requirements and the operation cycles. The moving sequence of any business organization can be described as the number of days taken by an organization to transform its inventory into cash(Kozan, Oksoy and Ozsoy, 2012). This can be calculated as the total number of the days needed to change the inventory commodities into the finished goods and to sell them. Many business organizations that work with the working capital loans need to find other means of funding their activities. They must depend on internal funds’ generation to facilitate the funding of the shortfalls. The working capital loans will help the caring home to arrange their finances through the third-party financiers(Bott, 2014).
Conclusion
The social care like the caring homes need to understand if there are adequate resources which can be used in expanding it projects. This can only be achieved through the management of the business organization. The management can therefore, be described as the procedure of integrating and coordinating of the funds via coordinating, organizing, planning, controlling and directing them to meet individual goals in the institution. The individuals working in such areas like the nurses should be able to coordinate with patients and family members. These family members and the patients are mostly the individuals who receives the social care directly other than the medical practitioners.
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