Question

you are the business manager who has been tasked with researching the financial viability of opening a satellite clinic. Identify which things you should measure to determine if you open the satellite clinic. that addresses the following: Identify 10-15 financial and nonfinancial metrics used to assess the viability of opening a satellite clinic.

From this list, select three financial and three nonfinancial metrics that are the most important and explain their significance (net revenue, demographics, customer relations). Where will you find, and how will you gather, the identified metrics you need to develop your assessment?

Be sure to identify each metric as external or internal. Provide a description for each selected metric (total of six descriptions). Depending on the data provided, how can each metric affect the plans for the new clinic? Assuming the satellite clinic will open, how will you set up a monitoring and adjustment program?

List the required steps. Why is a monitoring, evaluating, and adjusting strategy essential to overall organizational success for the new clinic? Provide two possible events that a successful monitoring program could identify and what adjustments could apply.

Answer 1

The financial metrics takes into account the factors like demand generation and revenue, slicing and dicing data. This will cover campaign, region, sales territory, channel, media.

Mom financial metrics will be quantitative measures which cannot be expressed with relation to monetary units. There are financial metrics, earnings, profit margin, average order value, and return on assets included along with measures like customer satisfaction, market share. There are other factors like category ownership, the adoption rate of new products.

The financial performance measures will include earnings or return on assets. This will be trailing measures of performances and strengths and weaknesses of the company will be included.

The non financial metrics will include future financial performance and provide an insight into the effect on the society and stakeholders. It will also focus on providing deeper insights for the workings of the business.

This will help to understand certain financial results. The important categories here will include the reputation of the company, the influence of the customer and value, competitiveness and innovation.

It is important to set up monitoring and adjustment plan for the satellite clinic. It will help for implementation of plans and fulfilling goals and objectives of the clinic effectively. It is also a useful plan for managing implementation of strategic plans