venture planning in nursing
TRANSCRIPT
By Eko PriyantoMiddle East University 13.03.2016
PLANNING NEW VENTURE
Introduction Venture: Risky start-up or enterprise
company. Venture Planning is a personal
assessment of feelings & the feasibility of a venture.
The Venture Feasibility process examines the key factors in any venture.
Meaning
Venture refers to a risky start-up or enterprise company
•
• New ventures are business plans that gives anopportunity or chance to set up a company/business on the basis of innovative ideasIt is build upon customer driven ideas or technology
•
Key factors in venture concept planning1. Which venture concept produces the most sales,
the best margins, the highest net profit and the lowest breakeven?
2. Which model requires the least investment by entrepreneurs and others?
3. Which concept requires equity as opposed to debt financing?
4. Which produces the highest “Return on Investment" and the best liquidity?
5. Which model requires the entrepreneur to give up the least equity?
Factors in Venture Planning
1. Entrepreneurial mindset & skills2. Possible risks & dangers3. Speculations on investment yields4. Reputation status of the firm 5. Possible refutation
Process of VP
ConceptDevelopmen
t
VentureDevelopmentIdea
Venture Feasibility
Analysis
InitiatingNew MonitoringProgressChanges
Business or
Operational Plan
Budget vs. Actual/New Plans.
Process of VP
Define theproject
Do feasibility
study
Consider fiscalsponsorships
Identifying the venture impasses
Plan for physical facilities
Legal aids when necessary
Develop simple budget &
business plan
HighGrowth Business Development
ContinuesgrowthRapid
growthInitial growth
Start up
4 Keys to Good Venture Planning1. Focus on one venture at a time in one business
area at a time.2. Discover the opportunity first, and then evaluate
how exploit it.3. Develop three cases good, bad and likely for
each scenario of a venture concept.4. Identify what type of venture you want. Each type
has an entirely different model, implementation and end result. Each demands a different entrepreneurial approach and each requires different management and style.
11 Keys to a Good First VentureLifestyle of High Profit
smaller business
Founder's alignment with the mission
Guaranteed or qualified customers
Routine concept
Supportive local
environment
Neutral State and Federal Environment
Available product
Advantageous Cash Flow
EquityControl
RelevantExperience
LowOverhead
Venture Proposal Checklist
Proposal functions as an important tool in avoiding any future problems in any venturesThey help to prevent : Acting on impulses Proceeding with half-baked idea Disastrous outcomes Exposing the fear that certain facts could spoil what
may seem idea to be great.There are 2 versions– Short version– Long version
Items in The Venture Proposal Checklist
Framework of the plan Appendices, attachment etc Main issues under the key section Work program assignments based on
the framework & lists Key sections in a logical order Critiques from the advisor Summary & conclusion Evaluation strategies
Areas for VP in Nursing ServiceInstitution based care Process oriented Procedure driven Based on mechanical & manual interventionProvider driven Treatment based Reflective of late stage intervention Based on vertical clinical relationships
Areas for VP in Nursing service Mobility based on multiple settings Outcome driven Best- practice oriented Emphasized by technology and minimally
invasive intervention User driven Health based Geared for early intervention Based on horizontal clinical relationships
-Porter-O‘ Grady (2003)
Risks in new venturesMarket risks•–––
Market strength to support the ventureTrends in the marketStructure and distribution of the market competition
• Operational risk– Problems related to delivering the quality
products on customer-satisfactionFinancial risk– Changes in the financial projections/predictions
•
Resolution
of Risk
Market
Analysis&
ReviseFinancial
modelOperation
model
References
1. Jogindra Vati (2013). Principles & practice of nursing management and administration, I ed., New Delhi, Jaypee Brothers Medical publishes (P) Ltd.
2. Deepak K, Chandran S & Kumar M (2013), A comprehensive textbook on nursing management, I ed., Bangalore, Emmess Medical Publishers. 75-112
3. Booyens WS (2007), Dimensions of nursing management, II ed., Cape Town, Zebra Publishers. 137-139