Business Skills

A. FINANCIAL MANAGEMENT
 Develop and manage an annual operating budget and long-term capital expenditure plan
 Use business models for health care organizations and apply fundamental concepts of economics
 Interpret financial statements
 Manage financial resources
 Ensure the use of accurate charging mechanisms
 Educate patient care team members on financial implications of patient care decisions
 Participate in the negotiation and monitoring of contract compliance (e.g., physicians, service providers)

B. HUMAN RESOURCE MANAGEMENT
 Ensure development of educational programs to foster workforce competencies and development goals
 Participate in workforce planning and employment decisions
 Use corrective discipline to mitigate workplace behavior problems
 Evaluate the results of employee satisfaction/quality of work environment surveys
 Support reward and recognition programs to enhance performance
 Formulate programs to enhance work-life balance
 Interpret and ensure compliance with legal and regulatory guidelines
 Provide education regarding components of collective bargaining
 Promote healthful work environments
 Address sexual harassment, workplace violence, verbal and physical abuse
 Implement ergonomically sound work environments to prevent worker injury and fatigue
 Develop and implement emergency preparedness plans
 Analyze market data in relation to supply and demand
 Contribute to the development of compensation programs
 Develop and evaluate recruitment, onboarding, and retention strategies
 Develop and implement an outcome-based performance management program
 Develop and implement programs to re- educate the workforce for new roles

C. STRATEGIC MANAGEMENT
 Create the operational objectives, goals and specific strategies required to achieve the strategic outcome
 Conduct SWOT and Gap analyses
 Defend the business case for nursing
 Utilize the balanced scorecard analysis to manage change
 Evaluate achievement of operational objectives and goals
 Identify marketing opportunities
 Develop marketing strategies in collaboration with marketing experts
 Promote the image of nursing and the organization through effective media relations

D. INFORMATION MANAGEMENT AND TECHNOLOGY
 Use technology to support improvement of clinical and financial performance
 Collaborate to prioritize for the establishment of information technology resources
 Participate in evaluation of enabling technology in practice settings
 Use data management systems for decision making
 Identify technological trends, issues and new developments as they apply to patient care
 Demonstrate skills in assessing data integrity and quality
 Provide leadership for the adoption and implementation of information systems