Typically used to describe government budgeting, the four-phase budget cycle also applies to small businesses that operate based on a budget. Each step or phase of the process is, in and of itself, valuable to your business. Each requires consideration of your business' expenses and how they will affect your company's profitability. Show
TipThe four phases of a budget cycle for small businesses are preparation, approval, execution and evaluation. A budget cycle is the life of a budget from creation or preparation, to evaluation. Most small businesses don’t use the term “budget cycle” but they use the process and go through each of its four phases — preparation, approval, execution and evaluation. Prepare Your BudgetThe first step of the budget process is to create it. Done right, this process starts with careful thought at the ground level. How much income is needed and what new initiatives can be started should be considered. As the small-business owner, your leadership and vision will guide what’s included and what's excluded from the budget. You’ll consider anticipated revenues; expenses for employee wages, operations and materials; and costs for any improvements you plan to make to your company. Get Your Budget ApprovedWhile the political budgeting process is a bit messy, one of its underlying principles is very meaningful for your business. Budgets aren't approved on a yes or no basis. Instead, they're the subject of debate. While, at times, the political process can distort budgetary priorities, businesses don't have to fall prey to that problem. Instead, the approval process can be an opportunity for you to step back and take another view of how your company is spending its funds. Most small-business owners handle all four phases of their budget’s cycle themselves. This is fine but don’t do it in a vacuum. Have your accountant or a trusted peer look at it before you stamp it “Approved.” Execute Your BudgetOnce a budget is approved, it’s time to implement it. Unlike the federal government, business owners like you can’t impound funds to prevent wasteful spending. But you can adjust your your business tactics to handle increases in spending or lower than expected revenues. Most of the time money comes in and goes out in accordance with the budget. A good budget isn't a limitation on what your company can spend. It's a financial embodiment of your company's strategy and tactics for the year. Evaluate Your Budget RegularlyEven the best planned budget should be reevaluated from time to time and, if need be, revised. Changes in revenue, adjustments to costs and new information about your customer base are examples of things that may require budget revisions. The government audits and evaluates spending to ensure that money is being spent lawfully. But ongoing evaluation of your business’ budget requires a wider lens. You’ll want to keep an eye on how effectively money is being spent. But what really matters in business is whether you’re operating at a profit. Think of your business’ budget as a living document that can help you define your goals. The four phases of a budget cycle provide the framework for achieving those goals. Leadership EAQsFunctional model Which model of nursing is focused on the task-oriented approach to client care? A leader has a formal position." The registered nurse is teaching a group of nursing students about leadership principles. Which statement made by a nursing student indicates the need for further teaching? Veracity The nursing manger wants to transfer a nurse to the intensive care unit (ICU) and describes the roles and responsibilities of the position in detail to the nurse. After disclosing all details, the nurse manager inquires about the nurse's decision. Which t Cultural
competence The nurse leader is teaching the staff that the health care provider continuously strives to work effectively within the cultural context of a client. Which cultural principle is the nurse leader explaining?
Modeling behavior Which actions can the mentor take to develop effective leadership qualities in the aspiring leader? Select all that apply. Complexity theory Which theory states that leaders should expand and respond to a dynamic change rather than prescribing and approaching change as a lock-step, pre-prescribed method? Great Man theory Which theory states that the leadership traits in an individual are born and not made? Management While auditing unit documents, a nurse finds some omissions. Which term best describes when the nurse meets with the staff to discuss the findings and communicates ways to achieve the desired goals? Quantum theory Which theory states that leaders act as change catalysts and innovators? Work individually Which is excluded from the competencies of nurse leader? Empowerment What is the role of the nurse executive as a leader? Flexibility Which skills would be essential for an effective nurse manager to develop and improve collaboration with others? Select all that apply. Accept responsibility for one's mistakes What are the power strategies for nursing leaders? Select all that apply. When facing trivial issues The nurse resolves a conflict with another nurse by using accommodation. In what situations is accommodation appropriate for resolving conflict? Select all that apply. Supporting the team The registered nurse (RN) is evaluating the student nurse in the aspect of leadership qualities. Which behaviors of the student nurse express emotional intelligence in leadership? Select all that apply. Focusing on the needs of all the residents in a long-term care facility Which nursing actions indicate effective implementation of systems thinking theory principle with respect to "thinking of the Big Picture"? Select all that apply. Delphi technique Which decision-making strategy involves systematic collection and summarization of opinions and judgments on a particular issue from the respondents? An environment that is rapidly changing and dynamic The chief operating officer (COO) discusses the performance of a newly appointed leader with the nursing staff. The team communicates that the practical approach of the leader fulfills the quantum theory. What type of work environment does the COO underst Emphasizing the good qualities of the staff and giving positive direction for growth A nurse leader wants to implement the principle of non-maleficence while evaluating the staff. What is an effective way to perform this action? Number of staff Which internal factors should be considered while implementing any change in an organization? Select all that apply. The nurse manager orders the direct care nurse to assist in providing tertiary care to a client. Which type of treatment would the direct care nurse be involved in? Creativity The leader encounters a situation where the nursing outcomes are unpredictable. Which attributes or approaches should the leader utilize to navigate this situation? Select all that apply. Expectancy theory Which leadership theory is being followed in a hospital if the nurse leader tells newly hired team members that they will be appreciated and rewarded if they perform well? Being sensitive to nonverbal communication The nurse, as a leader, is planning to provide information about personal hygiene to a group of clients. Which communication methods should the nurse use to talk to the clients? Select all that apply. Information power A nurse working in a medical unit finds that diabetic clients have a knowledge deficit regarding use of glucose-monitoring devices. The nurse requests that a colleague who works in the outpatient diabetic counseling department provide health teaching to t Situational-contingency theories Which theory emphasizes that leadership effectiveness depends on the executive nurse's interpersonal skills? Encouraging and developing the leadership of the new nurse The senior nurse finds that a novice nurse is mainly emphasizing leadership activities in a healthcare facility. Which action of the senior nurse indicates effective leading ability? The change will not affect your treatment A client is concerned about not receiving treatment due to a Medicare policy change. What is the accurate response of a nurse as a leader? To inspire followers During an interview for a nurse manager position, the panel asks the nurse about the primary role of a leader. Which answer provided by the nurse would be most appropriate? Explaining the reason behind the change A nurse leader wants to communicate and explain changes to hospital rules to team members. Which approaches should the nurse leader follow for effective communication? Select all that apply. Vaccinating children in school Four nurse leaders are performing different tasks. Which nurse leader's action indicates the role of the community nurse leader? Managing While serving as a leader, the nurse assists the client with planning, priority setting, and decision making. Which of Gardner's leadership tasks is the nurse putting into practice? Inspiring a shared vision Which characteristics should a nurse focus on to become an effective transformational leader? Select all that apply Maslow's theory The nurse leader finds that a client with a severe vitamin B12 deficiency is extremely fatigued and tends to fall. Which theory does the student nurse think that the nurse leader would find appropriate for prioritizing the need of the client? The members are talking and discussing with one another while writing down their ideas A nurse leader implements the nominal group technique while making decisions about a critical issue but is unable to find a proper solution. What could be the reason for the failure of technique? The nurse manager hires the student nurse she advised to work in the agency after graduation Which statement reflects the concept of "referent power" to the nurse? OVID The nurse leader is monitoring a student nurse who is accessing various databases. Which search platform should the nurse leader suggest to access a variety of databases including Cumulative Index to Nursing and Allied Health Literature (CINAHL) and MEDLI it will identify medication errors." The nursing leader is teaching the newly hired nurse about the use of an electronic medication administration record. Which statement of the newly hired nurse indicates effective learning? Role discrepancy The nursing staff of a unit is frustrated and uncomfortable with the newly appointed nurse leader. Which role transition process is involved? Time-management
skills are important for stress reduction A leader observes the direct care nurse making more frequent errors and being anxious. Which advice provided by the leader to the direct care nurse would help to manage the stress? Organizing a group of
colleagues to address organizational problems A senior nurse is teaching about leadership qualities to a new nurse. Which action of the new nurse represents his or her leadership quality? Generate an open dialogue about external and internal realities. What is the correct order of steps that should be followed by a leader to create a vision and foster major organizational transformation? Analyze the mission and culture Arrange the steps in the order that a nurse leader would implement while following the strategic marketing planning process. I will call your daughter The leader teaches the student nurse about the way to make caring visible to a client who has undergone a hip replacement surgery. Which statements made by the student nurse to the client indicate ineffective learning? Select all that apply. 22 The leader nurse is calculating the average daily census (ADC) in a 40-bed medical surgical unit, which accrued 679 client days in the month of July. What is the ADC on this unit? Record your answer using a whole number. ____________ Emotions and personality The nursing leader is giving a demo on using computerized provider order entry (CPOE) to a newly hired nurse for automatic dose calculation. The nurse leader observed that the staff nurse was not concentrating on the instructions and seemed distressed. Af Recognition Which motivator factors to inspire work performance are in accordance with the two-factor theory? Select all that apply. Identifiy How would the nurse arrange the steps in the quality improvement process to help the leader to minimize errors and achieve satisfaction on the part of the consumer of healthcare services? Inspiring the student nurse to take active participation The registered nurse (RN) finds that a student nurse is unwilling to participate in a community health literacy program conducted for clients with diabetes mellitus . Which action of the RN portrays his or her leadership ability? Assisting clients to accomplish optimal functioning The leader has planned to assist staff in order to achieve workplace unity. Which of Gardner's tasks would the leader apply in practice? Taking an active role in the work of change According to Kouzes and Posner, what key practices in transformational leadership would a nurse teach? Select all that apply. Setting program priorities Arrange the following steps of the budgeting process performance in chronological order. Assigning individual duties to different nurses and nursing students for different tasks A hospital is planning to implement the functional model of nursing. Which action performed by a nurse leader would be effective under this model? Communicating in a simple language with followers The nurse is learning about the rules of leaders. Which actions of the nurse indicate effective implementation of these rules in the profession? Select all that apply. To work on the plan implemented by the primary nurse A client with cardiac failure is admitted to the hospital. The primary nurse is unable to attend to the client. The nurse leader appoints the associate nurse in providing care to the client. Which strategy does the associate nurse implement in providing c The leader should provide specific feedback for positive performance A newly promoted nurse manager is studying the critical factors that are needed to be an effective leader according to situational-contingency theory. Which statement by the nurse manager indicates the need for further study? Select all that apply. A successful manager should take risks During an interview for the position of manager in the healthcare industry, the candidate is asked about the important qualities of a successful manager. Which responses would be appropriate? Select all that apply. Providing self-care to enhance the ability to care for clients, families, staff, and the organization Which behavior of the nurse as a leader indicates Gardner's task of renewing at an executive level? Role conflict The leader nurse noticed that a staff nurse is unable to meet the responsibilities assigned, though the staff nurse is aware of the working requirements. What is the staff nurse experiencing? Style theory During a status meeting for a research project, the project leader asks the team members for feedback. What leadership theory is represented by the action of the leader? Knowledge The leader asks the student nurse to arrange the steps of the innovation-decision process in the chronological order that would be useful for individual change. What sequence organized by the student nurse shows effective learning? Offering rewards and recognition to individuals and teams The nurse manager is evaluating different Bleich's tasks of followership performed by members of the nursing team. Which team member's action indicates incorrect implementation of Bleich's tasks of followership? What is the correct order of steps that should be followed by a leader to create a vision and foster major organizational transformation quizlet?What is the correct order of steps that should be followed by a leader to create a vision and foster major organizational transformation? Generate an open dialogue about external and internal realities. Develop a core group of change advocates. Communicate the change vision regularly and consistently.
Which Subdimension would form a part for the caring process doing for according to the Swanson's theory of caring select all that apply?*Protecting and comforting are the subdimensions of "doing for" according to the Swanson's theory of caring.
Which basic human needs belongs to the fourth level as per Maslow's hierarchy of needs select all that apply one some or all responses may be correct?Fourth level of Maslow's hierarchy of needs encompasses self-esteem needs, which involve self-confidence, usefulness, self-worth, and achievement.
Which nursing process would the nurse undertake when collecting the medical history of a client quizlet?Which nursing process would the nurse undertake when collecting the medical history of a client? *The documentation of the client's information is part of an assessment.
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