Petals Elderly Care Services

Petals Elderly Care Services

Implementation Strategy

We will begin by advertising our services to the elderly, with whom we constantly interact and serve in the community, to build our first client base. Our first clients will be the key referral sources and will be awarded through discounts. We will then use social media platforms and leaflets to advertise our services to the entire community. Our online marketing strategies will be short videos explaining our services and setup, pictures of the facility, and our contact information. The leaflets will be distributed during community events and through door-to-door marketing within the community. We will use discounts, customized services, and free physical care such as massage therapy and helping the elderly walk around the compound as our main selling points to attract and retain customers. We will also distinguish ourselves from competitors by offering flexible payment plans for our clients, given that our target customers are middle-income and immigrant elderly people who may not have insurance coverage. Our mission will be to offer the best elderly care for middle-income and immigrants in the community at affordable prices to create a safe and friendly environment for the elderly in the facility and those receiving our care from home. Our assignment writing help is at affordable prices to students of all academic levels and academic disciplines.

The nurses and healthcare providers working for our organization will be sourced from different learning institutions and training facilities in the workplace. We will partner with the learning institutions to offer student internship programs as part of our corporate social responsibility initiative. Senior nurses and caregivers will be hired through online advertisements on job platforms such as Glassdoor and Flexjobs. We will hire a human resource management firm to conduct interviews and select the right candidates for vacant positions to have the best employee team. We intend to begin with a workforce of 15 nurses and 15 caregivers. We shall create a work schedule that distinguishes the nurses and caregivers working in the facility from those who will be responding to house calls. Nurses and caregivers who will be responding to house calls will be employed part-time, and those taking care of the elderly in the facility will be hired full-time. All nurses and caregivers will be required to have the required licenses and certifications. We will also need two administrative staff to manage staff within the facility. Notably, the administrative staff will also be recruited from Flexjobs and Glassdoor. We intend to complete the hiring process within one month. We will advertise vacant positions, complete the recruitment process within the first three weeks, and then conduct an orientation program in the fourth week before officially operating.

Description of the Management Team

My business partner and I will run Petals Elderly Care Services Company as partners. My business partner will be the acting CFO, and I will be the acting CEO. The positions have been assigned based on our expertise in completing the roles and responsibilities in the two jobs. For example, I have been an executive manager in the healthcare industry for six years. I have also been running my caregiving business for the past three years. Similarly, my partner has worked as a Chief Executive Officer in the healthcare industry for five years. My main roles will be developing the organization’s objectives, guiding principles, vision and mission, policies and procedures, programs and services, providing the resources needed to sustain operations, and leading the medical staff working for the organization. The main roles of the Chief Financial Officer will be to oversee the organization’s financial activities, prepare the organization’s financial reports and forecasts, and manage the organization’s financial risks. We will also hire a nurse manager, a nurse leader, and an operations manager to ensure that operations in the facility run smoothly. The main difference between a nurse leader and a nurse manager is that a nurse leader mainly focuses on patient care, while a nurse manager focuses on nursing operations (Fitzpatrick & AlfesN, 2022). Therefore, the nurse manager will be reporting to the nurse leader.

The main roles of the nurse leader will be ensuring that the workplace is safe for the staff and patients, creating work schedules for the nurses and caregivers, ensuring that the nurses and caregivers maintain the organization’s quality of care, ensuring that the nurses and caregivers meet the organization’s expectations, and aligning the nurses and caregivers’ goals with the organization’s goals. The candidate selected to fill the nurse manager position will have a minimum of four years as a nurse manager in a nursing home. The main roles of the nurse leader will be addressing client complaints, making decisions on firing and hiring caregivers and nurses, organizing training programs to improve the skills and competencies of the nurses and caregivers in the organization, and ensuring that nurses and caregivers follow the established procedures and protocols. The candidate selected for the nurse leader position will have a minimum of five years of experience as a nurse leader in a nursing home.

Operations management is a broad area that includes controlling operations within an organization to ensure that they are completed effectively and balancing operating costs to maximize profit (De, 2013). Therefore, the main roles of the operations manager will be to create financial oversight by summarizing all operating costs, verifying staff payroll and client invoice information, and assisting the CEO in developing policies and procedures. The candidate hired to fill the operations manager position will have a minimum of five years of experience as an operations manager in the healthcare industry. All nurses will have a minimum of one year of experience. Candidates hired to fill the caregivers’ position will not be expected to have experience in the area. They will be trained once they join the organization’s workforce based on the standard of care they should provide. The organization’s organizational chart is outlined below.

Financial Projections

Revenue Projections

Expenses Projections

The main assumption made when preparing the expense projections is that expenses will increase gradually as the number of clients in the facility increases because of the need for more supplies.

Profit and Loss Projections

The profit and loss projections may change based on the changes in the economic environment. For example, inflation may increase the price of supplies, leading to high operating costs. Inflation also forces businesses to increase the price of their products and services (Forsdick, 2022). A price increase may lead to a loss of customers, especially the elderly receiving our services from their homes, thus reducing revenue. The projections will be monitored regularly to ensure the business maintains a good financial status.

References

De, F. (2013). Reliability and maintainability in operations management. Operations Management. https://doi.org/10.5772/54161.

Fitzpatrick, J. J., & AlfesN, C. M. (2022). Nurse leadership and Management: Foundations for Effective Administration. Springer Publishing Company.

Forsdick, S. (2022). As inflation soars, businesses struggle to keep costs down. Raconteur. https://www.raconteur.net/finance/as-prices-rise-businesses-struggle-to-keep-costs-down/.

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Petals Elderly Care Services

Complete the following business plan components using the same idea you identified in your Business Plan
• Implementation strategy
• Description of your management team.
• Your financial projections

This section of your business plan should be 4 pages long. Refer to your textbook and the module lectures for additional details on each section’s structure and required contents. You can also refer to the Small Business Administration site linked below.
https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan