Shouldice Hospital in Canada is widely known for one thing-hernia repair! In fact, that is the only operation it performs, and it performs a great many of them. Over the past two decades this small 90-bed hospital has averaged 7,000 operations annually. Last year, it had a record year and performed nearly 7,500 operations. A hernia repair operation at Shouldice Hospital is performed by one of the 12 full-time surgeons assisted by one of seven part-time assistant surgeons. The first operations begin at 7:30 AM each day, Monday through Friday. Surgeons generally take about one hour to prepare for and perform each hernia operation, and they operate on an average of at most four patients per day. This four patient per day limit on the average number of operations performed per surgeon has been found to be the best operating level for the hospital as it take into account time the surgeons need for patient exams and consultations, updating medical charts, writing reports, traveling to professional conferences, vacations, and other times when they are performing other duties or are not available to perform surgeries. A given surgeon may perform more than four surgeries on a given day, but the average cannot exceed four without having adverse effects on overall hospital operations. The surgeons’ day ends at 4 p.m. Although hernia repair operations are performed only five days a week, the remainder of the hospital is in operation continuously to attend to recovering patients. The below table shows the number of operations with 90 Beds (30 patients per day).Each row in the table follows the patients who checked in on a given day. The columns indicate the number of patients in the hospital on a given day. Patients check-in to the hospital the day before their operation is scheduled and stay for three days. FRIDAY SATURDAY SUNDAY MONDAY 30 TUESDAY 30 30 CHECK-IN DAY Monday Tuesday Wednesday Thursday Friday Saturday Sunday Total BEDS REQUIRED WEDNESDAY THURSDAY 30 30 30 30 30 30 30 30 30 30 30 30 30 69 99 90 90 60 30 For example, the first row of the table shows that 30 people checked in on Monday and were in the hospital for Monday, Tuesday, and Wednesday. By summing the columns of the table for Wednesday, we see that there are 90 patients staying in the hospital that day. The medical facilities at Shouldice consist of five operating rooms, a patient recovery room, a laboratory, and six examination rooms. An operation at Shouldice Hospital is performed by one of the 12 full-time surgeons assisted by one of seven part-time assistant surgeons. Surgeons generally take about one hour to prepare for and perform each hernia operation. Now look at the effect of increasing the number of beds by 50 percent. Although financial data are sketchy, an estimate from a construction company indicates that adding bed capacity would cost about $100,000 per bed. In addition, the rate charged for the hernia surgery varies between about $900 and $2,000 (U.S. dollars), with an average rate of $1,300 per operation. The surgeons are paid a flat $600 per operation. How many weeks would it take the hospital to payback its investments? (Round your answer to 1 decimal place.)

Title:

Capstone 1-3: VISION STATEMENT

Assignment:

In this assignment we will develop a vision for your company. We assume that your team is about to have a meeting to agree upon a vision for your company. This assignment is pre-work for that meeting.
As an individual (not a team), prepare a vision statement for your company. The statement should present as accurate a picture as possible for your company at the end of the simulation eight years from now. It is not important that the statement read well – that is, we are not looking for something like a polished public relations statement. A list of bullets might be best, so long as it provides clarity to all team members. It is also appropriate to say what you will not be.
Here are some questions you can reflect upon to bring your vision into focus.
1. By segment, how many products will appear in the segment?
2. What will our capacity and automation levels be in each segment?
3. How much money will we have invested by the last round?
4. What will our financial structure look like? The financial structure is everything on the right hand side of the balance sheet. Fundamentally, it summarizes how much of the assets were funded by debt holders and equity holders. You can get the financial structure you have today by looking at your “Annual Report”. On the right hand side of the Balance Sheet, you will see your financial structure in percentages. To determine what sort of structure you want, you can ask several simple questions.
a. What mix of long term debt, stock issues, and retained profits do we need to grow the company?
b. Do we want to keep profits or pay them out as dividends?
c. Do we want to pay off our debt to avoid interest payments?
d. How would we express these in percentages?. For example, 5% Accounts Payable, 0% Short Debt, 35% Long Debt, 20% Stock, 40% Retained Earnings.
5. Are we biased towards cost leadership or differentiation?
You will find a short essay on Mission and Vision statements at http://www.quickmba.com/strategy/vision. In their context, we are marginally interested in “Core values” and “Core purpose” (which are known and common to all teams), but we are keenly interested in “Visionary Goals.”