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Planning new venture is the essential topic for the nurses to know the path of getting transformed from Registered nurse to Nurse practitioner and from Nurse practitioner to Nurse entrepreneur. Each individual nursing personnel has unique skills to get into commerce and IT zone to empower the new branches of nursing as opportunity to build themselves by indulging into entrepreneurship.

Planning new venture is the essential topic for the nurses to know the path of getting transformed from Registered nurse to Nurse practitioner and from Nurse practitioner to Nurse entrepreneur. Each individual nursing personnel has unique skills to get into commerce and IT zone to empower the new branches of nursing as opportunity to build themselves by indulging into entrepreneurship.

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PLANNING NEW VENTURE.pptx

  1. 1. Presented By, AKASH R. GHORPADE M.Sc. Psychiatric Nurse Nursing Tutor
  2. 2. Q) WHATTHISTOPICexpects fromus? A) Change in mentality
  3. 3. Yes, Following are the already explored options emerging gradually in India:  Nurse as founder/ trusty/ chairperson of Nursing homes. Speciality units in community sector. (E.g.- Shanti nursing home for psychiatry- Aurangabad, Shantivan snehalay for Hiv clients- Ahmednagar, Nephrocare- Dialysis unit- Navi mumbai). Coaching Classes. Private Nursing bureau/ Home care agency  Nurse practitioner.
  4. 4. ❑ Specific Objectives: At the end of Seminar, group will able to, 1. define venture planning. 2. determine the purposes of planning. 3. state the principles of planning. 4. explain the planning process/ cycle 5. introduce the venture proposal checklist 6. elaborate the types of planning. 7. justify process of planned change 8. enlist types of business ownership. 9. explore the areas for venture planning in nursing service. 10. list down the steps to start-up new venture in India. 11. discuss the risks in planning new venture & their resolutions.
  5. 5. The mission of an organization describes the purpose for which that organization exists. It is an abstract tool. They contain statements of ethics, principles, and standards that are understood by workers. (E.g.- For healthcare organizations, this means providing healthcare services to maintain health, cure illness, and allay pain and suffering). The vision of an organization should be an image of the future of the organization seeks to create, it is not an abstract tool but a practical tool offering goals to be accomplished in terms that can be ultimately be assessed. It is mental prediction of the fulfillment of the organization’s success. A vision statement is sometimes considered more strategic than a mission statement.
  6. 6. Values are concepts of perceived worth or importance that drive the institution and inform its mission, vision, and goals. Examples of values are commitments, creativity, honesty, quality, respect, and caring. Values are the moral rationale for business. Value statements make employees feel proud and managers feel committed. The objectives are general parts of the planning process. They are the end- results towards which all business activities are directed. They are needed in every aspect where performance and result directly and vitally affect the survival and success of the firm. In the other words, the objective of the firm justifies its existence. policies are specific guidelines and constraints for managerial thinking on decision making on decision- making and action. Policies provide the framework within which decision makers are expected to operate while making organizational decisions. They are the basic guides to be consistent in decision- making.
  7. 7. Mission (purpose) statements Vision and values statements Objectives statements Philosophy (beliefs) statements Operational (managerial) statements Corporate Unit Department Division Evolutionof Mission,Vision,Values,Philosophy,andObjectivesof operationalplans:
  8. 8.  Planning: Planning is a process of determining the objectives of administrative effort and devising the means calculated to achieve them. – Millet.  Venture: Venture refers to a risky start-up or enterprise company. New ventures are business plans that gives an opportunity or chance to set up a company/ business on the basis of innovative ideas. It is built upon customer driven ideas or technology.  Venture Planning: It is a personal assessment of feelings & the feasibility about venture development by pre- determining the facts and resources to throughput ideas. It is a tool you can use to communicate with potential investors, bankers, partners, and employees.
  9. 9.  Entrepreneur: Entrepreneur is defined as someone who has the ability and desire to establish, administer and succeed in a startup venture along with risk entitled to it, to make profits.  Planned change: It is a change that results from a well thought- out ideas and deliberates effort to make something happen. It is the deliberate application of knowledge and skills by a leader to bring about a change. - Tappen, 1995.  Change agent: A change agent is someone who deliberately tries to bring about a change or innovation, often associated with facilitating change in an organization or institution. To some degree, change always involves the exercise of power, politics, and interpersonal influence. It is critical to understand the existing power structure when change is being contemplated.
  10. 10. 1) Planning is the first function of management. It proceeds all other functions. Therefore, the success of the organizational activities depends majorly upon its planning skills. 2) Planning leads to success. Remember the proverb “when you fail to plan, you are planning to fail”. 3) It focuses attention on the objectives or goals of the organization and their achievements. 4) It leads to economy in operation through the selection of the best possible course of action.
  11. 11. 5) It helps in controlling the activities by providing measures against which performance can be evaluated. 6) It helps in coordinating the operations of an organizations as well as consider plan embraces and unifies all the divisions in the organization. 7) Planning helps management to clarify, focus, and research their business’s or project’s development and prospects. 8) Planning provides a considered and logical framework within which a business can develop and pursue business strategies over the next three to five years. 9) Planning offers a benchmark against which actual performance can be measured and reviewed.
  12. 12. 1. Which venture concept produces the most sales, the best margins, the highest net profit and the lowest breakeven (neither profit - nor loss)? 2. Which model requires the least investment by entrepreneurs and others? 3. Which concept requires equity (value of share the company holds) as opposed to debt financing? 4. Which produces the highest “Return on Investment" and the best liquidity (values that can be exchanged for cash)? 5. Which model requires the entrepreneur to give up the least equity?
  13. 13. PRINCIPLES OF VENTURE PLANNING 1. Planning must focus on purposes. It should always be based on clearly defined objective. 2. Planning is the continuous and repeat process which includes series of steps, so continuity and flexibility should be maintained in planning cycle. 3. Planning should be simple and there should be provision for proper analysis and classification of actions. 4. In planning, there should be a good environmental, political as well as economical harmony within organization.
  14. 14. 5. Planning is hierarchical in nature and must have an organizational identification. 6. Planning should be pervasive activity covering the entire organization with all its departments, sectors, and different levels of administration, and it should be balanced. 7. Planning must be precise in its objectives, scope and nature. It should be realistic in its scope and pinpoint the expected results. 8. In planning the provision should be made to use all available resources. 9. Planning should be always documented so that all the concerned are carefully committed to the implementation of the program.
  15. 15. Idea Concept development Venture development Monitoring progress Initiating new changes Venture feasibility analysis Business or operational plan Budget v/s Actual condition and new plans Defining the project Do feasibility study Consider fiscal sponsorships Legal aids when necessary Plan for physical facilities Identifying the venture impasses Develop simple budget & business plan
  16. 16. PLANNING CYCLE Assessing planning environment Data collection and analysis Strategy formulation target setting Participatory plan formulation Plan authentication Task adaptation and plan implementation Mid- term appraisal and making correction Evaluation and replanning
  17. 17.  Venture Proposal Checklist Proposal functions as an important tool in avoiding any future problems in any ventures.  They 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.
  18. 18.  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
  19. 19. 1.Architectural planning 7.Life planning 2.Business plan 8.Marketing plan 3.Comprehensive planning 9.Urban planning 4.Event planning and production 10.Network resource planning (PERT) 5.Financial planning 11.Strategic planning (PEST & SWOT Analysis) 6.Land use planning 12.Operational planning (CRITICAL PATH)
  20. 20. What is the difference between those three? A MY NURSING HOME Short Goal: Diagnostic center Short goal: OBGY Clinic Main Goal: 2 Renowned OBGY Consultants in sector ULTIMATE GOAL: At least 50 Inpatient admissions/ month (OBGY related cases) B
  21. 21. MY ICE CREAM PARLOUR Naturals franchise A Rs/ - 5000 Neighbor C PARTNERSHIP B Rs/- 10000 RELATIVE
  22. 22. Mission and objectives Environmental scanning Strategy formulation Selecting the best alternative Strategy implementation Evaluation and control Follow- Up
  23. 23.  In strategic analysis, there are two main sub types of analysis which are to be done in order to achieve the effective working strategic plan: A. PEST analysis/ Situational analysis:  PEST analysis refers to the analysis of political, economical, social, and technological factors. PEST analysis serves as the macro- environmental analysis guidelines to build up the firm strategic analysis all together. B. SWOT analysis:  A PEST/ Situational analysis can generate a large amount of information, much of which is not particularly relevant to the strategic formulation. To make the information more manageable, it sometimes is useful to categorize the internal factors of the firm as strengths and weaknesses. Such analysis is often referred as SWOT analysis.
  24. 24. PEST analysis includes:  Company culture  Company image  Organizational structure  Key staff  Access to natural resources  Operational efficiency  Operational capacity  Brand awareness  Market share  Financial resources  Exclusive contracts  Patents and trade secrets
  25. 25.  An operational planning (OP) is a subset of strategic work plan.  Operational plan have four main questions to answer.They are; a. Where are we now? b. Where do we want to be? c. How can we get there? d. How can we measure our progress?  EXAMPLE:  Strategic plan is for 5 years.  Operational plan is for each year.  Fiscal planning is done for each operational move.  Network planning (PERT),Gantt chart and critical path will be made while planning operational plans, as an calculating part of the operation.
  26. 26. Programme evaluation and review technique (PERT) The program or (project) evaluation and review technique, commonly abbreviated PERT, is a model for project management designed to analyze and represent the tasks involved in completing a given project. It is commonly used in conjunction with the critical path method or (CPM).
  27. 27. Steps in PERT planning process
  28. 28. Estimate time (PERT) = [OT + (4× MT) + PT) ÷6]  Estimated time: (E)  Optimistic time: (O) = 20 days All 4 are estimated figures  Most likely time (M) = 30 days  Pessimistic time: (P) = 60 days 20 + (4 × 30) + 60 = 33.3 6
  29. 29. Henry Gantt, was the one on whom the chart is named as Gantt chart. A Gantt chart is a type of bar chart that illustrates a project schedule. Gantt charts illustrate the start and finish dates of the terminal elements and summary elements of a project. Terminal elements and summary elements comprises the work breakdown structure of the project. Some Gantt charts also show the dependency (i.e.; precedence network) relationship between activities. Gantt charts can be used to show current schedule status using percent- complete shadings and a vertical.
  30. 30. PLANNED CHANGE  Lewin (1951) identified 3 phases through which the change agent must proceed before a planned change becomes part of the system. These changes are; a) Unfreezing: - in this phase, the change agent unfreezes the forces that maintain a status question. It is the responsibility of the change agent- after thorough and accurate assessment- to convince the people for the need to change. It is also possible that the people themselves are discontented and aware of a need to change. b) Moving: - in this phase agent identifies plans and implements appropriate change strategies that the driving forces (that facilitates change and keep it going, e.g., new technology, management support, knowledge, competencies) exceed restraining forces (that impede the change process). Whenever possible the change should be implemented gradually. c) Refreezing: - in this phase, the change agent assists in stabilizing the system change so that it becomes integrated and remains so.
  31. 31. SUMMARY 1. VENTURE PLANNING 2. STRATEGIC PLANNING 3. OPERATIONAL PLANING ( PEST & SWOT ANALYSIS) 4. PERT & GANTT CHART & CRITICAL PATH CALCULATIONS
  32. 32. RESEARCH ARTICLE Marc Gruber, 2006. Uncovering the value of planning in new venture creation: A process and contingency perspective https://doi.org/10.1016/j.jbusvent.2006.07.001 Abstract Researchers are engaged in a major debate on the value of business planning in new venture creation. This study suggests a potential resolution by applying a process and contingency perspective. The results indicate that planning is beneficial, yet planning processes need to be governed by different planning regimes depending on the type of founding environment. In highly dynamic environments, entrepreneurs will get most value from planning when they focus on select planning activities, and speed up the planning task. In less dynamic environments, they are better of pursuing a munificent approach to planning. The analysis thus reveals a major component of theorization on business planning that has been neglected in previous discussions. As for entrepreneurship teaching and practice, the findings suggest the importance of an adaptive, “toolkit” approach to business planning. Hypotheses were developed based on information-processing and decision-making theory and were tested with an ordered profit analysis on a sample of 100 start-ups backed by venture capital.
  33. 33. BIBLIORAPHY 1. “Sunita Joseph”, ‘Nursing Administration and Management’, AITB Publication, India, page no.- 48-58. 2. “Linda Roussel with Roussel C. Swans burg”, ‘Management and Leadership for Nurse Administration’, 5th edition, Jones and Bartlett publication, page no.- 128-136. 3. “Bessie L. Marquis and Carol J. Huston”, ‘Leadership roles and Management functions in Nursing’, ‘Theory and Application’, 8th edition, Wolter Kluwer publication, page. No.- 142-146. 4. “I. Clement”, ‘Management of Nursing Services and Education’ 2nd edition, Elsevier publication, page. No.- 82-94. 5. “Manjubala Dash”, ‘Ward Management and Administration for Nurses’, Jaypee publication, page. No.- 65-72. 6. “Joginder Vati”, ‘Principles and Practice of Nursing Management and Administration for BSc and MSc Nursing’, Jaypee publication, page. No.- 128-142. 7. “Goyal. R.C” (2005), ‘hospital administration and human resource management’, 4th edition, prentice hall publication, India Pvt ltd, New Delhi, p.no: 282-292. 8. “Basavanthappa. B. T” (2003), ‘Nursing Administration’, ‘Jaypee brothers’, 1st edition, Medical publishers, New Delhi, p.no: 333-348. 9. “Luis. R” (2006), ‘Managing human resources’, 4th edition, Published by Dorthey Kindersley, India, p.no: 287-289. 10. “Eleanor. J”, (1997), ‘Effective leadership and management in nursing’, 4th edition, Addison- Wesley publishers, California, p.no:378-379. 11. www.allnursingschools.com 12. www.longwoods.com 13. www.nursingald.com 14. www.nursingworld.org

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