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Liberty University BUSI 311 Quiz 3 Complete Solutions Correct Answers Key

A solved Quiz 3 for BUSI 311, covering key management concepts.

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    Liberty University BUSI 311 quiz 3 complete solutions correct answers key 5 different versions Question 1 An example of a supporting plan that is driven by the strategic plan is Question 2 What do the four letters in the PDCA Model represent? Question 3 The Baldrige Award feature 9 criteria arranged in a struture process outcome framework. Which of the following is not a strutural aspect of quality in the Baldrige Award Criteria Question 4 Why is execution of the strategy so important? Question 5 Flowcharting is a quality improvement technique used for ______. Question 6 What are the components of Strategy Execution? Question 7 Avedis Donabedian defined health care quality as having which of the following components? Question 8 Which of the following is not part of the market assessment model? Question 9 What is the purpose of an organizational dashboard? Question 10 What is the purpose of tactical plans? Question 11 During the early 1980s, the Hospital Corporation of American (HCA) created the most commonly used quality improvement framework in the health care industry ; it is called the _______. Question 12 To Err is Human examined the high rate of medical errors in the US hospitals ; such errors are due to which of the following? Question 13 Which aspect of quality does CQI focus upon to improve quality? Question 14 Within the FOCUS PDCA model, the letter U represents ____. Question 15 How can intelligence on competitors' strategies best be gathered? Question 16 Which of the following should be a major consideration in collecting leadership input to development of the strategic plan? Question 17 Which of the following quality improvement techniques helps to identify and organize the possible cause for a problem in a structured format?

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    Question 18 Which of the following is necessary for successful strategy execution? Question 19 Which of the following statements about the inclusion of key financial indicators in the planning process is true? Question 20 How do the Mission, Vision and Value statements tie to the strategic plan? Question 21 Why is it important to include past strategic performance as a part of future strategy development? Question 22 The “failure to provide a service whose benefit is greater than its risk” is the definition of which of the following terms? Question 23 Which of the following is not a critical success factor for effective strategic planning? Question 24 Whatever the quality improvement approach, what key concept(s) is/are common between each approach? Question 25 The definition of quality provided by the Institute of Medicine is the most widely accepted definition of health care quality. Which of the following are NOT parts of the definition? Question 26 What is the main purpose of strategic planning? Question 27 _______ employs a structured process called DMAIC, which stands for Define, Measure, Analyze, Improve, and Control. Question 28 Which of the following is not included in the definition of Continuous Process Improvement (CQI) Question 29 The Dartmouth Atlas of Health Care documents what aspect of health care? Question 30 The term effectiveness of clinical care can be addressed with which of the following questions?

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    Question 1 An example of a supporting plan that is driven by the strategic plan is Selected Answer: E. All of the above Question 2 What do the four letters in the PDCA Model represent? Selected Answer: C. Plan Do Check Act Question 3 The Baldrige Award feature 9 criteria arranged in a struture process outcome framework. Which of the following is not a strutural aspect of quality in the Baldrige Award Criteria Selected Answer: B. Staff Focus Question 4 Why is execution of the strategy so important? Selected Answer: C. The strategic plan is useless unless it is executed appropriately. Question 5 Flowcharting is a quality improvement technique used for ______. Selected Answer: E. process mapping Question 6 What are the components of Strategy Execution? Selected Answer: E. All of the above Question 7 Avedis Donabedian defined health care quality as having which of the following components? Selected Answer: E. Both “B” and “C” Question 8 Which of the following is not part of the market assessment model? Selected Answer: D. Power of Hospitals Question 9 What is the purpose of an organizational dashboard? Selected Answer: B. To facilitate management discussion regarding execution of strategies. Question 10 What is the purpose of tactical plans? Selected Answer: A. Identify the who, what, where, when and how of implementation. Question 11 During the early 1980s, the Hospital Corporation of American (HCA) created the most commonly used quality improvement framework in the health care industry ; it is called the _______.

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    Selected Answer: C. FOCUS PDCA Model Question 12 To Err is Human examined the high rate of medical errors in the US hospitals ; such errors are due to which of the following? Selected Answer: C. Misuse Question 13 Which aspect of quality does CQI focus upon to improve quality? Selected Answer: B. Process Question 14 Within the FOCUS PDCA model, the letter U represents ____. Selected Answer: D. identifying measures, collecting data, and analyzing it Question 15 How can intelligence on competitors' strategies best be gathered? Selected Answer: E. A & B. Question 16 Which of the following should be a major consideration in collecting leadership input to development of the strategic plan? Selected Answer: D. Input will necessarily be value laden. Question 17 Which of the following quality improvement techniques helps to identify and organize the possible cause for a problem in a structured format? Selected Answer: C. fishbone diagram Question 18 Which of the following is necessary for successful strategy execution? Selected Answer: E. A & C Question 19 Which of the following statements about the inclusion of key financial indicators in the planning process is true? Selected Answer: C. Pricing and/or rate setting arrangements should be included. Question 20 How do the Mission, Vision and Value statements tie to the strategic plan? Selected Answer: E. They are reaffirmed during the planning process to ensure they are aligned with future strategic directions. Question 21 Why is it important to include past strategic performance as a part of future strategy

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    development? Selected Answer: A. Understanding why past strategies succeeded or failed can help with future strategy success. Question 22 The “failure to provide a service whose benefit is greater than its risk” is the definition of which of the following terms? Selected Answer: A. Underuse Question 23 Which of the following is not a critical success factor for effective strategic planning? Selected Answer: C. Business plans for individual service lines. Question 24 Whatever the quality improvement approach, what key concept(s) is/are common between each approach? Selected Answer: D. All of the above (“A”, “B”, and “C”) Question 25 The definition of quality provided by the Institute of Medicine is the most widely accepted definition of health care quality. Which of the following are NOT parts of the definition? Selected Answer: D. they should provide value consistent with the cost structure of the health care organization. Question 26 What is the main purpose of strategic planning? Selected Answer: C. To identify how market forces may affect the organization. Question 27 _______ employs a structured process called DMAIC, which stands for Define, Measure, Analyze, Improve, and Control. Selected Answer: C. Six Sigma Question 28 Which of the following is not included in the definition of Continuous Process Improvement (CQI) Selected Answer: E. Structure focus Question 29 The Dartmouth Atlas of Health Care documents what aspect of health care? Selected Answer: A. Wide variation in medical practices which cannot be explained by illness severity or patient preference

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    Question 30 The term effectiveness of clinical care can be addressed with which of the following questions? Selected Answer: A. Are the right things done? Why is execution of the strategy so important? A. Without execution, none of the strategies will be funded. B. It brings in revenue. C. It helps to make all organizational stakeholders feel like part of the team. D. The strategic plan is useless unless it is executed appropriately. D. The strategic plan is useless unless it is executed appropriately. An example of a supporting plan that is driven by the strategic plan is A. Marketing plan B. Capital plan C. Operating plan D. Personnel plan E. All of the above E. All of the above Why is it important to include past strategic performance as a part of future strategy development? A. Understanding why past strategies succeeded or failed can help with future strategy success. B. Past strategic performance should NOT be included in future strategy development.

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    C. It applies historical market share to future strategies. D. It gives the best indication of the funding necessary to support the plan. E. None of the above. A. Understanding why past strategies succeeded or failed can help with future strategy success. Which aspect(s) of the SWOT analysis aim to identify external market forces? A. Organizational Assessment. B. Market Assessment C. Weaknesses.. D. Opportunities and strengths. E. None of the above. B. Market Assessment What is the department manager's role in strategic planning? A. Monitor market activity and report to senior leadership. B. Maintain knowledge of organizational strategy and intent. C. Ensure subordinates understand the organizational strategy. D. Identify ways to support the organization's strategy. E. All of the above. E. All of the above. What is the purpose of the planning assumptions in development of the organizational volume forecast? A. To fill in gaps of missing data. B. To provide a "best guess" of which service lines to invest in. C. To account for changes in technology, demographics and other market forces.

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    D. To account for competitors' future actions. E. C & D E. C & D Which of the following statements about the inclusion of key financial indicators in the planning process is true? A. Budget targets should have a margin of +/ - 5%. B. Pricing and/or rate setting arrangements should be included. C. Historical data should be included, but not forecasts since the plan has not yet been completed. D. The financial reserves of an organization need not be considered. B. Pricing and/or rate setting arrangements should be included. How do the Mission, Vision and Value statements tie to the strategic plan? A. They identify a specific future state of the organization. B. They are reaffirmed during the planning process to ensure they are aligned with future strategic directions. C. They are enduring statements of the organization's purpose. D. They help to change the organization's culture. E. They help to identify specific market opportunities and threats. B. They are reaffirmed during the planning process to ensure they are aligned with future strategic directions. What are the components of Strategy Execution? A. Monitoring and Control B. Rollout and Implementation C. Strategy Tactical Plans

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    D. Strategy Identification and Selection E. All of the above E. All of the above What is the purpose of an organizational dashboard? A. To report on the strategic plan in a simple format to the Board of Directors. B. To alert management to competitors' moves. C. To facilitate management discussion regarding execution of strategies. D. To monitor market activity for later input into the strategic planning process. E. To provide data on operations in a quick view format. C. To facilitate management discussion regarding execution of strategies. Which of the following statements is/are true? Selected Answer: CorrectC. Resource availability should be considered when selecting strategies. Answers: A. The more fiscally sound the organization, the more strategies it should execute for the best success. B. Generally, the riskiest strategies have the largest payoff. C. Resource availability should be considered when selecting strategies. D. As a rule of thumb, a well - governed organization should be able to successfully execute 4 - 6 strategies per year. E. C & D. C. Resource availability should be considered when selecting strategies. Which of the following is not a critical success factor for effective strategic planning?

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    A. Tactical plans for individual strategies. B. Business plans for individual service lines. C. All supporting plans (e.g. financial, marketing) are tied to the strategic plan. D. Communication of the plan to all stakeholders. E. Breadth and depth of leadership involvement in development of the plan. B. Business plans for individual service lines. Which of the following stakeholder groups should not be included in strategic planning? A. Senior Leadership B. Board of Trustees C. Medical Staff D. Community leaders E. All of the above should be included as appropriate E. All of the above should be included as appropriate What is the main purpose of strategic planning? A. To identify how market forces may affect the organization. B. To develop a multi - year vision for where the organization wants to be. C. To plan for expansion of key service lines. D. To adapt to the moves of competitors. A. To identify how market forces may affect the organization. Which of the following is necessary for successful strategy execution? A. Strong leadership B. Cash reserves C. Organizational buy - in D. Knowledge of competitors' strategies E. A & C

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    E. A & C Which of the following is not part of the market assessment model? A. Power of Hospitals B. Innovations in Technology C. Regulatory Environment D. Power of Consumers and Payers E. Competitive Rivalry A. Power of Hospitals Why is it important to consider Innovations in Technology in development of the strategic plan? A. New technologies tend to be expensive. B. They may represent a threat of substitute products. C. Medicare will not reimburse for them. D. A successful organization must have the latest in medical advances. E. None of the above. B. They may represent a threat of substitute products. How can intelligence on competitors' strategies best be gathered? A. Observation of their market activities. B. Tracking of their service volumes and market share. C. Checking with state healthcare associations. D. All healthcare organizations are required to file their strategies with Medicare on an annual basis. E. A & B. E. A & B. Which of the following should be a major consideration in collecting leadership input to development of the strategic plan?

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    A. Input will necessarily be value laden. B. The tenure of leadership. C. A sample size of at least 8 leaders is necessary. D. The cost of collecting the data. A. Input will necessarily be value laden. What is the purpose of tactical plans? Selected Answer: A. Identify the who, what, where, when and how of implementation. B. Organize a department's input to the strategic plan. C. Identify funding for the selected strategies. D. Monitor an organization's performance over time. E. None of the above. A. Identify the who, what, where, when and how of implementation. The term effectiveness of clinical care can be addressed with which of the following questions? A. Are the right things done? B. Are things done right? C. What are the right things to do? D. Was the clinical procedure done correctly? E. None of the above A. Are the right things done? Who introduced the concepts underlying Statistical Process Control?

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    A. W. Edwards Deming B. Joseph Juran C. Walter Shewhart D. Malcolm Baldrige E. None of the above C. Walter Shewhart The definition of quality provided by the Institute of Medicine is the most widely accepted definition of health care quality. Which of the following are NOT parts of the definition? A. they should achieve desired health outcomes for individuals, matching their preferences for variety. B. they should achieve desired health outcomes for populations, matching the societal preferences of policy makers and third - party payers for efficiency. C. they should adhere to professional standards and scientific evidence, consistent with the clinical focus and preferences of health care providers for effectiveness. D. they should provide value consistent with the cost structure of the health care organization. E. all of the above are aspects of the IOM definition of Healthcare quality. D. they should provide value consistent with the cost structure of the health care organization. Which aspect of quality does CQI focus upon to improve quality? A. Both "A" and "B" B. Structure C. Outcome D. Process E. Both "B", and "C" D. Process

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    Statitical Process Control focuses on controlling ___________. A. Variation B. Causes Processes C. Outcomes D. None of the above A. Variation "The right service is provided badly and an avoidable complication reduces the benefit the patient receives" is the definition of which of the following terms? A. Underuse B. Overuse C. Misuse D. Reuse E. None of the above C. Misuse During the early 1980s, the Hospital Corporation of American (HCA) created the most commonly used quality improvement framework in the health care industry; it is called the _______. Selected Answer: CorrectE. FOCUS - PDCA Model Answers: A. Juran Triology B. Process Life Cycle C. PDCA Model D. Shewhart or Deming Cycle E. FOCUS - PDCA Model E. FOCUS - PDCA Model Which of the following is not included in the definition of Continuous Process Improvement (CQI) A. Organization - wide impact

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