Managing Enterprise in Health and Social Care

Managing Enterprise in Health and Social harbor outNita Nathaniel travail ONEEntrepreneurs argon hoi polloi who head for the hills forward toward unsafe situations or pursuing opportunities which sepa appreciates see as threats or problems. They argon classed as founders of melodic phrasees large and sm each(prenominal) by plumping a self-employed serving or buying a shop or franchise retail outlet. They argon individuals who be innovative in nature and put their ideas into motion by creating a new return and introducing it in a food marketplace or bring about an operational qualifying in an existing transaction. They are characterised as people who are flexible non strong and that is why they are tolerant with am largeuity. They are self-confident and with a honey for what they do, they go alone out to achieve it with high levels of energy. They love emancipation and therefore loss to permit full control of all and be self-reliant Entrepreneurs usually come f rom families with the same parentage of entrepreneurs and therefore having look experience and the same desire towards creativity they innovate and start a vocation. There are several(prenominal) misconceptions about entrepreneurs like money is the report to their success, they give up a telephone line degree or they are newborn and gamblers because they are risk takers (Anthonys lecture notes, 2014).Entrepreneurship means risk taking behaviour combined with strategic thinking that creates new opportunities for people, resulting in financial and personal satisfaction rewards. lot become entrepreneurs either due to demand because of omit of employment opportunities or carry oner options or because they are expression for solution to problems or trying new, innovative ways regarding some big kindly issue like homelessness. There is a changing build in entrepreneurship. Nowadays there are much(prenominal) and more women go entrepreneurs (Anthonys lecture notes, 201 4).Small businesses are characterised as confessed and operated one by one with 500 or less employees. The changing face of technical improvement has been a blessing for entrepreneurs as most(prenominal) of the small businesses are network based. They are mostly based on family ownership which usually involves period problems and family feuds. Not all small businesses flourish. Some fail and that is due to poor financial control, fast growing pace, not sufficient commitment and lack of experience, expertise and strategic leadership. Every entrepreneurial participation or productive venture has a life cycle of three presents stock, break by and through and maturity date and each do demands dissentent managerial ways of handling it. The birth stage chiffonier be defined as a weigh for existence and survival, dealing with getting pays and customers and starting the caller-up. The breakthrough stage is moving towards growth by becoming reachable and the maturity stage deals with moving wisely with investment of resources open to flexible ideas for expansion and push growth. A new venture or business should save a object including items like an executive summary and an summary of the industry with a description of the participation, market, operations, product and services and staffing along with a marketing system and the capital to start the business, a financial backup to cross the milestones. distinguishable forms of ownership include sole ownership, partnership which could be general, limited or limited liability or a corporation or a limited liability corporation. There are different ways of securing finance for the new business either as debt or equity finance. virtue finance alternatives include angel investors, initial public offerings (IPO) and venture capitalists The conception should consecrate an attached copyright (Anthonys lecture notes, 2014).Entrepreneurial orientation is of great importance in the health and social car e business sector. It is the most changing and diverse market ever hence the train for entrepreneurship. New diseases like dementia and Alzheimers and infections like the novo virus and other bugs, all require new remedies and medication and all new innovations need risk takers to keep going till they find that one product to launch into the market. With the ever evolving technology advancement which befriends as drugs can be made faster and the production gets increased immeasurably. Some diseases which are preferably superannuated like cancer but yet do not have a cure need more innovative minds to reach out for a medication to help because without a cure more and more people are contracting it with no help in sight. The few treatments are old and not so effective and expensive. With more people needing treatment we need to find more cost effective ways. People change and so do their mint, situations, habits and needs and therefore health social care has to change to acco mmodate these needs. We deal with diverse cultural backgrounds. all the major drug companies started with entrepreneurship and are now well established. Some of them have on going changes with regards to treatment technology and the invention of new drugs and they are thriving but there are others who are not so innovative and hence are on the decline. Most hospitals are face up a crisis because people are coming with newer infections and problems and they need more space, more drugs, more finance and faster control measures which are all mutually beneficial on entrepreneurship.TASK TWOCase Study cast bungalow dispense started from humble beginnings and then taking it through change became a major player in their community and is still considering further changes to move with the changing quantify to reach higher goals. The care conjunction owners Richard Brightmore and Sarah Jordan complete that the elderly and the physically and mentally incapacitate adults in their commun ity of Wake scene of action soil wanted to maintain their independence and remain in their own homes and not in a residential care or nursing home. They motto the opportunity and moved from their office from their home into a business centre, employing exclusively 4 staff and took advantage of the all-inclusive fee, professional office environment and onsite staff life providing business advice and guidance.Gap Analysis in care literature is described as the comparison between the actual military operation and the latent coveted performance (Wikipedia, 2014). The care comp whatsoever owners understood their potential customers and keeping their requirement in mind and aligning the vision of their comp either with their customers demands changed the heraldic bearing of their company in order to reach their potential desired goal of expanding and growing and moving with the times. pest (Political, Economic, Social and Technological) abridgment is utilise as a business mea surement tool to understand the market growth or decline which in turn determines the federal agency, potential and direction of any business. Another interpretation is STEEPLED which includes all aspects Social, Technological, Economic, Environmental, Political, Legal, Ethical and Demographic. In most situations the original blighter covers all the factors. Demographic factor gets covered in the Social issue and Ethical factors could be included in two Social or political Factor. Ecological and Environmental factors could be pose under any one or all four pestilence factors depending upon their effect. A SWOT analysis is used to measure a business unit, idea or a proposition (Anthonys lecture notes 2014). The PEST analysis in this case study would include the followingThe PEST factors are external factors which answer the why, when and what questions of any business. With all the help and support from Wakefield councils managed workspace team and business advisors the company s turnover grew substantially. all(prenominal) the extra profits gave way to options of expansion in wider spheres of Day Care Centre and home care division with more employment opportunities for more local people.After getting a profile on their cigarette customers of elderly people wanting to stay in their own homes at bottom the community enjoying their independence with some outside help through care assistants the company decided to open a care agency to give the same comminutedly the direct alternative to their original business plan of opening a nursing or care home. The gap analysis tool helped the company owners to see the potential business idea and change their business plans and turn them around to fit the market. They recognised the opportunity through the profiling process of their customers. The customers are all elderly, physically and mentally disabled adults who will need some care and support depending on their exact situation which will be assessed after scr utiny of their medical records, their dungeon standards dependent on the money available to them and through what sources and other demographics of their ethnicity and background. As the elderly will be in the age group of 60 and above but the physically and mentally disabled could be in different age groups and therefore their care and support will differ significantly. The other important factor is that they want to stay in their own homes and this also would be for different reasons. Could be that they are mobile and want their independence or they want to live in their surroundings with the memories of their families. The reasons could be as varied as each individual. So Border cottage Care was born but for it to flourish the owners had to move into a business centre in order to get all the professional help and business advice and support. This move was the result of the external or pest analysis as described above. As their company grew and their contacts increased so did the ir business. They grow into other areas of care namely the day care centre and homecare division. every work done with a passion will prove to be successful and therefore as the owners of this company seem to work in alignment to its mission they are confident of the service that they provide to their clients through their highly trained staff and the training itself is provided by the council college. They already have had their first inspection and have been rated as 3 star handsome by the CQC. So this companys management knows how to use the resources that are at their disposal and to put them to the best use of their business. By the continuing of the external analysis process they are in a position to know their challengers and also they have to be one step leading of them to beat them in the business arena. They need to expand and dominate all the different areas of care in their district in order to confront to have their place in the market with a profit.Richard Bright more, director of Border Cottage Care mentioned in his speech about all these achievements and acknowledge the support they had received from the district council and hoped for its continuation for the future growth of the business. As the new additions of the day centre and providing high quality care to more local residents means recruiting more local staff. As the company is expanding so is the staff at all levels but as the head of the company the owners are now contemplating whether the senior level management staff is provide with the expertise and the extra skills required for its growth to other areas. To ensure that they have the right people in key leadership positions to take the company growth to new heights and horizons some companies turn to assessment companies who can help them evaluate the capabilities of their senior level managers. This assessment is based on mainly the SWOT analysis of their own company and comparing it with its competitors staff for its future direction and growth with the competitive advantage. agonistic advantage meaning meeting the customers needs go with lower costs and maximum customer satisfaction. For a company to observe its competitive success it is imperative for the companys managers to understand the company costs and skills it has in comparison to its competitors company. Cost differences arise due to the levels of investments in the infrastructure based on its employees skills and productivity. In the UK the NHS Direct via the meshwork was promoted to help patients get medical selective information faster through the lucre which helped them to increase their knowledge and direct their own health care (Hannagan, 2002).TASK THREEHealth and Social Care Businesses are expensive to start or to expand to keep in the market with a profit hence they need to be protected in all circumstances which is why we need insurance policies to fall on in times of need. Unforeseen circumstances or situations are all part of fooling life and we cannot always prevent them all but we can make prior arrangements to cushion the impact in the unlikely event of some occurrence beyond our immediate control. That is where the legal material of the business becomes a core and crucial part without which we could not move ahead. This legal framework revolves round insurance companies which take care of the financial side of the business after upset(prenominal) occurrences affect it. The working of an insurance company is that we have a deal with them and they charge a certain amount and if and when an unexpected occurrence does happen, they deliver the service of providing the cash for recovery and repair or whatever the terms might hold in the contract. If the business is casualty prone or any other circumstances which can be foreseen as being damaging or affecting the business negatively then the charge is higher or a premium rate is included. The insurance companies utilise the services of underwriters who help by creating matching portfolios by assessing the risks and accepting them with the factors that make them behave in similar fashion. Insurance companies need these services of underwriters to protect their own businesses from ruin or disaster (Anthonys lecture notes, 2014).Although there are some similarities between procures, Patents and denounces but all these kinds of intellectual property protections are different and serve different purposes. Copyright provides protection for the original works of authorship both published and unpublished including artistic, dramatic, literary, and musical and some others. The copyright act of 1976 gave the right to authors to make any changes that they wanted to their piece of work at any time (general information concerning indubitables, 2014), (Patten, 2008). So copyright would help medical writings and descriptions of the makeup of medicines.Patents are granted rights for inventions to their inventors excluding anyone else selli ng or importing or using that right. The patent is generally for a period of 20 years from the date of its practise (general information concerning patents, 2014), (Patten, 2008). In the health industry this is used in inventions of medicines, vaccines and look intoes.Trademark is a device, name, symbol or word used by a company to distinguish it from the others and for others from preventing them to make a confusingly similar influence (general information concerning patents, 2014), (Patten, 2008).Trademarks usually help in selecting the branded medicines as they are more effective in some cases due to continued research and are more costly. These legally enforceable agreements are important for any new business ventures but more so in the field of health care. The health care field is an historic field which has seen many a(prenominal) inventions through researches of centuries past to develop new drugs for new and complex diseases and disorders and ancestral problems. Scient ists are always working on new ideas and turning the old ones inside out to find cures to incurable maladies.REFERENCESAnthonys Lecture Notes, 2014.Wikipedia, 2014 Online.Patten, D (2008) How to market your business. 6th Ed. Kogan Page Ltd.General Information Concerning Patents, Online Report in October 2014 by the United States Patent and Trademark Office.Hannagan, T (2002) Management Concepts and Practices.3rd ed. assimilator Hall, England.