Problem: Prepare a paper responding to the following:
1) Explain why healthcare executives need to know the capital cycle.
2) Determine how the capital cycle impacts the operational (day-to-day) budget.
3) Explain the typical approval process for capital. Does it only go through one person (i.e., the CEO), or is it more involved? Provide examples to justify your thoughts.
4) Identify the essential characteristics of a financially successful organization. How should healthcare managers apply these traits in understanding the capital cycle of their organization?
Support your paper with a minimum of five scholarly resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.