True business strategic planning and decision making rely on distinct organizational financial data analysis. Critical to healthcare strategic planning and implementation, financial data analysis leads to proper allocation of finances. Financial information provides an accurate picture of an organization’s condition and operating results. Utilization of financial information, such as financial metrics, are essential tools in the process of strategic benchmarking, goal setting and risk-management analysis and assessment. Financial performance ratio analysis indicates whether the company is improving or deteriorating. Financial analysis, leading to strategic development and planning, utilizes concepts and data points such as internal and external examination as found in a SWOT analysis, value-chain analysis, balanced scorecard and trending past and present financial performance.The potential for present and future success hinders on the strength of the association between organizational performance and strategic objectives.
Comprehend concepts of financial information and how decisions and strategy are based on analysis