Running Head: BUSINESS AND FINANCE 1

Business and Finance

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BUSINESS AND FINANCE 2

Healthcare managers are tasked with various roles in healthcare the most integral one

being the one entrusted with the management and administrative roles like gaining supplies,

overseeing profit-making mechanisms, budgeting, overseeing doctors and nurses. Given that the

healthcare managers are tasked with overseeing and administrating the healthcare facility, one of

the challenges they face is unfamiliarity in their leadership role because of training and education

challenges (Baxter et al., 2017). Healthcare leaders should develop vital professional skills and

techniques from the training they go through. There should be effective learning so that they can

learn great mechanisms to handle healthcare matters that deal with the proper administration of

the staff and proper management of resources that the healthcare facility realizes and proper use

of them to improve the quality of healthcare given. Good motivation and education programs

should be accorded to healthcare managers so that they can provide proper management and

administrative roles.

There are four forms of business organization, and one is the sole proprietorship,

corporation, Limited Liability Company and partnership. A sole proprietorship is run by an

individual who is the owner. The owner is the only one that makes the decision. Corporations are

separate entities, and they are for tax purposes and are reflected as a legal person (Cole &

Sokolyk, 2018). It means that when profits are made, they are taxed as the personal income of

the business. When there is a distribution of dividends among the owners, they are then taxed in

the personal accounts of the owners. Partnerships can be general or limited. General partnerships

both the owners are liable wholly for the business debts, and it does not require formal

agreement like the limited partnership. In a limited partnership, there is a limitation on the

business debts because of the limited liability that a partner has. Limited liability is that it offers

the owners limited liability, and at the same time giving some of the income returns of a
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partnership. Advantages of the Limited Liability Company the profits realized by the owners are

shared without double taxation. LLC also limits the liability of owners from losses and debts.

LLC disadvantages are that agreements must be complex and have wide-ranging. Another one is

that its ownership is limited by particular state laws.

Investor-owned corporations are, in most cases, run as general or limited partnerships.

Not-for-profit corporations are organized like unincorporated associations. Investor-owned are

tasked with maximizing the profits for the owners while the non-profit corporations are not

profit-driven, and they are for charity. All investor-owned corporations are governed by the state

or the government laws in which they have been incorporated. Non-profit corporations come up

with a board of directors that deals with management, and the corporation is answerable to them.

One of the principles of finance is that money has a time value. It means that if one is

given a dollar today, it would be more valuable now, than it can be in the future (Keown, 2019).

The dollar that is received today can be invested now and bring about interest in future which is

the value realized. It means that the value can increase and you receive more than the dollar

invested, which is the dollar invested and also the interest. It would be essential to invest money

that one can be having now so that it can generate interest and add value for the amount that one

has. It means that investing now can bring about growth in the amount of money ne has, and this

means that one can afford to buy more than what initially they could have bought
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References

Baxter, P. E., Hewko, S. J., Tate, K. C., McLane, P. B., Whitmore, C. A., & Cummings, G. G.

(2017). A systematic review of the factors influencing healthcare managers' engagement

in evidence-informed practice.

Cole, R. A., & Sokolyk, T. (2018, July). How do firms choose the legal form of the

organization?. In 31st Australasian Finance and Banking Conference.

Keown, A. J. (2019). Personal finance. Pearson.