What is this business simulation about?
Welcome to the NYU Wagner Healthcare Strategy Challenge.
Management simulations can be about any type of organization. In the context of healthcare management, the ability to align the social goals of an institution with its economic goals is not only a matter of sustainability, it also directly influences how well a healthcare organization serves
its community.
This is what we aim to represent in this simulation: How do we find a balance between patient experience, staff well-being, the institution’s economic viability, and its ability to serve its community?
None of these components can be overlooked. More precisely, this experience will help participants develop several critical skills. They will learn to analyze the internal capacity and external environment of healthcare organizations, using a comprehensive framework for strategic management.
To define a sustainable organizational mission and vision in the context of opportunities and threats that stem from a range of stakeholders.
To identify, develop, and choose among alternative strategies for pursuing organizational mission and vision and, for working with diverse stakeholders to achieve goals. To use data and evidence-based management practices to improve managerial decision-making and organizational performance, including efficiency, quality of care, patient engagement, and equitable access to services.
And to provide effective financial management for healthcare organizations, including effective use of accounting and budgeting practices.