Cost-cutting measures
In this assignment, you are the CFO of a hospital, and you will create a one-page memorandum detailing cost-cutting measures that will be undertaken in response to the COVID-19 (or similar) crisis. You will consider debt financing, variance analysis, and cost variances in the organization. You need to translate your analysis results into practical action steps the organizations and employees will take.
Instructions
In this one-page memorandum, you will:
- Describe the action steps the organization will take to cut costs.
- Explain the reason for the cost-cutting measures.
- Discuss the valued contributions the employees can make to make the cost-cutting measures a success.
- Describe the appreciation the organization has for the employees during this crisis.
Requirements
Memorandum should:
- Describe the action steps the organization will take to cut costs.
- Explain the reason for the cost-cutting measures.
- Discuss the valued contributions the employees can make to make the cost-cutting measures a success.
- Describes the appreciation the organization has for the employees during this crisis.
- Criterion 1: Action steps to cut costs
- Describes the action steps the organization will take to cut costs, including two or more examples.
- Criterion 2: Reasons for cost cutting measures
- Explains the reason for the cost-cutting measures, including two or more examples.
- Criterion 3: Employee Contributions
- Discusses the valued contributions the employees can make to make the cost-cutting measures a success,
including two or more examples. - Criterion 4: Employee Appreciation
- Describes the organization’s appreciation for the employees during this crisis, including two or more examples of how the organization will show that appreciation.
- Criterion 5: Writing quality
- Memo is well organized and clear; there are minimal problems with spelling, punctuation, and grammar; the document is formatted consistently throughout.
