Business Acumen Challenges Facing Nursing Leaders

PhD by Publication


Raftery, Chris. 2022. Business Acumen Challenges Facing Nursing Leaders. PhD by Publication Doctor of Philosophy. University of Southern Queensland. https://doi.org/10.26192/x8zx9
Title

Business Acumen Challenges Facing Nursing Leaders

TypePhD by Publication
AuthorsRaftery, Chris
Supervisor
1. FirstDr Anne-Marie Sassenberg
2. SecondAnita Bamford-Wade
Institution of OriginUniversity of Southern Queensland
Qualification NameDoctor of Philosophy
Number of Pages94
Year2022
PublisherUniversity of Southern Queensland
Place of PublicationAustralia
Digital Object Identifier (DOI)https://doi.org/10.26192/x8zx9
Abstract

The provision of healthcare is a business just like any other industry, with key factors including a focus, customers, workforce, budgets and expectations. While the commodity of human health potentially modifies the approach in health, the fundamental mechanics of a healthcare business are the same, i.e. managing inputs, outputs and market forces. Despite this, for many years the delivery of healthcare has been somewhat considered outside of these basic economic principles. Front-line clinicians have the biggest roles to play in providing and influencing the day-to-day operations of the business of health, yet likely have the least knowledge of business. As we all need to understand and drive our health system reform into the future, is there renewed relevance for all clinicians at all levels to have a foundational awareness of business in health? The business acumen of clinicians is not at the forefront of everyone’s mind in the health industry. Of the limited research that is available, most only focused on a small perspective such as leadership, not aligned to the concept more broadly. Focusing on the profession of nursing, this research aimed to better understand what was already known around business acumen, as well as future opportunities to expand this knowledge. Exploratory perspectives were gained from 2 types of interviewees, into the current understanding and application of business knowledge for nursing, and how to evolve opportunities for our profession in the future. Regardless of the background of the interviewee, business was defined and therefore valued with variation through this exploratory research. Business education and training in health was not described as integrated, nor specific post-graduate programs being framed with relevance for most clinicians. This consequently leads to the need for business knowledge being an afterthought for individual nurses, as well as a reputational barrier for nursing’s inclusion in system level leadership. Improving the business acumen foundation across the nursing profession will not only raise the profile of nursing’s ability to input and influence, but better prepare our clinicians at all levels to understand the system, unlocking new potential.

KeywordsBusiness, acumen, awareness, leadership, nursing, system
Related Output
Has partBusiness acumen for nursing leaders, optional or essential in today’s health system? A discussion paper
Has partBusiness acumen for nursing leaders: A scoping review
Has partBusiness acumen for nursing leaders: An exploratory qualitative study
ANZSRC Field of Research 2020350707. Leadership
350399. Business systems in context not elsewhere classified
380108. Health economics
Public Notes

File reproduced in accordance with the copyright policy of the publisher/author.

Byline AffiliationsDepartment of Health, Queensland
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https://research.usq.edu.au/item/x8zx9/business-acumen-challenges-facing-nursing-leaders

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Related outputs

Business acumen for nursing leaders: An exploratory qualitative study
Raftery, Chris, Sassenberg, Anne-Marie and Bamford-Wade, Anita. 2022. "Business acumen for nursing leaders: An exploratory qualitative study." Journal of Nursing Management. 30 (7), pp. 2681-2688. https://doi.org/10.1111/jonm.13672
Business acumen for nursing leaders: A scoping review
Raftery, Chris, Sassenberg, Anne-Marie and Bamford-Wade, Anita. 2022. "Business acumen for nursing leaders: A scoping review." Journal of Nursing Management. 30 (4), pp. 926-935. https://doi.org/10.1111/jonm.13593
Business acumen for nursing leaders, optional or essential in today’s health system? A discussion paper
Raftery, Chris, Sassenberg, Anne-Marie and Bamford-Wade, Anita. 2021. "Business acumen for nursing leaders, optional or essential in today’s health system? A discussion paper." Collegian: The Australian Journal of Nursing Practice, Scholarship and Research. 28 (6), pp. 610-615. https://doi.org/10.1016/j.colegn.2021.08.001