Business acumen for nursing leaders, optional or essential in today’s health system? A discussion paper

Raftery, Chris and 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.


Abstract

Background

Over the last number of years, the healthcare system has become more complex in managing increasing costs and outcomes within a defined budget. To be effective through reform, especially moving forward from the COVID-19 pandemic, healthcare leaders, specifically in nursing, have an increased need for business acumen beyond traditional leadership and management principles.

Aim

This paper examines the concept of business acumen in the profession of nursing, specifically for managers and higher nurse leaders, establishing whether these skills are optional or essential.

Discussion

Nurses learn and develop broad skills in leadership and management, but less specifically about business or the broader system. With a contemporary Australian health system aiming to be more effective, nurses may require a greater level of business acumen to adequately understand the mechanics of business decision making in the system when designing care models, as well as representing the business potential of nursing in balance with clinical outcomes through reform.

Conclusion

The modern nurse, in addition to clinical skills, may need a foundational understanding of business evolving throughout their career, to maximise innovative growth across the system, in meeting the healthcare needs of our community now and into the future. Without a foundation level of business acumen and an understanding of the system across the profession, nurses may not be empowered with their full potential of being a strong voice influencing health system reform.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Additional Information: Published online: 27 August 2021. Permanent restricted access to ArticleFirst version, in accordance with the copyright policy of the publisher.
Faculty/School / Institute/Centre: Current - Faculty of Business, Education, Law and Arts - School of Business (18 Jan 2021 -)
Faculty/School / Institute/Centre: Current - Faculty of Business, Education, Law and Arts - School of Business (18 Jan 2021 -)
Date Deposited: 30 Aug 2021 02:15
Last Modified: 20 Sep 2021 05:48
Uncontrolled Keywords: nursing, leadership, business, skills, acumen, system
Fields of Research (2008): 15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150399 Business and Management not elsewhere classified
11 Medical and Health Sciences > 1110 Nursing > 111099 Nursing not elsewhere classified
Fields of Research (2020): 42 HEALTH SCIENCES > 4205 Nursing > 420599 Nursing not elsewhere classified
42 HEALTH SCIENCES > 4205 Nursing > 420505 Nursing workforce
Socio-Economic Objectives (2008): C Society > 92 Health > 9299 Other Health > 929999 Health not elsewhere classified
C Society > 92 Health > 9202 Health and Support Services > 920210 Nursing
Socio-Economic Objectives (2020): 20 HEALTH > 2004 Public health (excl. specific population health) > 200499 Public health (excl. specific population health) not elsewhere classified
20 HEALTH > 2002 Evaluation of health and support services > 200206 Health system performance (incl. effectiveness of programs)
Identification Number or DOI: https://doi.org/10.1016/j.colegn.2021.08.001
URI: http://eprints.usq.edu.au/id/eprint/43436

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