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Fundamentals
of
Health Care
Management
Chapter One
January
Learning Objectives
• Recite the amount of Dollars flowing through
the health care industry
• Describe the importance of health care
financial management
• Explain the role and objective of health care
• Describe the twofold purpose of financial
management
Learning Objectives continued
• Recognize the category of providers
• Identify how a hospital financial administrator
operates within an annual calendar of
financial events (we are starting with January)
• Build a hospital pro forma financial statement
Financial Management
• Has its own policies and procedures
• Generally Accepted Accounting Principles are
used (GAAP)
• Procedures require estimates and
approximations based on previous experience
• In the health industry—standards represent
the ability to properly report operating results
over time as well as net assets
• Price increase a function of change in volume,
severity, and expense
What is Health Care?
• Maintenance or restoration of health of the
body or mind
• $2.6 trillion dollar industry
• From 1966-2009, health care % of GDP grew
to 17.9 %
• 314 percent increase
• US GDP in health care leads the industrialized
world
• Projections for 2015=$3 trillion
What is Management?
• For profit—maximize owners/shareholder profit
• Not for profit—produce the best possible bottom
line
• For profit— “management must administer the
assets of the enterprise in order to obtain the
greatest wealth for the owner”
• Not for profit—produce the best possible
financial outcomes while minimizing risk to the
organization
What is Financial Management?
• Strategizing the organization’s financial
direction as well as the performance of its
day-to-day financial operations
• Dual purpose
• Determine the strategic financial direction
• Manage day to day financial operations
• Sound financial aids the general manager in
carrying out their responsibilities
Financial Highly Visible and Important
Matters
• Setting prices for services
• Producing and analyzing discounts
• Recording and analyzing cost information
• Preparing and reporting financial projections
Why is Financial Management
Important?
• Primary role—broker of information
• Secondary role—reporting financial results
periodically
• If applied properly it maximizes decision
making in uncertain times
Nowicki’s 6 Major Objectives of
Health Care Financial Management
• To generate income
• To respond to regulations
• To facilitate relationships with third party
payers
• To influence method and amount of payment
• To monitor physicians
• To protect the organization’s tax status
Ridgeland Heights Medical Center
• Fictional medium-sized medical center
• Primary statistics
• 11,000 inpatient admissions out paced by
180,000 outpatient services
• Managed care reduces access to care
• Declining inpatient leaves 3 alternatives
• Steal market share
• Grow market share by providing new services
• Grow market share by recruiting new doctors
Decision Time
• Pro forma developed has projected income
• It contains a series of assumptions
• These lead to a go or no go decision
• Decision based on net present value(NVP) or
internal rate of return (IRR)
• Organization may have a “hurdle rate”
• Reflects the minimum % return on its
investment
More on Pro forma
• Volume assumptions
• Revenue assumptions
• Expense assumptions
Finance Committee and BOD calendar
• Board sets policy direction for the organization
• This is carried out by administration/managers
• Standing committees
• Specific formats for $$ information needed
• BOD financial committee has specific
authority stated in the bylaws
• Monthly financial statements
• Accounts receivable
Year End Closing
• An outside accounting firm audits the financial
books and records of the organization for the
previous year
• Very time consuming
• Multiple tasks must be completed
• Refer to Ridgeland example for details
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FundamentalsofHealth Care ManagementChapter On.docx

  • 1. Fundamentals of Health Care Management Chapter One January Learning Objectives • Recite the amount of Dollars flowing through the health care industry • Describe the importance of health care financial management • Explain the role and objective of health care • Describe the twofold purpose of financial management Learning Objectives continued • Recognize the category of providers
  • 2. • Identify how a hospital financial administrator operates within an annual calendar of financial events (we are starting with January) • Build a hospital pro forma financial statement Financial Management • Has its own policies and procedures • Generally Accepted Accounting Principles are used (GAAP) • Procedures require estimates and approximations based on previous experience • In the health industry—standards represent the ability to properly report operating results over time as well as net assets • Price increase a function of change in volume, severity, and expense What is Health Care? • Maintenance or restoration of health of the body or mind • $2.6 trillion dollar industry • From 1966-2009, health care % of GDP grew to 17.9 %
  • 3. • 314 percent increase • US GDP in health care leads the industrialized world • Projections for 2015=$3 trillion What is Management? • For profit—maximize owners/shareholder profit • Not for profit—produce the best possible bottom line • For profit— “management must administer the assets of the enterprise in order to obtain the greatest wealth for the owner” • Not for profit—produce the best possible financial outcomes while minimizing risk to the organization What is Financial Management? • Strategizing the organization’s financial direction as well as the performance of its day-to-day financial operations • Dual purpose • Determine the strategic financial direction
  • 4. • Manage day to day financial operations • Sound financial aids the general manager in carrying out their responsibilities Financial Highly Visible and Important Matters • Setting prices for services • Producing and analyzing discounts • Recording and analyzing cost information • Preparing and reporting financial projections Why is Financial Management Important? • Primary role—broker of information • Secondary role—reporting financial results periodically • If applied properly it maximizes decision making in uncertain times Nowicki’s 6 Major Objectives of Health Care Financial Management
  • 5. • To generate income • To respond to regulations • To facilitate relationships with third party payers • To influence method and amount of payment • To monitor physicians • To protect the organization’s tax status Ridgeland Heights Medical Center • Fictional medium-sized medical center • Primary statistics • 11,000 inpatient admissions out paced by 180,000 outpatient services • Managed care reduces access to care • Declining inpatient leaves 3 alternatives • Steal market share • Grow market share by providing new services • Grow market share by recruiting new doctors
  • 6. Decision Time • Pro forma developed has projected income • It contains a series of assumptions • These lead to a go or no go decision • Decision based on net present value(NVP) or internal rate of return (IRR) • Organization may have a “hurdle rate” • Reflects the minimum % return on its investment More on Pro forma • Volume assumptions • Revenue assumptions • Expense assumptions Finance Committee and BOD calendar • Board sets policy direction for the organization • This is carried out by administration/managers • Standing committees
  • 7. • Specific formats for $$ information needed • BOD financial committee has specific authority stated in the bylaws • Monthly financial statements • Accounts receivable Year End Closing • An outside accounting firm audits the financial books and records of the organization for the previous year • Very time consuming • Multiple tasks must be completed • Refer to Ridgeland example for details 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 1/7 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
  • 8. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 2/7 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 3/7 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 4/7 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or
  • 9. transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 5/7 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 6/7 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 7/7
  • 10. PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 1/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 2/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
  • 11. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 3/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 4/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 5/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
  • 12. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 6/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 7/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 8/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or
  • 13. transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 9/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 10/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf
  • 14. i/34!/4/[email protected]:0.00 1/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 2/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 3/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
  • 15. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 4/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 5/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 6/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
  • 16. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 7/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 8/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 9/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or
  • 17. transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 10/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 1/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf
  • 18. i/34!/4/[email protected]:0.00 2/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 3/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 4/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
  • 19. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 5/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 6/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 7/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
  • 20. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 8/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 9/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 10/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or
  • 21. transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 1/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 2/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf
  • 22. i/34!/4/[email protected]:0.00 3/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 4/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 5/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
  • 23. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 6/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 7/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 8/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
  • 24. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 9/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 10/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 1/10 PRINTED BY: [email protected] Printing is for personal,
  • 25. private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 2/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 3/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf
  • 26. i/34!/4/[email protected]:0.00 4/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 5/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 6/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
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  • 29. private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 3/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 4/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf
  • 30. i/34!/4/[email protected]:0.00 5/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 6/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 7/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
  • 31. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 8/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 9/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted. 1/25/2018 Business: Its Legal, Ethical, and Global Environment https://cengagebrain.vitalsource.com/#/books/9781337514392/cf i/34!/4/[email protected]:0.00 10/10 PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.