Income StatementAnne's Beauty Salon, IncNote, Income Statements should be monthly. This Income Statement is for training purposes, ONLY!Income StatementFor the Year 2015Sales (Revenue)$ 125,000.00Cost of Sales$ 25,000.00Gross Profit$ 100,000.00Payroll Expense$ 67,500.00Sales, General, Administrative Expense$ 5,000.00Rent Expense$ 1,400.00Utilities Expense$ 1,670.00Insurance Expense$ 500.00Depreciation Expense$ 2,500.00Total Operating Expense$ 78,570.00Total Operating Income$ 21,430.00Taxes 30%$ 6,430.00Net Income$ 15,000.00 Michael LaFountain: Michael LaFountain: Rounding due to taxes. Balance SheetAnne's Beauty Salon, IncBalance SheetAt December 31, 2015AssetsLiabilitiesCurrent AssetsCurrent LiabilitiesCash$ 949.50Accounts Payable$ 5,000.00Accounts Receivable$ 11,948.00Unearned Revenue$ 200.00Supplies$ 20,500.00Total Current Liabilities$ 5,200.00Prepaid Rent$ 8,400.00Prepaid Insurance$ 6,000.00Total Current Assets$ 47,797.50Note Payable$ 15,000.00Equipment$ 25,000.00Total Liabilities$ 20,200.00Less: Accumulated Depreciation$ (5,000.00)$ 20,000.00Stockholders' EquityTotal Long-Term Assets$ 20,000.00Common Stock$ 30,000.00Retained Earnings$ 17,597.50Total Assets$ 67,797.50Total Liabilities and Stockholders' Equity$ 67,797.50 Statement of REAnne's Beauty Salon, IncStatement of Retained EarningsFor the Month Ending December 31, 2015Retained Earnings, December 1$ 5,000.00Add: Net Income$ 15,000.00Subtract: Dividends$ (2,402.50)Retained Earnings, December 31$ 17,597.50 Week 3: Philosophy, Goals, and Objectives Being clear about “why we are here” launches the process of determining the objectives and goals we want to achieve. — Michele V. Sare and LeAnn Ogilvie, Strategic Planning for Nurses: Change Management in Health Care In Week 2, you examined mission and vision as the underpinning for strategic planning. As the quote above suggests, drawing from a sound mission and vision allows the strategic planning process to proceed with the articulation of the organization’s philosophy and development of goals and objectives. This week, you continue to examine the strategic planning process, with a focus on the development of a philosophy statement, goals, and objectives for an organization. Learning Objectives Students will: · Analyze the process of developing philosophy statements · Analyze the significance of and distinctions between organizational goals and objectives · Evaluate organizational philosophy statements · Evaluate organizational goals and objectives Photo Credit: Attila Barabas/iStock/Getty Images Plus/Getty Images Learning Resources Note: To access this week’s required library resources, please click on the link to the Course Readings List, found in the Course Materials section of your Syllabus. Required Readings Cara, C. M., Nyberg, J. J., & Brousseau, S. (2011). Fostering the coexistence of caring philosophy and economics in today’s health care system. Nursi.

1. Income StatementAnne's Beauty Salon, IncNote, Income
Statements should be monthly. This Income Statement is for
training purposes, ONLY!Income StatementFor the Year
2015Sales (Revenue)$ 125,000.00Cost of Sales$
25,000.00Gross Profit$ 100,000.00Payroll Expense$
67,500.00Sales, General, Administrative Expense$
5,000.00Rent Expense$ 1,400.00Utilities Expense$
1,670.00Insurance Expense$ 500.00Depreciation Expense$
2,500.00Total Operating Expense$ 78,570.00Total Operating
Income$ 21,430.00Taxes 30%$ 6,430.00Net Income$
15,000.00
Michael LaFountain: Michael LaFountain:
Rounding due to taxes.
Balance SheetAnne's Beauty Salon, IncBalance SheetAt
December 31, 2015AssetsLiabilitiesCurrent AssetsCurrent
LiabilitiesCash$ 949.50Accounts Payable$ 5,000.00Accounts
Receivable$ 11,948.00Unearned Revenue$ 200.00Supplies$
20,500.00Total Current Liabilities$ 5,200.00Prepaid Rent$
8,400.00Prepaid Insurance$ 6,000.00Total Current Assets$
47,797.50Note Payable$ 15,000.00Equipment$
25,000.00Total Liabilities$ 20,200.00Less: Accumulated
Depreciation$ (5,000.00)$ 20,000.00Stockholders'
EquityTotal Long-Term Assets$ 20,000.00Common Stock$
30,000.00Retained Earnings$ 17,597.50Total Assets$
67,797.50Total Liabilities and Stockholders' Equity$
67,797.50
Statement of REAnne's Beauty Salon, IncStatement of Retained
EarningsFor the Month Ending December 31, 2015Retained
Earnings, December 1$ 5,000.00Add: Net Income$
15,000.00Subtract: Dividends$ (2,402.50)Retained Earnings,

2. December 31$ 17,597.50
Week 3: Philosophy, Goals, and Objectives
Being clear about “why we are here” launches the process of
determining the objectives and goals we want to achieve.
— Michele V. Sare and LeAnn Ogilvie, Strategic Planning for
Nurses: Change Management in Health Care
In Week 2, you examined mission and vision as the
underpinning for strategic planning. As the quote above
suggests, drawing from a sound mission and vision allows the
strategic planning process to proceed with the articulation of the
organization’s philosophy and development of goals and
objectives.
This week, you continue to examine the strategic planning
process, with a focus on the development of a philosophy
statement, goals, and objectives for an organization.
Learning Objectives
Students will:
· Analyze the process of developing philosophy statements
· Analyze the significance of and distinctions between
organizational goals and objectives
· Evaluate organizational philosophy statements
· Evaluate organizational goals and objectives
Photo Credit: Attila Barabas/iStock/Getty Images Plus/Getty
Images
Learning Resources
Note: To access this week’s required library resources, please
click on the link to the Course Readings List, found in the
Course Materials section of your Syllabus.
Required Readings
Cara, C. M., Nyberg, J. J., & Brousseau, S. (2011). Fostering
the coexistence of caring philosophy and economics in today’s
health care system. Nursing Administration Quarterly, 35(1), 6–
14.
Retrieved from the Walden Library databases.

3. The article addresses caring as a part of mission and philosophy
and the benefits of this for nursing satisfaction and
performance, patient satisfaction, quality of care, and cost
reduction.
Lorenzi, N. M. (2011). AMIA’s realigned strategic plan. Journal
of American Medical Informatics Association, 18(2), 203–208.
Retrieved from the Walden Library databases.
As you read this article, consider the process used to set goals
and evaluate the extent to which the identified goals are
specific, measureable, attainable, relevant, and time-bound.
Kenny, G. (2012). From the stakeholder viewpoint: Designing
measurable objectives. Journal of Business Strategy, 33(6), 40–
46.
Retrieved from the Walden Library databases.
Measurable objectives are an important part of the strategic
planning process, yet many organizations struggle with
formulating good objectives. In this article, the author suggests
strategies for developing better objectives, which will then
facilitate the planning process.
Urbanski, J., Baskel, M., & Martelli, M. (2011). Strategic
planning—A plan for excellence for South Haven Health
System. Nursing Administration Quarterly, 35(3), 227–234.
Retrieved from the Walden Library databases.
The article addresses stakeholder involvement as a key
component of South Haven Health System’s success in strategic
planning and describes how the system develops goals and
objectives.
Lloyd-Jones, D. M., Hong, Y., Labarthe, D., Mozaffarian, D.,
Appel, L. J., Van Horn, L., . . . Rosamond, W. D.
(2010). Defining and setting national goals for cardiovascular
health promotion and disease reduction: The American Heart

4. Association’s strategic impact goal through 2020 and
beyond. Retrieved
from http://circ.ahajournals.org/content/121/4/586.full.pdf+html
As you read this report, consider the process used to set goals
and evaluate the extent to which the identified goals are
specific, measureable, attainable, relevant, and time-bound.
Required Media
Laureate Education (Producer). (2013b). Case study: Mountain
View Health Center [Interactive media]. Retrieved from CDN
database. (NURS 6241)
This interactive multimedia piece presents a case study of an
organization, with information about the types of activities
performed there, organizational structure, strategic priorities,
and financial allocations. You will use this as a resource for this
week’s Discussion.
Optional Resources
Marquis, B. L., & Huston, C. J. (2015). Leadership roles and
management functions in nursing: Theory and application (8th
ed.). Philadelphia, PA: Lippincott, Williams & Wilkins.
· Chapter 7, “Strategic and Operational Planning” (pp. 138–161)
Review as needed.
Sare, M., & Ogilvie, L. (2010). Strategic planning for nurses:
Change management in health care.Sudbury, MA: Jones and
Bartlett.
· Chapter 7, “The Three Key Elements of the Strategic Planning
Process: A Vision That Guides Nursing’s Future Action” (pp.
117–143)
Review as needed, focusing on the information about goals and
objectives.

5. Kramer, M., Schmalenberg, C., & Maguire, P. (2010). Nine
structures and leadership practices essential for a magnetic
(healthy) work environment. Nursing Administration Quarterly,
34(1), 4–17.
Retrieved from the Walden Library databases.
The authors discuss the clinical environment of nursing and the
leadership practices needed to promote quality patient care
outcomes.
Discussion: Developing a Philosophy, Goals, and Objectives
As addressed in this week’s Learning Resources, an
organization’s philosophy statement derives from its mission
and indicates the values and beliefs that steer decision making.
An organization’s philosophy statement should be used to
develop goals and objectives that lead to assured action.
As effective organizations recognize, “setting specific goals in a
clear and compelling way—and insisting that people work
together to achieve them—is the best way to get results”
(Ashkenas, 2012, para. 9).
This Discussion builds on the Week 2 Discussion 2, as you
create a philosophy statement, goals, and objectives for
Mountain View Health Center, the organization featured in the
case study introduced last week.
You will continue to work within the same small group.
Note: You will develop an individual philosophy statement,
goals, and objectives independently. Through the collegial
exchange that follows, you will offer each other suggestions for
refinement.
To prepare:
· Review information on philosophy statements, goals, and
objectives in Chapter 7 of the Marquis and Huston text and in
the other Learning Resources.
· Review the Mountain View Health Center case study presented
in this week’s media, and reflect on the mission and vision

6. statements you developed for Discussion 2 in Week 2.
· Conduct additional research as necessary to strengthen your
understanding of the process for creating a philosophy
statement and developing goals and objectives and to deepen
your thinking about the organization. For instance, you may
research organizations with similarities to Mountain View and
examine their philosophy statements, goals, and objectives.
· Draft a philosophy statement for Mountain View Health
Center.
· Craft at least one goal and at least one related objective to
operationalize the philosophy.
· Consider what you have learned about the importance of the
philosophy statement and the process of developing one, as well
as the significance of and distinctions between goals and
objectives.