1.After your monthly review of your unit’s operational budget, you find you are over your budget for medical supplies. What steps would you take to investigate why this happened and how to correct the issue?
Answer preview
There are certain steps that are required to correct an overspent budget. First, the management of this nursing institution should reduce the time taken to review the budget. In this case, where the review was done after a month, it would be practical to do it after a fortnight. This would help the sales team to purchase the medical supplies that are required for a certain period. Doing so would allow the institution to save the money used to buy these surplus supplies (Kaplan, Jellinek, & Haas, 2018). Secondly, it would be essential if the team strictly sticks to the budget. This implies that they avoid impulse buying and engaging in transactions that could be avoided.
