Review the information on capital budgets in this week’s Learning Resources.Consider why it is important for nurse managers to understand the capital budget of an organization. How are capital budgets used in your own organization (or one with which you are familiar)?Reflect on the importance of thinking strategically when developing this type of budget.Identify a new piece of equipment you would like to see purchased by the organization. Consider how knowledge of capital budgeting could influence your approach to making the request.Develop strategies for demonstrating the need for this capital expenditure that take into account both financial and emotional considerations.By Day 3Post an analysis of why it is important for nurse managers to understand principles of capital budgeting. Describe a costly new piece of equipment you would like your organization (or one with which you are familiar) to purchase. Explain strategies for demonstrating the need for this equipment to decision makers. Briefly outline how you could use financial data and emotional appeals to demonstrate the benefits of this purchase.
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