Power in the Marketplace

Power in the Marketplace

My Vendor Role Experience

Annie Moore-Cox PhD, RNWhat I hope you gain from this At least two new terms or ideas about power or business that you didnt know beforeOne example of how understanding your power in a situation will help you get something you want5/1/2015Moore-Cox2OrganizationMy Journey to a Vendor OrganizationDefinitions of PowerWhy Power MattersPower in the MarketplaceNursing's Power in the Marketplace5/1/2015Moore-Cox3My Journey from Nurse to Educator to Business Executive

5/1/2015Moore-Cox4I never wanted to be a nurseI have always had a problem with patients leaving candy and gifts for the nursesI do not volunteer my time 4Definitions of PowerAnd why nurses lack it in healthcare

5/1/2015Moore-Cox5Definitions ControlInfluenceDominationAbility to get things doneAbility to marshal resources including peopleExpert Power- influencing others through knowledge and skillsTransformative and healing power5/1/2015Moore-Cox6Nurses lack of powerTraditionally female professionWomen have not been socialized to exert powerPower often ascribed to males Power is considered antithetical to caringNurses have had difficulty acknowledging their own power5/1/2015Moore-Cox7Nurses power may arise from three components: a workplace that has the requisite structures that promote empowerment; a psychological belief in ones ability to be empowered; acknowledgement that there is power in the relationships and caring that nurses provide.Source: Manojlovich, M. (2007) , http://www.nursingworld.org/MainMenuCategories/ANAMarketplace/ANAPeriodicals/OJIN/TableofContents/Volume122007/No1Jan07/LookingBackwardtoInformtheFuture.html?css=print5/1/2015Moore-Cox8

Example of Power

5/1/2015Moore-Cox9Dr. Carol Conroy9Why Power MattersNurse leaders recognize that understanding and acknowledging power and learning to seek and wield it appropriately is critical if nurses efforts to shape their own practice and the broader health care environment are to be successful.

Source: Ponte, et. al., 2007, http://www.nursingworld.org/MainMenuCategories/ANAMarketplace/ANAPeriodicals/OJIN/TableofContents/Volume122007/No1Jan07/tpc32_316092.html

5/1/201510Moore-CoxPower in the MarketplaceOur Time has Come!

5/1/2015Moore-Cox11CommonalitiesHealthcare as businessEducation as business

Take Away #1: We all work in a vendor organization5/1/2015Moore-Cox12The Ethics of BusinessAll businesses have responsibilities to: Their customers/patients/studentsTheir employees/facultyTheir investors/stock holders/taxpayersThe public5/1/2015Moore-Cox13Can you guess whose Core Values these are?Honesty

Integrity

Respect

Perseverance

Servant LeadershipAlways tell the truth

Always keep your deals

Dont hurt anyone

Try harder than all our competitors

Care for our customers, our community, and each other5/1/2015Moore-Cox14Gallup poll from 2014: Americans have been asked to rate the honesty and ethics of various professions annually since 1990, and periodically since 1976. Nurses have topped the list each year since they were first included in 1999. 80% of respondents listed them as very highly or highly trusted. 14Profit and Loss5/1/2015Moore-Cox15Where Values Come In

5/1/2015Moore-Cox16So Why Would a Company Hire a Nurse?HonestyIntegrityTrustworthinessKnowledgeDeep understanding of customer needsAbility to listen carefully and understandPersistenceThe. Best. People. Skills. Period.Problem Solving ability

5/1/2015Moore-Cox17#1 Reason Companies Hire Nurses Our unfailing, undying, unwavering commitment to safe, quality patient care.5/1/2015Moore-Cox18Take Away #2: This is the source of our powerApplying the Lessons of the Marketplace to Your Role You can have power too!5/1/201519Moore-Cox

Source: USNEWS.comTIPS: Trends, Implications, Possibilities and SolutionsHigher EducationHealthcareDecreasing government aid$1 Trillion student loan burdenFederal government scrutiny of outcomesFor profit collegesTechnology

Pay for performance vs. fee for servicePatient centered careTechnologyThe Learning Health SystemUnsustainable costs of careBaby Boomers heading for old age5/1/2015Moore-Cox20Knowing the trends impacting your business is important. Understanding the implications those trends may have on your organization, even your business unit is vital. Considering the possibilities is your next stepone of which is always to do nothing. This is where risks and benefits come in and its always important to consider these with other people. The one who comes up with great solutions and can bolster their ideas with how they make economic sense wins!20An Example from Nursing EducationNote: Clinical and lab are not governed by clock or seat hours. Usually they are set at 2-3 hours to one credit.Note: State BONs and Hospitals specify low faculty: student ratios for clinical practice; 8:1 is avg. 5/1/2015Moore-Cox21Take Away #3: If you understand the colleges source of revenue and loss you will get a seat at the decision making table faster.Education is a business and this represents a great revenue loss with little evidence to show its value. Weve maintained low ratios in clinical because of state, agency, and accrediting mandates not because we believe they are valuable or have stood up for that.

A little story from my teaching days- a school I taught at wanted me to assume the role of chair but the pay was so low that I would have lost money because I wouldnt have been able to work per diem at my local hospital in the summer. In an argument with the provost that turned very ugly I was told that pay parity was at issue. If I were to make more than an assistant dean it would be unfair. At that moment in time the college was negotiating with a football coach to lead its new football team at a salary 3 times mine.

When I think about that now I wish that Id known then what I know now. I would have spoken with the college president, who was a visionary leader, and talked to him about making the nursing program into a revenue and growth engine for the college through streamlining processes, looking for new revenue streams with better profit margins, increasing quality to decrease the need to recruit quality students to the program thus eliminating the costs of attrition, and setting up key performance indicators for me with a bonus plan when I delivered. Would I have been compromising my integrity? No. Would I have been using the language of business to get what I wanted? Yes. 21Challenges of Working for a VendorLimited capacity for product developmentWorkforce challengesFiduciary responsibility to investors/stock holdersForever putting together business cases to get fundedCompetitive environmentPoor leadershipTravelFast paceOstracization from peersDifficulty maintaining ones own area of expertise and/or scholarship

5/1/2015Moore-Cox22Take away #4: Dont work for a vendor if you dont like to travelMyth #1- Business is inherently unethicalThe Drive for Profit outweighs all other concerns.

5/1/2015Moore-Cox23Myth #2 Nurses should avoid businessesWhen someone tries to sell you something.run.

5/1/2015Moore-Cox24Myth #3: Working for a Vendor is like going to the Dark Side

Nurse leaders employed as vendors commonly are branded with a V as in villain (Moorman, 2010)5/1/2015Moore-Cox25Myth #4: You Cant be Powerful and Care about PeopleWWFD (What Would Florence Do?)

Source: http://appsmediatama.net/tag/florence-nightingale-quotes-24-science-quotes5/1/2015Moore-Cox26Thank you!annie.moore-cox@atitesting.com5/1/201527Moore-Cox