Episode 3 – The Treasurer
Summary of Episode
Money talks. Without a thorough understanding of resource management, a project is unlikely to survive.
Business Model Canvas
Business plans are lengthy, complicated and vital. Difficult to write but even more difficult to envisage, sometimes a more concise way to visualise things can help. The business Model Canvas (BMC) is a one piece of landscape A4 sheet with 9 sections as can be seen below.
If you would like a more in depth explanation why not watch this youtube video with examples: https://www.youtube.com/watch?v=CakUeC1sCSs
KPIs
Key Performance Indicators (KPIs) are a set of standards/targets used to evaluate/measure the success of an organization or project. In order to work well, KPIs must be tailored to that specific project and sometimes even more specifically to the project in its current stages. They must be clearly and concisely defined based on critical or core project objectives. For example a KPI for an Amazon shop may involve customer performance metrics, but it needs to be more specific, for example x number of 5 star reviews to be achieved by x date. This is not a new method. Performance measures in industry were most likely first implemented to affect by Robert Owen in the early 1800s
Reading List
1. Business Model You: A One-Page Method For Reinventing Your Career Kindle Edition by Timothy Clark, Alexander Osterwalder and Yves Pigneur
2. Key Performance Indicators (KPI): Developing, Implementing, and Using Winning KPIs by David Parmenter
3. Woolworths: the rise and fall of the department store empire https://www.theguardian.com/business/2008/nov/19/woolworths-retail-departmentstores
Nandi Mnyama is a final-year medical student at Hull York Medical School and Scholar at the Healthcare Leadership Academy. She is also a Finance Assistant at Integritas Healthcare CIC and is on the Agenda Committee for Medical Student’s Conference at the British Medical Association
Tinaye Mopako is a fourth-year medical student at the University of Liverpool. He is currently undertaking an intercalated degree in bioethics/medical ethics
Ahmad Elmansouri is a foundation year two doctor at University Hospital Southampton. He undertakes research in medical education and is the co-founder of the Wessex Finals Revision Weekend. He is currently working in general medicine as part of the Covid-19 response.