As the manager of a health care facility, you have been notified of your parent organization’s plan to implement a database management system beginning with your facility. List and identify the standards development process for formalizing this system. Identify the steps that you will require to initialize this system.
The next step would involve creating an action plan outlining the steps needed in order for the system implementation project to successfully launch. This should include tasks such as designing user interfaces, setting up databases and programming modules, training staff on how to use and maintain the new software, as well as other administrative tasks necessary for transitioning from one system to another (Gillespie-Lynch et al., 2019).
Once an action plan has been established it will then be necessary to create detailed documentation that describes each step of the process. This includes things like installation instructions, technical specifications for hardware/software components required by users, security protocols in place when accessing data stored within databases or systems owned by third parties (Shea et al., 2018), guidelines governing employee access rights/privileges , along with any relevant backup protocols.
Finally, before launching the new system it should undergo rigorous testing procedures which can help identify potential problems beforehand while also verifying its compliance with those aforementioned standards. These tests may include data input/output tests which measure how fast information can pass through various points within network architecture or vulnerability scans which detect holes caused by outdated software patches (Petersen & Christensen-Szalanski 2019).
he economic concept that is being displayed in this article is (Elasticity of Demand). Elasticity of demand is the responsiveness of demand to a change in the price of a good or service. To determine whether this is a inelastic or elastic demand we need to analyse the characteristics of each type of demand.
Elastic good or service will tend to have a large variety of substitutes meaning that when the price of increases the consumer has many substitutes to change to. Most of the time elastic goods or services are luxury good and a large proportion of the consumer’s income is spend on it. When measuring the elasticity of demand the equation that is utilised is: % change in quantity demanded divided by % change in price. Hence when the coefficient is greater than one then we can identify it is an elastic good.
On the AD/AS curve this could be graphed as a very flat demand curve becoming flatter the more elastic it gets up to the point where the demand curve is horizontal which indicates perfectly elastic demand. Another characteristic of elastic demand is that it is not a habit forming good or service which means that the consumer will not get addicted to it or be in need of it allowing them to respond comprehensively to a change in price.
A further concept of PED is price discrimination, which is the “microeconomic pricing strategy where the consumers are being charged different prices for the same god or service.” Businesses are able to discriminate inelastic goods and services as they know for sure that the consumers will be obligated to continue purchasing it. This discrimination often takes place on different days of the week (e.g petrol, airfares) or different times of the day (e.g Bus fares). Looking at petrol we can see that the prices are at their lowest on Tuesday and Saturday. As its regional fuel tax, different regions will have deferred tax rates which can also be considered price discrimination.
Graph 1:
This graph gives us a scenario in which relatively flat demand curve represents an elastic demand change. There is a relatively small increase in prices (20%), which resulted in a large decrease (30%) in quantity demanded. This would have occured due to a high number of substitutes to switch to. The proportionate change in quantity demanded is greater than the proportionate change in price, hence portraying how responsive elastic demand is.
Inelastic goods or services are tend to have a small to no number of substitutes in a monopolistic market and are necessities. Since it is a necessity consumers will have no ch