Evidence-Based Strategies for Effective Team Leadership to Achieve Financial Goals
Understanding organizational culture and strategic direction is pivotal for improving leadership effectiveness and achieving financial objectives. Initiatives such as upgrading lighting systems to reduce maintenance costs and implementing team-based rewards foster a conducive environment for achieving financial goals (Gresh et al., 2021). Transformational leadership styles, characterized by passion, empathy, innovation, and risk-taking, prove effective in enhancing team performance and patient satisfaction, thereby improving financial outcomes (Cabral, 2019). Consistent application of nursing leadership skills facilitates budget planning, fosters teamwork, and reduces non-labor costs, ultimately aligning organizational goals with financial performance (Beitz, 2019).
References
Beitz, J. M. (2019). The perioperative succession crisis: A cross-sectional study of clinical realities and strategies for academic nursing. Nursing Economics, 37(4), 179-197.
Cabral, A., Oram, C., & Allum, S. (2019). Developing nursing leadership talent—Views from the NHS nursing leadership for south‐east England. Journal of Nursing Management, 27(1), 75-83.
Gresh, A., LaFave, S., Thamilselvan, V., Batchelder, A., Mermer, J., Jacques, K., … & Warren, N. (2021). Service learning in public health nursing education: How COVID‐19 accelerated community‐academic partnership. Public Health Nursing, 38(2), 248-257.
Lerman, C., & Jameson, J. L. (2018). Leadership development in medicine. The New England journal of medicine, 378(20), 1862.