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" (Huang & Chen, 1) This characterization of using the budgetary process to play 'games' carries with it a negative connotation, which is driven by the inherently threatening implications of tying personal income to performance evaluation.
That said, budgetary clarity is among the most important features to creating and implementing an effective plan of operation in any context. This is to argue that there is never an excuse for a failure to properly budget. This is a primary purpose of accounting, which allows an organization to identify those resources and conditions at its disposal and to determine how these can be used to yield functional operation, sustainability and profitability. Though the numbers which are yielded from a projected budget cannot be used as restraints with respect to operational creativity or mutability, these should at least help to establish a plan of action; anticipate certain milestones in the execution of the plan; to project a time line based on projected expenses and revenue; and to use these figures to approximate how close an organization is to its goals and ambitions. The budget will be a key instrument in identifying long-term goals while simultaneously tracking short-term goals.
There are still likely to be negative outcomes, especially were budgetary processes are inevitably tied to the income of individual team members. In such instances, negative periods in the budgetary life of an organization will have a distinct impact on the attitude and moral of workers. Therefore, the correlation between...
The budget must, above all else, be seen as a foundational instrument to understanding an organization's fiscal and practical status that is subject to alteration and flexibility within the context of the real-world business environment.
Works Cited:
Hope, T. (1997). Competing in the Third Wave. Harvard Business Press.
Huang, C. & Chen, M. (2008). Relationships among budgetary leadership behavior, managerial budgeting games, and budgetary attitudes: Evidence from Taiwanese corporations. ScienceDirect. Online at http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6W58-4VDSJS0-2&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&_docanchor=&view=c&_searchStrId=987186959&_rerunOrigin=google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=570424efa71791707f3c9fc21199de67
Walker, K.B. & Johnson, E.N. (1999). The effects of a budget-based incentive compensation scheme on the budgeting behavior of managers and subordinates. Journal of Management Accounting Research 11, 1-28.
Works Cited:
Hope, T. (1997). Competing in the Third Wave. Harvard Business Press.
Huang, C. & Chen, M. (2008). Relationships among budgetary leadership behavior, managerial budgeting games, and budgetary attitudes: Evidence from Taiwanese corporations. ScienceDirect. Online at http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6W58-4VDSJS0-2&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&_docanchor=&view=c&_searchStrId=987186959&_rerunOrigin=google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=570424efa71791707f3c9fc21199de67
Walker, K.B. & Johnson, E.N. (1999). The effects of a budget-based incentive compensation scheme on the budgeting behavior of managers and subordinates. Journal of Management Accounting Research 11, 1-28.
As the road is being laid the fumes from the chemical materials and the concussive force of the construction equipment are devastating to local wildlife (Forman & Alexander, 1998). The result, is displaced organisms which ultimately put increased pressure for food, land, and water on other ecosystems. The extent of these ripple effects are still yet to be fully known. In instances where above or below ground water supplies must
I would suggest therefore that the authors work towards a practical output. Their underlying assumptions about the nature of capital budgeting for research and development projects are strong, but their output is unwieldy. Coming from the perspective of someone who would be engaged in the capital budgeting exercise, I would want to have a model to which I assign my staff and expect a useable result. Interestingly, the authors appear to
Through the role of the principal, we can consider a number of differing approaches to educational leadership and how they manifest in light of today's most pressing challenges. Considering Transformational Leadership, Political Leadership and Strategic Leadership, we will establish a greater understanding of the value in this diversity of perspective. Such diversity is necessary because of the principal's unique role in both the lives of teachers and students, serving simultaneously
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Since institutional investors typically hedge their risks by using asset liability management and derivatives instruments against market risk, it is estimated that institutional investors in a representative stock market such as the London Stock Exchange lost only 10% of the value of their assets in the 1987 crash. In the absence of such hedging the effect of the crash and the resultant liquidity crunch would have been far greater.
Williams Case Settlement Mr. Governor, our youth represents our state's future - addressing and correcting the discrepancies that will be addressed in this memo should be a main priority and maybe even the ultimate objective of the Williams Class action lawsuit educational budget adjustments. The Courts have spoken and have obviously concurred that the California Educational System has been broken for quite some time and is in need of serious financial