1000 results for “Budget Management”.
Budget management analysis is used by mangers as a tool and helps determine that all resources available are being used efficiently. The budgets are determined yearly and are based upon the previous year's budget and variances. This paper will discuss specific strategies to manage budgets within forecast, compare five to seven expense results with budget expectations, describe possible reasons for variances, give strategies to keep results aligned with expectations, recommend three benchmarking techniques, and identify those that might improve budget accuracy, and justify the choices made.
Strategies to Manage Budgets
Many strategies may be used to control budgets; managers and the chief financial officer of most healthcare organizations have the tools needed to manage the budget. By managing the budget the organization will be better prepared for the financial forecasts, which are the company's future expenses. Some strategies and tools that will assist with managing the budget are zero based,…
Borglum, K. (2008, August). Better medicine through benchmarking. Medical Economics, 85(16), 39-43. Retrieved from http://web.ebscohost.com.ezproxy.apollolibrary.com/ehost/pdfviewer/pdfviewer?sid=da8b9d9a-93da-432d-83cf-7ba9259718b8%40sessionmgr14&vid=2&hid=19
Business Performance Improvement Resources. (2011). What is benchmarking? Retrieved from http:///www.bpir.com/benchmarking-what-is-benchmarking-bpir.com.html
Cimasi, J. (2006). Financial benchmarking in the health care industry part II. Retrieved from http://www.cpareport.com/Newsletter%20Articles/2004%20Articles/FinancialBenchmarking2_Nov_2006.htm
Finkler, S.A., Kovner, C.T., & Jones, C.B. (2007). Financial management for nurse managers and executives (3rd ed.). St. Louis, MO: Saunders Elsevier.
Budget Management Analysis
In budgeting, one of the major challenges is accurately predicting the profit margins of a firm. This is because there are uncertainties from changes in the economy and their industry. These factors could adversely affect their earnings. To improve accuracy, accounting personnel must use tools and strategies that will enhance analysis. This will be accomplished by focusing on: tactics for managing budgets, comparing results with expectations and recommending three benchmarking techniques. Together, these elements will provide insights as to the best approaches for controlling the budget. (Kimmel, 2009)
Determine specific strategies to manage budgets within forecasts.
A common issue with any kind of budget is managing expenses. This is because costs will inadvertently rise, as there will be impacts from inflation. When this happens, the firm's profit margins are negatively affected. To prevent this there must be strategies developed that are focusing on intelligently controlling spending and…
Operating Budgets. (2005). Strategic Control. Retrieved from: http://www.strategic-control.24xls.com/en205
Azhar, Z. (2008). Organizational Benchmarking. MIA. Retrieved from: http://www.mia.org.my/at/at/200806/07.pdf
Burrow, J. (2009). Introduction to Business. Mason, OH: South Western.
Kimmel, P. (2009). Managerial Accounting. Hoboken, NJ: Wiley.
budget management analysis, it generally looks at how budgets can be effectively managed so as to be in line with the forecast that was earlier made. The first section of the easy spells out different strategies that can be applied to effectively manage budgets. The second section looks at budget variance and how they arise and what strategies can be used to remove them. The last section of the study will indicate three bench marking techniques that can be used to improve the accuracy in future forecast.
Strategies to manage budget within forecasts
Budget as a financial plan is based on expected future activities and is used to control that activity and hence it is possible to make a number of forecast of the financial outcome under different assumptions and the forecast which best meets the firm's or individual objective and is within its capabilities is chosen as the budget.…
Krajewski, L.J., and Ritzman, L, P, (2003) Operations Management: Strategy and Analysis. Addison-Wesley Publishing, pp 67
Stevens Hospital "financial statements"
Http. Last accessed on 6/01/2010
budgeting management was most helpful to me, I believe, in the sense that it actually helped clarify the various processes about which I wrote, providing me greater conceptual awareness of budget management planning, processes, and content. Of the essays I completed, I must admit that I like various parts of all of them, but feel that my third essay was the best. By then I was more confident about what I was writing. Overall, what I learned from writing all three essays, an insight that will, I believe, remain with me long after this course, is that one learns a great deal more about a subject from writing about it.
My third essay was the best-focused of the three, and most detailed and specific. It was the end result of much thinking I had done. My best sentence, within that essay was (I feel): "The top management, working with the…
Budget Management Analysis
So much connected to the process of budgeting is difficult. It can be difficult to draft a budget which is accurate and which connects to all project needs. Moreover, it can be quite challenging to stay within the guidelines of a budget. However, organizations and projects must be held to that regardless for their present and future success, not to mention their own level of sustainability.
Thus, whenever finance teams draft budgets, there still need to be people on the accounting team who are specifically there just to enforce the budget and to ensure that all members of the team are able to follow the guidelines set forth. Even with these specific professionals involved with the project, there is still a need to engage in concerted steps to ensure that the project remains on budget. Specific measures need to be taken by the accounting and finance team…
Azevedo, J., Newman, J., & Pungiluppi, J. (2010, March). Benchmarking: A tool to improve the effectiveness . Retrieved from worldbank.org: http://siteresources.worldbank.org/INTLAC/Resources/257803-1269390034020/EnBreve_154_Web_Final2.pdf
Hunt, S. (2013). Budgeting and Forecasting. Retrieved from accenture.com: http://www.accenture.com/SiteCollectionDocuments/PDF/112192TacticalV7.pdf
Westland, J. (2011, June 23). Project Management: 4 Ways to Manage Your Budget. Retrieved from cio.com: http://www.cio.com/article/2406862/project-management/project-management -- 4-ways-to-manage-your-budget.html
Functions That udgeting Accounts for Is the Planning Function
We will be arguing for the importance of the planning function in the overall budgeting activity and will be arguing for the many ways the budgeting planning function is coordinating with the company's strategic planning.
First of all, the planning function in terms of budgeting refers to the planning activities that the company, starting with the financial department, needs to (1) determine what the company's long-term strategy is, (2) determine what projects bring most added value to the company and (3) determine what priority these projects should have.
Let's refer to each of these steps in part and determine how they impact the budgeting strategy of a company. The long-term strategy for a company is essential in determining the overall objective of a company. For the long run, this may be increasing the volume of sales or increasing the market share…
1. The Training and Technical Assistance Division. Budgeting Techniques. On the Internet at http://www.tcada.state.tx.us/training/presentation/ppt/BudgetingTechniques.ppt#1
The Training and Technical Assistance Division. Budgeting Techniques. On the Internet at http://www.tcada.state.tx.us/training/presentation/ppt/BudgetingTechniques.ppt#1
Budget Management Analysis
The main purpose of this report is to establish the necessities as well as the costs of iPatientCare HE software to the already existent record keeping system of Home Health Care Agency. Home Health Care Agency is an organization that offers health care to patients in their homes in its targeted region. The agency provides both medical and non-medical services for adult patients in their places of residence. The agency is attributed to provide specified home care and private nursing. The health care services which are provided by the agency are split into two broad classifications which are skilled nursing and therapeutic services. This particular report will reveal the finance costs and also the deemed benefits of the capital expenditure item.
The issue at hand is that in the past number of years, Home Health Care Agency has had a healthy financial performance but the organization has…
Sachdev, R., Pendelton, A., Gustafson, J. (N.D). Compliance In The Age Of Electronic Medical Records. Retrieved from: http://www.thehealthlawpartners.com/files/compliance_and_electronic_health_records_jlg.pdf
Rodak, S. (2011). Key Compliance Considerations When Implementing EMRs. Becker's Health IT and CIO Review. Retrieved from: http://www.beckershospitalreview.com/healthcare-information-technology/key-compliance-considerations-when-implementing-emrs.html
Kaplan, R.S., & Norton, D.P. (2001). The strategy-focused organization. Strategy and Leadership, 29(3), 41-42.
Ruther, M., & Helbing, C. (1988).Use and cost of home health agency services under
Decreasing purchases of the items that regularly expire, assuming that such a decrease does not dramatically increase the per-unit cost of each of these items, would definitely present a cost savings to the organization. The other major costs that the organization has some (though not total) control over are the lost balls and the cost of trainers; it is likely that a move to hiring permanent trainers would be more cost-effective than hiring them on an as-needed basis, but more regular participation levels will need to be established for this to be effective. Likewise, it is possible for the organization to reduce lost equipment costs by erecting a temporary barrier to contain wildly hit balls, but the cost of the barrier would need to be fairly low and its durability fairly high to justify this.
6)a. Sales price variance = (25x40000) -- (25x39200) = 20000
Sales volume variance = (20x40000)…
Trending analysis through a balanced scorecard methodology is used to evaluate the level of performance of each practice relative to another based on patients served, costs, and support costs. The use of balanced scorecards as part of the strategic planning process in healthcare organizations is a best practice that delivers insights and intelligence that drives ROI strategies (Niles, 2010). This is certainly the case with the healthcare organization interviewed.
3. What are some of the most important practices or activities related to this function? What is your involvement?
Managing the underlying IT systems that make the reporting performance evaluation and improvement processes possible is the most important activity related to that specific function. As the acting CIO for the healthcare organization, the person interviewed must also manage the teams that keep the computer systems up and running over time. The have completely accountability and responsibility for keeping the entire IT…
At the same time, he then acts as an interface and communicates to the team the general directions in which the company is moving. However, the project manager also acts as an internal motivator within the team, a coordinator and organizer.
A similarly important role will be played by the project manager in his capacity to act as an interface between the different entities and shareholders involved in a certain project. In order to control scope, several documents should be used, such as, for example, the statement of work, as part of the requests for proposals, or scheduling and budget estimates. For these, the project manager will work with representatives from other departments (marketing and sales etc.), but also with the clients. At the same time, the project manager will have consulted previously with his own team, thus being able to carry to these meetings their own evaluations and estimates.…
Given the fact that the entire organizational structure relies on performance, one needs to ensure that (1) performance levels are reasonably defined and (2) that these performance levels are known to all employees within the organization.
In this sense, an organization that will be implementing the respective framework needs to make sure that the performance levels are reasonably defined. Perhaps an external structure or organization can help defined reasonable levels for outcomes.
The problem we have previously discusses seems to have itself a counterpart in terms of the performance measurement and reporting systems. First of all, measuring performance means that there are specific performance criteria that can be used. These are, in part, related to the strategic planning details I have mentioned on the previous paragraphs.
Second of all, one needs to take into consideration the reasonability of the person who is making the assessments. Again I suggest here someone…
The performance of each team member depends on the performance of all others, this being a team project. Constraints include time and financial resources; as such improvement requires permanent improvement effort.
isk Management. No risk has been identified related to the project's completion.
Monitoring and Controlling Mechanisms. The data analysts will develop a metric system to measure each member's performance on a weekly basis. This weekly performance will be submitted to the project manager for potential adjustments.
V. Operations management plan
Operations Strategy. An easy way to understand the meaning of operations strategy is to break the word into the two separate words: operations and strategy - these words being the opposite of each other (Slack & Lewis, 2002). 'Operations' is about the functions and procedures regarding the day-to-day processes, while 'strategy' is about the direction and scope of an organisation over a long period of time. The operations strategy…
Aberdeen Group. 2008. Operational KPIs and Performance Management -- Are Your Daily Decisions Based on Fact?, http://www.aberdeen.com/
Cooper, M. & Lambert D. 2000. Issues in Supply Chain Management. Industrial Marketing Management, vol. 29: pp. 65-83.
Johnson, J. C. And Wood, D.F. 1996. Contemporary Logistics, N.J.: Prentice Hall Upper Saddle Creek.
Keah C.R.K. And Handfield, R.B. 1998 .Supply Chain Management: Supplier Performance and Firm Performance. International Journal of Purchasing and Materials Management: pp.2-9.
This can come in a number of forms, including rules, "best practices" and job descriptions. Output controls place the focus squarely on the output, with significantly less attention on the behaviors that lead to the output. For example, when a sales person has a quota, that is an output control because the behavior is driven entirely by the end result. Input controls works by placing constraints on process inputs as a means of exerting control. An example might be setting a strict budget for a project. This focuses the manager on sticking to that budget, a process that the organization feels will result in the goals being achieved.
Benchmarking is useful for most firms. The exception would be firms that for one reason or another are not in a competitive environment. For those firms that are in a competitive environment, they can benefit from benchmarking because the benchmark sets the…
McNamara, Carter. (2008). Basics of Action Planning. Free Management Library. Retrieved May 9, 2009 from http://managementhelp.org/plan_dec/str_plan/actions.htm
No author. (2009). Create an Entrepreneurial Culture Among Your Employees. Score. Retrieved May 9, 2009 from http://www.score.org/culture_employees.html
Wheelen, T.L., and Hunger D.J.,(2008). Strategic Management and Business
Policy, (11th ed) Saddle River, N.J.: Pearson Prentice Hall
Undercover Boss is a great show for illustrating core management concepts. A season five episode features the CEO of the Larry H. Miller Company, owner of the Utah Jazz along with eighty other concerns. This episode features issues related to occupational health and safety, customer service and marketing. In the episode about Modell's Sporting Goods, a family-owned business that has been around since 1889, issues related to logistics, wages, and social justice come to the fore. In the first season episode featuring the CEO and president of 7-11, issues related to management and corporate structure, customer service, and quality assurance are brought to light. These three episodes can all be used to better understand textbook concepts, from the particular skills managers need to succeed to ethics and social responsibility. Of these three episodes, the most engaging was the one about Modell's because of the way the owner came to…
Schermerhorn, J.R. (2012). Exploring Management. 3rd edition.
Undercover Boss Utah Jazz: https://www.youtube.com/watch?v=f_Tc3qCOj68&feature=youtu.be
Undercover Boss Modell's: https://www.youtube.com/watch?v=8jadl9usH3s&feature=youtu.be
Undercover Boss 7-11:
S. DHS "Strategic Plan," 2008, http://www.dhs.gov/xabout/strategicplan/) ealistically acts of terrorism, domestic or foreign are exceedingly rare, though slightly more common than they have been in the past and at least marginally more violent in nature, they occur very, very rarely. (Lewis, 2000, p. 201) Though maintaining serious preparedness the mitigation of natural disasters, most which cannot be avoided is an issue needed to be addressed almost yearly, on both small and large scales, across the nation and is much more likely to directly effect people and resources on an intimate level and should be the Emergency Management system's first and primary concern! Though worst possible case scenarios, regarding the use of WMDs is important it is not where all the resources should go.
(5. In the course, you have been introduced to the various responsibilities of different levels of government in the homeland security effort. What level of government do…
Daniels, R.S. (2007). Revitalizing Emergency Management after Katrina: A Recent Survey of Emergency Managers Urges Improved Response, Planning, and Leadership and a Reinvigorated FEMA -- the Federal Government Has Responded by Making Most of the Recommended Changes. The Public Manager, 36(3), 16.
Department of Homeland Security Website www.dhs.gov
Depoorter, B. (2006). Horizontal Political Externalities: The Supply and Demand of Disaster Management. Duke Law Journal, 56(1), 101.
Hulnick, a.S. (2004). Keeping Us Safe: Secret Intelligence and Homeland Security. Westport, CT: Praeger.
Some or all such authority may be in fact unlimited. This is when a committee can counterbalance authority and diffuse power within an organization since effectively only a small faction is making important decisions. The best use of committees is to have limited power to make decisions but have unlimited power to make recommendations on how things should be done.
2. Identify the initial issue that should always be thoroughly addressed when the establishment of a committee is recommended.
The initial issue that should be addressed is that of making sure that those on the committee are the people capable of carrying out the agenda of the committee and that the committee will have limited power to make organizational decisions.
3. In what ways may committees be said to dilute the recognition and diffuse the blame or responsibility? Where, based on your personal experience, have you seen one of these…
Baker, L. 2002. "Managed care, medical technology, and the well-being of society," viewed 21
February 2011, < http://www.ncbi.nlm.nih.gov/pubmed/12055455 >
Carlson, Gail. 2009. "Managed Care Understanding Our Changing Health Care System," viewed
21 February 2011,
esearch Objectives and Scope
The main objective of the research then relates closely to the research problem. It is to research the problem of uncertainty as it manifests in the global business environment. Specific issues to be investigated include supply chain management and its related uncertainties, the production process itself and uncertainties related to it, as well as the post-production phase and market uncertainties that are related to it.
Time is also an important factor. Some industries require a long-term time frame in their planning process, which exacerbate uncertainties. The time factor should also be an important consideration in terms of creating a model that can effectively help businesses achieve their manufacturing and revenue goals.
To achieve these aims, the main objective of the research will then be to research industries and companies that operate on a global scale. They will be investigated for the models they have implemented to…
Alonso-Ayuso, A., Escudero, L.F., Garin, A., Ortuno, M.T. And Perez, G. An Approach for Strategic Supply Chain Planning under Uncertainty based on Stochastic 0-1 Programming. Journal of Global Optimization, No. 26, 2003. Retrieved from http://chentserver.uwaterloo.ca/aelkamel/che720/che720-methods-of-optimization-pse/stochastic_optimization/05100412180122714.pdf
Eppler, Martin J., Platts, Ken, and Kazancioglu, Emre. Visual Strategizing: the Systematic Use of Visualization in the Strategy Process. Institute for Corporate Communication, Dec. 2006. Retrieved from http://doc.rero.ch/lm.php?url=1000,42,6,20061207091432-KB/wpca0607.pdf
Gupta, Anshuman and Maranas, Costas D. Managing demand uncertainty in supply chain planning. Computers and Chemical Engineering, No. 27, 7 Feb. 2003. Retrieved from www.sciencedirect.com.
Kazaz, Burak, Dada, Maqbool and Moskowitz, Herbert. Global Production Planning Under Exchange-Rate Uncertainty. Management Science, Vol. 51, No. 7. July 2005. Retrieved from http://myweb.whitman.syr.edu/bkazaz/kazaz-MS-2005.pdf
Managing High Performance
A familiar challenge for any expanding enterprise is how to find and manage the highest potential employees who can over time mature into leadership positions. While there are always more applicants that positions available in senior management, the task of any leadership team is to accurately and with insight find those employees with the greatest potential of success (uggiero, 2008). From the very informal succession planning techniques small businesses use that are tantamount of planning sessions, to the much more rigorous and thorough high potential employee development programs, there is a very wide variation in approach and results (Bloch, 1996). The intent of this analysis is to provide a small, rapidly growing company with insights into how best to manage the dilemma of having 50% of its workforce looking to advance their careers with a limited number of positions available while also giving the majority of employees…
Bloch, Susan. (1996). Coaching tomorrow's top managers. Employee Counseling Today, 8(5), 30-32.
Kevin S. Groves. (2007). Integrating leadership development and succession planning best practices. The Journal of Management Development, 26(3), 239-260.
Ruggiero, J. (2008). Identifying and Developing High Potential Leadership Talent. Journal of Personal Finance, 7(2), 13-33.
Managing Across Cultures
Internationalization of the economy has influenced companies to operate their business globally. The global operation has impact managers with several challenges. Market, product, and production plans must be coordinated on a worldwide basis. The global operation necessitates organization structure to balance centralized home-office control with adequate local autonomy. As companies have started their business operation on the international front, the number of their employees has increased. Increase in the employee's abroad management is faced with new global challenges. The three broad international business management challenges were identified by the management gurus as follows (obert, Kossek & Ozeki, 1998):
a) Deployment: To get the right skills where it is required in an organization regardless of the geographical location.
b) Knowledge and creativity distribution: Spreading the knowledge and practices throughout the organization regardless of where they have actually originated.
c) Talent identification and development on global basis: To identify…
Drucker, P. (1988) The Coming of the New Organization. Harvard Business Review issue
Fadel, J. & Petti, M (1997). International HR policy basics.
Global workforce issue April 1997, pp. 29-30
Management, Science, and Technology
Who Is a Manager?
A manager is someone who knows how to take charge, organize, direct, and be accountable for individuals and groups of people operating under his guidance. Anyone who shows leadership skills can be a manager. A manager's goal is to work towards the common good. This means keeping persons on pace to meet their objectives, budgeting time wisely, and instilling in his inferiors a desire to care.
Top management impacts ethics within an organization by setting the tone and the standard for ethical practice. Superiors shape inferiors, not the other way around. Therefore, if top management encourages unethical activity through its own unethical behavior, an organization will, ultimately, be comprised of several unethical attitudes. A great example of this is Enron Corp. Top management of Enron encouraged poor ethical practices by practicing in a disingenuous manner themselves. They hoodwinked investors…
Holmes, C. (2007). The Ultimate Sales Machine. NY: Penguin.
McLean, B., Elkind, P. (2013). The Smartest Guys in the Room. NY: Penguin.
Another trait of leadership Zinni and Klotz (2009) explore is the ability of a leader to communicate clearly and articulately with the organization and the public. He can no longer afford to be the faceless top of a chain of command. It behooves the modern leader to develop a variety of decision making skills, such as honing his intuition, learning to quickly recognize developing patterns and trends, and quickly communicating his directions and intentions. This also means that today's leader must be able to show the way through times of crisis and change. A leader's ability to calmly steer a course in times of turmoil is crucial to the survival of any enterprise. Finally, a modern leader needs to think and act strategically. He must plan out the future course of action and guide the organization toward achieving the vision he has articulated. He must be able to hold fast…
Cooper, I.D., (2007, May/June). The impotence of importance -- reflections on leadership. Annals of family medicine, 5:261-262. Retrieved June 28, 2010, from www.annfammed.org (25)
Li, C., (2010). Open Leadership: How social technology can transform the way you lead. San Fransico, CA: Jossey-Bass Wiley.
Shulstad, R.A., (2009, summer). Perspectives on leadership and management. Air & space power journal, 11-17. Superintendent of Documents. Retrived June 28,2010, from http://www.airpower.au.af.mil (24)
Spurgeon, P., & Cragg, R., (2007). Is it leadership or management? Clinician in management. 15: 123-125. In R. Chambers, K. Mohanna, P. Spurgeon, & D. Wall, (Eds.). How to succeed as a leader. Oxford, U.K.: Radcliffe Publishing. (21)
What needs to first be improved upon is the lack of ownership on the part of the unionized workers, yet even more systemic is the challenge that Perrier management has in how workers are accustomed to prosperity in an era of economic downturn. Gaining consensus with unions during a contraction of their business cycles is going to be difficult. What needs to first happen is that the Perrier and Nestle' management teams needs to first focus on being transparent and honest about the need to change, and taking pay cuts, reductions in bonuses and in generals being the champions of the needed change first (Brown, Cregan, 2008). This will help to increase their credibility with the union workers, and also show they are willing to make sacrifices they are calling on others to do as well. Second, Perrier and Nestle' management must focus on creating measures of progress that equally…
Michelle Brown, Christina Cregan. (2008). Organizational change cynicism: The role of employee involvement. Human Resource Management, 47(4), 667.
Retrieved January 22, 2009, from ABI/INFORM Global database. (Document ID: 1598548371).
Christina Passariello (2004, March 17). Nestle's Dispute With Perrier Could Be Coming to a Boil Soon. Wall Street Journal (Eastern Edition), p. 1. Retrieved January 22, 2009, from ABI/INFORM Global database. (Document ID: 580630441).
Yes, managers are important to organizational success. But this is a logical fallacy question. All organizations, both the successful ones and the utter failures, have managers. So the question isn't about whether managers are important to success -- mathematically there is 100% correlation between having managers and being successful, but also 100% correlation between having managers and being unsuccessful.
Then there is the issue of where organizational success comes from. First, one must define success -- is it profitability? Or exceptional profitability? Short-term, long-term? And there are a lot of variables that contribute to organizational success, not just the actions of management. Further, to determine whether managers are integral to success, and to what degree, would require a control. It is almost impossible to define a control. You could say the managers at Google are really good, but unless there is a parallel universe Google with different managers, how…
Burns, T. & Stalker, G. (1961). The management of innovation. University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Courtright, J., Fairhurst, G. & Rogers, L. (1989). Interaction patterns in organic and mechanistic systems. The Academy of Management Journal. Vol. 32 (4) 773-802.
Eyre, E. (2015). Mintzberg's management roles. MindTools.com. Retrieved July 5, 2015 from http://www.mindtools.com/pages/article/management-roles.htm
MSG (2015). Steps in strategy formulation process. Management Study Guide. Retrieved July 6, 2015 from http://www.managementstudyguide.com/strategy-formulation-process.htm
The more planning that is done in the beginning the less re work there will be to do later.
4. The author focuses on the importance of being "close to the customer." What is meant by this phrase and how is it accomplished?
The customer is in the end the one person that a company must try and keep happy. Without customers there is no need for a product to be produced and thus no need for a company to be in business. Working closely with customers in order to make sure that they are getting what they want is crucial to a business being successful. Sometimes the customer doesn't really know what they want and this is where a project manager can help to facilitate the customer's wants and turn those into a solution that works best for the customer and the company. Being close to the customer consists…
Developing organizational strategy through the Balanced Scorecard also minimizes participants' subjectivity as they take part in the strategy-setting process and enhance managers' ability to assess all programs for strategic impact without bias (onchetti, n.d.).
While financial and customer actions are defined and available in commercial organizations, the corresponding is less easily found in non-profits. A good measure is one that management can significantly control. Non-profit organizations goals are usually influenced by many influential factors and actors beyond its authority. Commercial Balanced Scorecards usually have a financial viewpoint at the peak of the strategic reason and mapping. For the non-profit, financial goals are not the end; they are part of the means. Customary practice is to push the finance viewpoint down to the bottom of the strategy map for non-profits, treating financials as input to the strategic representation. This is difficult because financially oriented goals are also sought after by non-profits.…
Can I apply Balanced Scorecard in a non-profit organization? (2008). Retrieved August 9, 2010,
from Web site: http://www.2gc.co.uk/pdf/2GC-FAQ08-090216.pdf
Ronchetti, Jan L. (n.d.). An Integrated Balanced Scorecard Strategic Planning Model for Nonprofit Organizations. Retreived August 9, 2010, from Web site:
Still, since it is looking to sell a property asset that is not their main residence, they will be required to pay a capital gains tax, in the amount of 18 per cent (Direct Gov). For an estimated retail price of £150,150, and a tax rate of 18 per cent, Olly Lloyd would have to pay £27,027 in taxes.
For the new employment contract, Lloyd would have to pay taxes in the amount of £5,281. The sum is decreased significantly by deductions adherent to contributions made by Olly to the pension funds (Listen to Taxman).
c) Suggestions for financial management
Leone Lloyd-Cardle is, without a doubt, facing severe problems. In order to restore the responsibility and stability of her financial decisions, the following financial management recommendations are made:
Discussing the problem with her husband. Having reached such a high level of debt indicates severe problems which cannot be overcome by…
Davis, E.P., 2009, Financial stability in the United Kingdom: banking on prudence, OECD Economics Department Working Papers, No. 717, http://www.ephilipdavis.com/uk%20financial%20stability%20oecd.pdf last accessed on December 19, 2011
Inmann, P., 2008, Traders predict house prices will fall by 50% in four years, The Guardian, http://www.guardian.co.uk/business/2008/jun/09/housingmarket.houseprices last accessed on December 19, 2011
2009, Residence, domicile and the remittance basis: operation changes, HM Revenue and Customs, http://www.hmrc.gov.uk/briefs/income-tax/brief1709.htm last accessed on December 19, 2011
2011, Tax liability, Investopedia, http://www.investopedia.com/terms/t/taxliability.asp#axzz1gxx7hXX1 last accessed on December 19, 2011
Most audit managers assign supervisory tasks to senior auditors and, in general, consistently encourage more senior auditors to fulfill a mentor role within the audit team.
The dual benefit of this practice is that it fosters greater team unity and a healthier organizational culture, in addition to enabling junior auditors to learn technical skills from their more senior associates. Very often, the types of relationships maintained by senior auditors within their audit teams is one of the most important criteria considered in conjunction with possible recommendations for future promotion of senior (GS-13) auditors to management at the GS-14 level. By the time auditors reach the GS-13 level, they are not readily distinguishable from one another in technical skill (or they would not have risen above the GS-12 level).
Therefore, it is precisely their performance in the unofficial role of "supervisory" auditor that is most often considered the difference between auditors…
Kinicki, a., Williams, B. (2005) Management: A Practical Approach. New York: McGraw-Hill.
Nowalinski, G. (2001) a Brief History of the HHS Office of Inspector General USDHHS Office of Inspections and Evaluations. Washington, DC: GAO
U.S. Health and Human Services Office of Inspector General Public Website, Retrieved March 24, 2008, at http://oig.hhs.gov/organization/OAS/index.html
Innovation in its simplest form can be termed as something new or newly introduced into the market. Innovation in the business field is quite necessary since it forms the backbone of a company's growth and that of the economy as a whole. Innovation is the success of every business and must be managed effectively and efficiently (Limerick, 2002).
The ever changing technology and instant global communication have made it easier for companies to find answers to some problems they encounter and more so come up with innovations to improve on the current ones. Companies are also faced with pressures arising from global competition and by this; most of them are seeking the need to manage their innovations. Companies are nowadays attracting and managing innovations by having rewards or prizes for individuals within the company who manages to come up with brilliant and innovative concepts. This will give the…
AFUAH, A. 2003. Innovation Management: Strategies, Implementation, and Profits, New York and Oxford, Oxford University Press.
ALEXY, O. & REITZIG, M. 2012. Managing the business risks of open innovation. McKinsey Quarterly, 17-21.
BROWN & HELEN 2008. Knowledge and innovation: a comparative study of the U.S.A., the UK, and Japan London Routledge.
DANNEELS, E. 2002. The Dynamics of Product Innovation and Firm Competences. Strategic Management Journal, 23, 1095-1121.
What are the benefits of a comprehensive control program? If you were advising this corporation, what would be the specific benefits for them?
The benefits of a comprehensive internal control program include: the ability to monitor for unusual activities and it will increase vigilance. This will help to prevent fraud by providing actuaries with an actual way of discovering when these events are occurring through early detection. It is at this point that the negative impact on the firm and various stakeholders can be minimized. (Silverstone, 2011, pp. 14 -- 16)
Once this has been consistently implemented, is when it will have an impact on the entire organization by creating an atmosphere that is looking for these issues. When different staff members are actively involved in the process, this will make it difficult to be able to conduct any kind of fraudulent activities. In the future, this will…
Biegelman, M. (2012). Executive Road Map to Fraud. Hoboken, NJ: Wiley.
Bizmanualz. (2002). Accounting and Book Keeping Procedures. New York, NY: Routledge.
Goldman, P. (2011). Financial Services Anti-Fraud Risk. Hoboken, NJ: Wiley.
Silverstone, H. (2011). Forensic Accounting. Hoboken, NJ: Wiley.
Operating expenses include selling and administrative expense. Ordinarily, a forecast or budget for selling expenses is prepared together with the sales budget or profit target because selling efforts such as promotions, commissions and salaries of the sales staff are directly related to sales. Selling expenses may either be variable or fixed. Administrative expenses include projected administrative costs for other than production or selling activities. These expenses are mostly composed of fixed costs such as research and development, insurance payments and government taxes.
3. Calculate expected profits
Profit is the excess of revenue over total costs and expenses incurred in generating such revenue during the period of operation. Profit can be expressed in the mathematical equation:
Profit = Sales - Total Costs and Expenses]
Costs having been considered, the budgeted profit plan may now be established. Injecting the concept of 'revenue less expenses equals profit,' the profit may be calculated as…
In October 2005, EXXON had to pay a $8.7 million civil penalty, while at the same time spending $9.7 million on community environmental projects. In my opinion, these are unnecessary costs that can be eliminated in the future with an adequate financing for research and development in environmental protection and pollution reduction.
The marketing segment also needs an increased attention in 2006. For example, on the gasoline market, EXXON brands such as Mobil or Esso are already well-known throughout the world. Nevertheless, the specificity of the industry brings about the necessity to constantly promote these brands. How is an Esso gas station different from a Shell or Texaco one? EXXON needs to think out marketing campaigns deemed to bring out the main competitive advantages over other companies on the market: excellent service, better quality gasoline (going hand in hand with the spending in research and development in this segment, previously…
1. Exxon Mobil to spend $571m upgrading refineries. Reuters. October 2005. On the Internet at http://www.financialexpress.com/fe_full_story.php?content_id=105423
2. Blum, Justin. Exxon Mobil's first quarter earnings shoot up. Mail Tribune. April 2005. On the Internet at http://www.mailtribune.com/archive/2005/0429/biz/stories/04biz.htm
Looking over a spreadsheet can clarify when to make larger purchases, such as waiting until the start of a new billing cycle, or negotiating better payment terms offered by suppliers and any creditors, especially when interest rates are volatile.
Once the need for a budget is established then the organization can consider what type of budget it desires. For example, with zero-based budgeting, "all expenses must be justified for each new period. Every function within an organization is analyzed for its needs and costs. Budgets are then built around what is needed for the upcoming period, regardless of whether the budget is higher or lower than the previous one" (Zero-based budgeting, 2009, Investopedia). hile it is true that zero-based budgeting is more costly than traditional cost-based budgeting, it also favors enterprises specializing in areas "that achieve direct revenues or production" in the enterprise (Zero-based budgeting, 2009, Investopedia). For larger organizations,…
Activity-based budgeting.. (2009). Investopedia. Retrieved February 25, 2009 at http://www.investopedia.com/terms/a/abb.asp (Thebeauty of budgeting 2009). Investopedia. Retrieved February 25, 2009 at http://www.investopedia.com/articles/pf/06/budgeting.asp
Budget. (2009). Investopedia. Retrieved February 25, 2009 at http://www.investopedia.com/terms/b/budget.asp
Capital budgeting. (2009). Investopedia. Retrieved February 25, 2009 at http://www.investopedia.com/terms/c/capitalbudgeting.asp
Cash budget. (2009). Investopedia. Retrieved February 25, 2009 at http://www.investopedia.com/terms/c/cashbudget.asp
In fact I sincerely wanted to help them find positions where they could excel. The lack of trust on their part and the acute resistance to change was so strong that structuring for integration to the point of even defining what conditions needed to be changed to overcome shortcomings and design a new position for them was not possible. As trust was not present and despite my best attempts to earn it through being genuinely concerned about them, all attempts were seen more as patronizing and less about attempting to help them. On the occasion that they did ask for pay increases, I told them they would need to get their cumulative customer satisfaction scores up and also call volumes. Not interested in the position or excelling at it, these employees refused to improve and when let go, saw it as very personal given my continual efforts to help them…
Alexander, Kenneth O. "Worker Ownership and Participation in the Context of Social Change: Progress Is Slow and Difficult, but it Need Not Wait upon Massive Redistribution of Wealth. " the American Journal of Economics and Sociology 44.3 (1985): 337. ABI/INFORM Global. ProQuest. 25 Oct. 2008
Timothy Bartram, Gian Casimir. "The relationship between leadership and follower in-role performance and satisfaction with the leader:the mediating effects of empowerment and trust in the leader. " Leadership & Organization Development Journal 28.1 (2007): 4-19. ABI/INFORM Global. ProQuest. 24 Oct. 2008
Douglas Brownlie, Paul Hewer, Beverly Wagner, Gran Svensson. "Management theory and practice: bridging the gap through multidisciplinary lenses. " European Business Review 20.6 (2008): 461-470. ABI/INFORM Global. ProQuest. 24 Oct. 2008
Huei-Fang Chen, Yi-Ching Chen. "The Impact of Work Redesign and Psychological Empowerment on Organizational Commitment in a Changing Environment: An Example From Taiwan's State-Owned Enterprises. " Public Personnel Management 37.3 (2008): 279-302. ABI/INFORM Global. ProQuest 27 Oct. 2008
15. I see teachers tease students.
16. I tease other students.
17. I see students hurting others physically.
18. I hurt others physically.
19. I hurt others emotionally.
20. I am interested in coming to school.
21. I am a good listener.
22. I am involved in extra-curricular activities.
23. I do my homework.
24. I get good grades.
25. Adults listen to me.
26. I am lonely.
27. I feel lonely when I'm at school.
28. I share my feelings easily.
29. I used tobacco within 2 weeks.
30. I used alcohol within 2 weeks.
31. I used drugs within 2 weeks.
(not at all) to 10 (a lot).
Low Substance Culture:
32. Students in this school use tobacco.
33. Students in this school use alcohol.
34. Students in this school use drugs.
What methods will be used to answer the evaluation…
Be the change action plan. (2008). Challenge Day. [Online]. Available: http://www.challengeday.org/downloads/BTC-Plan.doc.
Ferber, S., Robertson, B., Leigh, G., Fleuridas, C. & Marachi, R. (2007). Summary of Challenge Day student survey. Challenge Day. [Online]. Available: http://www.challengeday.org/downloads/CDStudentSurveyData.pdf.
Frequently asked questions. (2008). Challenge Day. [Online]. Available: http://www.challengeday.org/our_program/faq.html#Q1 .
Maklin, M. (2002, May 20). for-profit PC workshops. Insight on the News, 18(18), 45.
" (fom Wold envionmental news, Intenet edition)
Besides developing flexible legislation that will distibute the functions of ecycling between manufactues and municipal sevices thee has to be a definite and developed pogam that would specialize on the optimal and the most exhaust utilization of electonic waste, eduction of e-waste landfills and incineation. Recycling pogam should not be limited to the ecycling of CRT monitos, as thei ownes ae moe likely to bing the whole obsolete compute system to the ecycling, not just compute monitos.
The benefit of integal pogam of ecycling is that it allows using a vaiety of mateials used in the electonics manufactuing like pecious metals, semi-pecious metals, and some electonic items in the euse.
The most impotant pat of the e-waste management is seach of the most appopiate and qualified patnes in the technical o pactical pat of the poblem solution. This poblem is of the essential…
reference: being reused repaired and modernized; being recycled and the most ecologically disadvantageous solution is simply being land filled. But the realization of these practices faces a lot of obstacles mainly of financial character. All of them are quite expensive and do not bring desired return.
That's why scientists and economists agree in the following: recycling of e-waste has to be the concern of electronics manufacturers. Loop industry is the most optimal solution to the problem as the manufacturer becomes responsible for the recycling of the products he makes. Introduction of such practices has the negative outcomes of course. Because technological process becomes more complicated and intensive, requires involvement of additional equipment and facilities on the hand with new labour the net value of the production increases and so the customers would have to pay more for electronics.
Another direction in the solution of e-waste problem is export of e-waste to the developing countries, where the process of recycling is cheaper and the possibility of e-waste to be reused, repaired and modernized is higher. Moreover some third world countries use unpopulated territories for e-waste. Anyways, this kind of solution is not appropriate again, because most of these practices somehow avoid law regulations of these countries and cannot have a mass character. It only creates additional problem which would have to be solved in close future.
As most of experts agree that recycling of e-waste has to be the problem of e-products manufacturers they have to develop different effective strategies and technologies for the most optimal solution of this problem: starting form transportation of e-waste from customer to the process of recycling. At this point global environmental community has to cooperate and share new practices and approaches in solving this problem. It refers both to technology and legislative regulation of the problem.
And in developing own strategy for e-waste management the officials of different countries have to work together and adopt practices of each other that are being effective. Countries of European Union had already made the first steps to the solution of this problem, making manufactures to be responsible for the waste caused by their products. The United Sates and Canada should start to introduce these practices as well, if they want to achieve ecological balance and safe coexistence of scientific and technological progress with health of humanity.
Managing the Effectiveness of the Audit Process
Mission and Objectives of the International Audit Department
The IAD stakeholder power-interest grid
The Audit Process
Objectives, Scope and Approach of the Research
Purpose and Mandate
Sustaining People Excellence
Tools and Technology
Infrastructure and Operations
Japan Tobacco International (JTI) is an international tobacco business that is operated by Japan Tobacco Inc. Japan Tobacco Inc. is the third largest player in the international tobacco industry with a market capitalization of 32 billion USD and a market share of 11%. JTI was established in the year 1999 when Japan Tobacco Inc. purchased the operations of United States multinational R.J. Reynolds, for 8 billion USD.
The Internal Audit Department (IAD) of the organization is accountable to the board of directors. The department is headed by the Global Internal Audit Vice President. He took his position in…
Anupindi, Ravi. 2006. Managing Business Process Flows. Upper Saddle River, NJ: Pearson/Prentice Hall.
Leseure, Michel. 2010. Key Concepts in Operations Management. Los Angeles: SAGE.
Mahadevan, B. 2009. Operations Management. New Delhi: Published by Dorling Kindersley (India), licensees of Pearson Education in South Asia.
Slack, Nigel. 2009. Operations and Process Management. Harlow, England: Prentice Hall/Financial Times.
Management of Information Systems Business Strategy: Lessons to Be Learned From the Clinic and esort Cases about the Creation, Implementation and Use of Business Intelligence
The objective of this work is to examine the lessons to be learned from the clinic and resort cases about the creation, implementation and use of business intelligence in management of information systems business strategy.
Business intelligence is described as the "business capability of extracting actionable insight from business and market data to support better decision-making and improved corporate performance." (The Business Intelligence Guide, 2011) Furthermore, Business Intelligence is the business reported to be the "most wanted technology by business across the world" because business intelligence "even in current times of economic downturn, when IT budgets are being cut, is still at the top of the list of urgently needed business capabilities." (The Business Intelligence Guide, 2011) The critical need for business intelligence was learned…
Briggs, Linda L. (2011) BI Case Study: Hospitality Firm Clean Up with BI. 26 Jul 2011. TDWI. Retrieved from: http://tdwi.org/Articles/2011/07/26/Case-Study-Hospitality-Firm.aspx?Page=1
Business Intelligence (2011) The Business Intelligence Guide. Retrieved from: http://thebusinessintelligenceguide.com/bi_solutions/index.php
Konitzer, Kate and Cummens, Mike (2011) Case Study: Using Analytics to Improve Patient Outcomes and Billing Accuracy at Marshfield Clinic. TDWI. 11 Jul 2011. Retrieved from: http://tdwi.org/Articles/2011/07/11/CASE-STUDY-Using-Analytics-to-Improve-Patient-Outcomes-and-Billing-Accuracy-at-Marshfield-Clinic.aspx?Page=1
This contribution to fixed costs is the same for every customer. Thus, the breakeven point is 250,000 / 500 = 500 customers.
In another example, if the price is 200 and the variable costs are 110, and the fixed costs are 100,000, then the breakeven point is 1112 customers. The breakeven point is always rounded up because to have less than that the company would not yet have broken even. By rounding up, the company has officially passed the breakeven point.
4. The relative value scales are 150, 300, 568.75, 264 and 160 for a total of 1442.75
The relative value scales indicate how much effort goes into each type of acuity. The cost per RVU is relative to the total nursing costs, so it is a weighted-average:
$36,389 for Acuity Level 1
$72,777 for Acuity Level 2
$137,974 for Acuity Level 3
$64,044 for Acuity Level 4
Management of Continuum of Care Services
As the new director appointed for the Medicare and Medicaid Services (CMS), I realize the climbing costs of payments of these two programs and have met with the other members to come up with a plan of that will help enforce the strategies and guidelines in the state of North Carolina that can help us follow a budget that will assist the overall national requirements for persistent care. In doing so fellow board members have met with me to look at the Medicare Modernization Act (MMA), Administration on Aging (AoA), and other parts of the medical services to help come up with an arrangement that will help us reduce costs in our particular area that will assist the national healthcare problems that we currently face.
After looking at the problems within our own area we have decided to enforce the guidelines of the current…
Department of Health and Human Services, (n.d.). Administration on aging. Washington, DC: Retrieved from http://www.aoa.gov/aoaroot/about/Budget/DOCS/FY_2012_AoA_CJ_Feb_2011.pdf
Revering, S. (2007). Update on medicare part d. Informally published manuscript, Department of Health, Massachusetts university, Boston, Retrieved from http://docs.google.com/viewer?a=v&q=cache:vFwR3GhqkgkJ:www.mass.gov/Eeohhs2/docs/dmh/prescription_fact_sheet.ppt+medicare+modernization+act&hl=en&gl=us&pid=bl&srcid=ADGEESj-oSY8OF2PkNp5h6mbuap2CtLuhDndi5ccDFVvjGqHqGhGux-tRa0s5PrbP7CSCvtILHI8AE86mRKjnUnetKPMIgY98MGCNV_PE5PG4ZCS7robDOijjRgzUo_mPol6_0rmXtnE&sig=AHIEtbS4whuLInutr1XLxYchmbqxo8OIRw&pli=1
As the workplace and management techniques have developed over the decades, employees have enjoyed an increasingly powerful position in their companies. According to Eisler and Montuori (2001), the changes in both business and its surrounding environment in terms of society, the economy and the environment have necessitated new paradigms of the employer-employee relationship. It is no longer sufficient to mindlessly follow traditional methods such as marionette management. Instead, the workplace needs to be assessed in terms of which management styles will most efficiently drive the specific business.
Partnership management is one of these new paradigms. In partnership management, it is acknowledged that employees are more than entities to perform specific functions for a specific time during the day. In this management style, employees are recognized as an important part of business growth and success. As such, they are expected to provide input that would be valuable for the…
Eisler, Riane and Montuori, Alfonso. (2001). The Partnership Organization: A systems approach. OD Practitioner, vol. 33, no. 2. http://www.partnershipway.org/html/subpages/articles/organization.htm
Eisler, Riane. (1991). Women, Men and Management; Redesigning Our Future. Futures, January/February. http://www.partnershipway.org/html/subpages/articles/management.htm
Heller, Robert. (2007). Business Enterprise: Entrepreneurship and spotting business opportunities. Thinking Manager's Blog. http://www.thinkingmanagers.com/management/business-enterprise.php
Nowicki, Michael & Summers, Jim. (2003, Oct). "The benevolent autocrat: is it the right fit for the times?." Heatlhcare Financial Management. Online database: FindArticles.com
Management Action and Productivity
usinesses in developed countries tend to think of Corporate Social Responsibility (CSR) as a characteristic that is centered in their own businesses or, failing that, situated in the industries of wealthier nations. The CSR movement is substantively skewed in the direction of the developed world where the motivation for adopting a CSR initiative is driven more by altruism -- or "enlightened self-interest" (Vogel 2006: 18) -- than profit margins. It is unusual to find a perspective that considers CSR from the perspective of a sourcing company. In the centrically-oriented corporate arena of the developed world, CSR is seen as originating with the company that establishes a supply chain with a multinational company -- not the other way around. In order to manage and control ethical issues arising from doing business with overseas markets, many corporations rely on a social compliance model (PricewaterhouseCoopers 2007).
The social compliance…
Buying your way into trouble? The challenge of responsible supply chain management. 2004. Insight Investment, HBOS. London, UK: Acona Investment Consulting. Retrieved http://www.acona.co.uk/reports/Buying+your+way+into+trouble.pdf
Cooper, D.R. And Schindler, P.S. 2008. Business Research Methods, 10th Ed. Edition, McGraw-Hill.
Environics International 3rd Annual CSR Monitor. 2002. (In November of 2003, Environics became GlobeScan Incorporated. [Press release] Retrieved http://www.globescan.com/news_archives/csr02_press_release.html
Eslenshade, J. 2004. Monitoring Sweatshops: Workers, Consumers, & the Global Apparel Industry. Temple University Press.
3 Strategies of CDC
As mentioned in the introduction, the Centers for Disease Control and prevention has developed and implemented six sets of strategies as follows:
Health Impact Focus - the alignment of CDC's employees, objectives, strategies, investments and performances in order to maximize the CDC's beneficial effects upon public health
Customer Centricity - Like any other corporation, the Centers for Disease Control and Prevention is focused on offering those products and services required and needed by the population in order to improve and preserve their health
Public Health esearch - the CDC funds and conducts numerous researches aimed at identifying new treatments and any other issues which would positively affect the public health
Leadership - the Centers for Disease Control and Prevention possesses the best skilled and qualified employees, guided by the most committed managers and supported by strategic partners, all to improve the health system within the United…
Etheridge, E.W., 1994, Sentinel for Health: A History of the Centers for Disease Control, Journal of Interdisciplinary History, Volume 24, Number 4
Friede, a. And O'Carroll, P.O., 1996, CDC and ATSDR Electronic Information Resources for Health Officers, Journal of Environmental Health, Volume 59
1994, the Centers for Disease Control and Prevention on Emerging Infectious Disease Threats, Population and Development Review, Number 13
1999, CDC on Infectious Diseases in the United States: 1990-1999, Population and Development Review, Volume 25, Number 3
Management Account in the Public Sector and Management Accounting in the Private Sector: A Comparative Review
The late 20th and early 21st centuries have brought increasing change to almost every country in the world, Australia included. Globalism describes, in fact, the increasing unification of the world through economic means (reduction of trade barriers, support of international trade, and mitigation of export and import quotas). They goal for globalization is to increase material wealth and the distribution of goods and services through a more international division of labor and then, in turn, a process in which regional cultures integrate through communication, transportation and trade. The overall theory is that if countries are tied together cooperatively economically, they will not have needed to become political enemies. Additionally, the idea of globalism and international trade has changed the way Australian's view public and private businesses and the opportunities afforded them because of investment,…
Alexander Performance Management, Inc. 2004, Private vs. Public Sector, viewed May 2012, .
Broadbent, J & Laughlin, R 1988, 'Public Private Partnerships: An Introduction', Accounting, Auditing and Accountability Journal, vol 16, no. 3, pp. 332-41.
Financial Accounting Standards Board 2012, Convergence with the International Accounting Standards Board, viewed May 2012, http://www.fasb.org/international/convergence_iasb.shtml .
Funnell, W & Cooper, K 1998, Public Sector Accounting and Accountability in Australia, University of New South Wales Press, Sydney.
Managing Organizational Change
Cincom and Accountability of Sales epresentative for esults
Cincom is a 43-year-old developer of enterprise software applications and by virtue of the designed-in nature of their applications, has been able to literally coast on a comfortable wave of recurring revenue for a decade. This recurring revenue stream is comprised of license payments, maintenance fees, and the continual need for updates to mission-critical systems the company sold, in some cases, decades ago. With the majority of revenue being generated through a recurring revenue stream, the urgency and intensity to sell which is often found in smaller, younger, and more cash-starved businesses is not as prevalent inside Cincom. The framework for change model provides an invaluable construct in which to analyze the complacency of Cincom, what contributed to that false sense of security, and the path back to being a competitor in their core markets (Kotter, 2008).
Kotter, J.. (2008, December). Transformation. Leadership Excellence, 25(12), 20.
John P. Kotter & Leonard A Schlesinger. (2008, July). Choosing Strategies for Change. Harvard Business Review, 86(7,8), 130-139.
Anthony J. Mento, Raymond M. Jones, & Walter Dirndorfer. (2002). A change management process: Grounded in both theory and practice. Journal of Change Management, 3(1), 45-59.
Michael W. Phelan. (2005). Cultural Revitalization Movements in Organization Change Management. Journal of Change Management, 5(1), 47-56.
There are two things that concern the new facility in Walkerton and that need to be addressed. The first relates to the equipment and machines in use within the plant. As we have seen, one third of the equipment is obsolete and up to 50% will have to be renewed. However, clear steps have already been taken in this direction. The company is committed to transferring new product lines into Canada and the local government has a favorable tax treatment on the purchase of equipment. In this sense, the problem of obsoleteness may be successfully solved.
An even more serious problem, however, relates to the employees. As we have seen, and this is perhaps the best description which accounts for the current situation within the plant, the working environment reminds us of high school, only with adults. It is clear that, in order for the plant to become efficient…
In terms of the disaster planning, the decision was made to select remote backup services, the most cost-effective strategy available for backing up records and data. In terms of recovery, the decision to rely on distributed processing was an expensive one, yet assured HEWE of continual uptime due to parallel and fault-tolerant processor-based systems. For the insurance coverage, Business Interruption Insurance Coverage was chosen as part of the disaster planning strategy that HEWE undertakes. While there are many insurance options specifically for HEWE to consider, the Business Interruption one makes the most sense from covering potential loses due to a lack of systems and data being available.
The final area of the case study regards project implementation. While there are phased implementations, Big Bang implementations or parallel implementations, the last option would be most advisable for HEWE. It is recommended that the parallel implementation to minimize risk and also provide…
Hagop S. Mekhjian, Melinda S. Vasila, Kevin A Jones. (2008). Combine and Conquer: Computing from a Single Database. Physician Executive, 34(5), 30-32, 34-35.
Managing the Firm in the Non-Market Environment
The Heathrow Airport in London is one of the busiest airports in the world, and there are even times when it is unable to fully satisfy the demand for flight services. With this limitation in mind, a project was onset in 2008 and it saw the construction of a third runway and a 6th terminal. Still, the decision was difficult to make since the project was faced with numerous issues. These would be approached through two distinctive angles -- the SWOT analysis and the Probability -- Impact matrix.
The development project would respond to the increasing need of the London airport to offer better flight and adjacent services
London would as such become a more economically appealing region, attracting more investors through the improved infrastructure
The capacity of the airport -- and as such the customers served and the adjacent revenues…
Murray, D., 2011, London airport pollution levels well above safety limits, Airport Business, http://www.airportbusiness.com/web/online/Airport-News/London-Airport-Pollution-Levels-Well-Above-Safety-Limits/4$5,761 last accessed on September 2, 2011
Managing the firm in the non-market environment, You Tube Video available at http://www.youtube.com/watch?v=AMYWgMSwsnI
Management: Annotated Bibliography
Anyim, F.C. (2012). The Imperative of Integrating Corporate Business Plan with Manpower Planning. International Journal of Business and Management, 7(8).
This article talks about how traditionally, manpower planning as human resource activity is something that is utilized by institutions to make sure that they have the proper number and the accurate types of individuals that are performing jobs at the right places and during the right time all in a proposal to achieve business purposes. The article also explains how Business plan looks to recognize the many issues critical to the achievement of the association. The article likewise emphases on how the organization can be better positioned and equipped to contend effectually in the marketplace, while manpower planning, and contribute to the industry by providing the means (individuals) to complete the results from the planning procedure. This essay is beneficial gives theoretical explanations and inspects the authoritative…
Anyim, F.C. (2012). The Imperative of Integrating Corporate Business Plan with Manpower Planning. International Journal of Business and Management, 7(8).
Bewayo, E. (2005). Business Plans: Why Do We Teach Them? Northeast Business & Economics Association (NBEA) -- Established in 1973, 492-495.
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Brush, S. (1993). Developing a hotel business plan: A how-to manual. Cornell Hotel and Restaurant Administration Quarterly, 34(3), 72.
Management class 494, I Executive Summary case title Nascar: A Branding Success. Marketting Strategy book O.C. Ferrel, I international student, I write summary formal words make an international student essay IA, I sounds weird write Executive summary a I write.
NASCA executive summary
NASCA, short for The National Association for Stock Car Auto acing, is a relatively small size firm, but which also has an increased importance within the national and international auto racing events. The success of the organization is based on several key features, including the dedication of the staff members to high quality operations and services, the wide reach of the company outside the geographic borders, but also, the strength of its marketing approach.
The marketing team of NASCA is highly skilled and qualified, and, along the years, has produced some of the more successful measures to attracting the attention of the audience, as well as its…
Ferrell, O.C., Hartline, M., 2010, Marketing strategy, 5th edition, Cengage Learing
The departmental and program breakdown of the information in the city of Detroit's budget does not provide quite the same level of detail or of annual change that the city of Austin's budget does, but this more than made up for by the ease of accessing what details are available, and by the different formats of the two cities' budgets almost necessitate these differences in clarity, but they do not entirely account for the lack of clarity in the city of Austin's budget. That budget is already organized by department and broken down into the individual programs; tabulating the department totals and providing a clear overview of the major expenditure and revenue items on the budget would not have entailed any undue extra effort. The city of Detroit's budget clearly shows that both detail and overall clarity are entirely achievable in a municipal budget, making it both more effective and…
Lee, R.; Johnson, R. And Joyce, P. (2008). Public budgeting systems. Sudbury, MA: Jones & Bartlett.
Stenberg, C. (2007). Managing local government services: a practical guide. Washington. D.C.: ICMA.
S. Government to make future or immediate monetary outlays. In the second subcomponent, the reporting and outlay phase lasts for the duration until the funds are canceled or until the funds are totally disbursed. One should note that these cancellations are in no way connected with cancellations that are connected with budget reductions. These are a separate congressional activity (ibid).
Sometimes spending adjustments are needed during the fiscal year. They may require special reporting and approval procedures by both Congress and OMB. In some instances, an agency can request supplemental funding by submitting a request to the Congress. Mostly, the departments and agencies are required to manage their funds according to their available resources and have only a limited monitoring by the OMB and the Congress during this particular phase of the budget process (Government Printing Office, 29-30).
hat is the effect of this system in theory as well as…
Government Printing Office, the budget cycle. Washington, DC: GPO. Retrieved
Keith, Robert. U.S. Congress, Congressional Research Service. (2008). Introduction to the federal budget process (CRS Publication No. 98-721 ). Washington DC: Congressional Research Service. Retrieved from http://budget.house.gov/crs-reports/98-721.pdf .
Keith, Robert. U.S. Congress, Congressional Research Service. (2008). Suspension of budget enforcement procedures (CRS Publication No. RL31068). Washington, D.C.: Congressional Research Service. Retrieved from http://www.policyarchive.org/handle/10207/ .
" (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…
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.
A competitive advantage can be founded on expenditure or separation. Michael Porter recognized three industry independent general strategies from which the company can choose (the Strategic Planning Process, 2010).
The chosen strategy is put into practice by way of programs, budgets, and measures. Execution entails organization of the company's capital and inspiration of the employees to attain goals. The manner in which the strategy is put into practice can have an important impact on whether it will be victorious. In a big corporation, those who put into practice the strategy likely will be dissimilar individuals from those who devised it. Therefore, concern must be taken to speak about the strategy and the motive behind it. If not, the execution might not do well if the strategy is not understood or if lower-level supervisors resist its execution because they do not understand why the particular strategy was chosen (the Strategic Planning…
Basic Description of Strategic Planning. (n.d.) Retrieved February 21, 2011, from Web site:
Shapiro, Janet. (n.d.). Strategic Planning Toolkit. Retrieved February 21, 2011, from Web site:
Management and Organizational Development
CHAPTE V - SUMMAY ESULTS
Fresno County Department of Children and Family Services emancipates twenty and thirty eighteen-year-old foster children each month. These children face many challenges as they work through a transition into the adult, working world. Children in a foster care setting have not had the stability needed for them to develop the life skills necessary to adjust to life on their own. Many of the emancipated youth have either not graduated from high school, nor hold a G.E.D. certificate. In addition, they do not have adequate basic living skills.. The youths typically do not have employment, nor have they built a history during their teen years of successful part time entry level jobs.
The housing experiences of these children, as they have moves from home to home, have not taught them the basic skills needed to keep a home, or apartment. These young…
director for this program, recommended by his or her peers from within the foster care system. This person should be someone who has demonstrated a high level of commitment to the foster care system, and has a track record of frequently going "above and beyond" the normal course of daily activities in order to benefit the well being of children in the system.
Funds for an additional training program to teach foster care workers about the benefits of mentoring relationships.
Standards, goals and objectives must be written for the Mentor, and for his or her case worker to follow and use as guidelines for the ongoing relationship
Connection event planning. Location, supplies, budget for event foods, decorations, and other ambiance.
Management of Casinos
The history of gambling in the United States consists of three periods, called waves. During these periods, laws and social standards vacillated from prohibition to regulation and vice-versa (Dunstan 1997).
The first wave was during the colonial era from the 1600s to the middle of the 1800s when early colonists had a vastly different attitude towards gambling. These colonists were the Puritans and the English who established their individual communities, where their distinct values were observed and lived. The Puritans, prominently in the Massachusetts ay Colony, prohibited gambling, the possession of gambling items (cards, dice, gaming tables) and even dancing and singing. This rigid behavior, however, relaxed the following year to allow innocent gaming as recreation, but not as a trade or profession. The English, in contrast, not only allowed it but indulged in gambling as a harmless and popular diversion (Dunstan). Gambling was further enhanced by…
Best Gambling Games. Beginning Gambling History. http://www.best-gambling-games.com/gambling_history.html
Dunstan, Roger. History of Gambling in the United States. California Research Bureau: California State Library, Jan 1997. http://www.library.ca.gov/CRB/97/03/chapter2.html
Irwin, Arthur E. Your Casino's Chief Financial Officer, an Important Regulatory Ally. Gaming Regulation News, Winter 1997-98
KPMG. The New Imperative: Customer Centric Management, a real estate report. Ideas and Trends, KPMG Peat Marwick LLP, 1998
" (Kotler and Lee 2005, p.3). Since this study was published, the contributions have steadily increased making CS an integral part of every major company today.
A report by Price Water Cooper House in 2010 shows that the CS initiatives and reporting has increased despite the sagging economy and this points to a positive change in the mindset of the management of companies. "PWC explains that such reports have become critical to a company's credibility, transparency and endurance." (Business & the Environment 2010, p.5). The reduced role of the Government in business circles is only going to further increase this trend because companies feel they have an obligation to the society at large and they want to make this country a better place for living. All this is done out of their own interest and initiative rather than any force by any external institution. Also, many companies understand the significance…
Associated Press. 2011, February 25. State and Local Budget Cuts are slowing the U.S. Economy. Fox News. [Online] Available at: http://www.foxnews.com/us/2011/02/25/government-budget-cuts-pose-threat-recovery / [Accessed 27 March 2011]
No Author. 2011. Political Conditions. United States Country Review. 1(5). pp29-258.
Kotler, Philip; Lee, Nancy. 2005. Corporate Social Responsibility: Doing the most good for your company and your cause. New York: John Wiley and Sons.
BSD Global. 2011. Corporate Social Responsibility. International Institute for Sustainable Development. [Online]. Available at: http://www.iisd.org/business/issues/sr.aspx [Accessed 27 March 2011]
I will also be involved in handling and addressing employee work-life imbalances to steer them towards nothing less than achievement.
Building a happier and a more satisfied team requires some effort to reduce conflict and improve their working relationship. Teams are the force that drives most organizations, be it a functional team, a team of managers or a project team makes work easier and more effective. My key role in player development is to mentor the team members to solve problem, make better decisions, and learn new skills so that performance and productivity don't suffer.
The team, just like any other groups will therefore need a well formed team dynamics so that we have a well modeled player who will be part of the team and not act as individuals. The commonly known dynamics that are found in teams are roles, norms, relations, need to belong, development, effects…
Ann Marie N. & Joyce S., (2009). Group Dynamics and Team Building. Retrieved August 31,
2011 from http://www.wfh.org/2/docs/Publications/Hemo_Org_Resources/Monographs/HOD4_Group_Dynamics_2-edition.pdf
Business mart, (2010). Managing Your Franchise Business. Retrieved on 2, 2011 from http://franchises.businessmart.com/managing-your-franchise-business.php
Content writer, (2011). The Concept behind Sales Promotion. Retrieved on 2, 2011 from http://www.contentwriter.in/articles/advertising-marketing/sales-promotion.htm
Economies of scale reflects a situation where the cost of something declines when more is produced. With larger quantities, bargaining power increase, and there are opportunities for greater systems efficiency. Economies of scope reflects a cost saving when a company produces two or more goods (The Economist, 2008). For example, if McDonalds only produced Big Macs, it would be inefficient because there is not enough demand for those to keep the restaurant busy. By adding other products, the restaurant can become more efficient because it is working closer to capacity and there are always customers.
Transaction costs are the costs associated with a transaction. In some cases, there are fees and commissions that have to be paid in order to do something. Those costs do not add any value in themselves, but they are costs that are necessary to doing the transaction.
Economic Value Added (EVA) is basically the…
IFM (2015). Porter's generic competitive strategies. University of Cambridge. Retrieved July 10, 2015 from http://www.ifm.eng.cam.ac.uk/research/dstools/porters-generic-competitive-strategies/
Porter, M. (2008). The five competitive forces that shape strategy. Harvard Business Review. Retrieved July10, 2015 from https://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy
The Economist (2008). Economies of scale and scope. The Economist. Retrieved July 10, 2015 from http://www.economist.com/node/12446567
Subramaniam, N. (1999). The European automotive industry. Tripod. Retrieved July 10, 2015 from http://cometonada.tripod.com/segmentation.htm
The second phase needs to concentrate on initiative and performance to restart the business of Tyco and make it profitable again.
Imagine that you were CEO of Tyco when the former CEO was still on trial for fraud. You are trying to rebuild the company's corporate reputation. Write a script for your address to the shareholders after 18 months in the position. Pay attention to the appropriate use of metaphors in your change conversation to this group.
Transformation is difficult but critical for any business to attain growth and realize its full potential over the long-term. Over the last eighteen months our company has been through a crucible that has tested the trust and value we deliver as a business with our suppliers, customers, employees and shareholders. The goal is to rebuild a solid foundation of trust based on complete accountability. My appointment of a Chief Ethics Officer who is…
Ford, J., & Ford, L.. (2008). Conversational Profiles: A Tool for Altering the Conversational Patterns of Change Managers. The Journal of Applied Behavioral Science, 44(4), 445.
Glenna Gerard, & Linda Teurfs. (1997, August). Dialogue and transformation.
Executive Excellence, 14(8), 16.
Geert Hofstede, & Robert R. McCrae. (2004). Personality and Culture Revisited: Linking Traits and Dimensions of Culture. Cross - Cultural Research, 38(1), 52-88.
Management accountability to stakeholders first requires consideration of who those stakeholders are. When considering financial accountability, the primary defined stakeholders for annual reports are the shareholders or owners of the firm (Elliott and Elliott, 2013). Therefore, this establishes the need for management accountability towards this group of stakeholders, the process which is satisfied not only for annual accounts, but also from quarterly earnings as well as other statements. However, there are other stakeholders which will have a direct impact on the firm, and either directly or indirectly influence their performance. This includes, but is not limited to, government, customers, and suppliers.
Government accountability requires a firm to demonstrate for compliance with regulation, and where governments are not fully satisfied that firms are acting in an appropriate manner, they are likely to introduce more legislation. Customers will have needs regarding the products and services they purchase, this will not only be…
Bodie, Z., Kane, A., & Marcus, A. J. (2014). Investments. London: McGraw Hill Higher Education.
Chyssides, G. D., & Kaler, J. H. (1998). An Introduction to Business Ethics. London: Thompson Business Press.
Elliott, B., & Elliott, J. (2013). Financial Accounting and Reporting. London: Pearson.
Mintzberg, H., Ahlstrand, B., & Lampel, J. B. (2008). Strategy Safari: The Complete Guide Through the Wilds of Strategic Management,. Harlow: Financial Times / Prentice Hall.
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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…Read Full Paper ❯
A competitive advantage can be founded on expenditure or separation. Michael Porter recognized three industry independent general strategies from which the company can choose (the Strategic Planning Process, 2010).…Read Full Paper ❯
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" (Kotler and Lee 2005, p.3). Since this study was published, the contributions have steadily increased making CS an integral part of every major company today. A report by…Read Full Paper ❯
I will also be involved in handling and addressing employee work-life imbalances to steer them towards nothing less than achievement. Player development Building a happier and a more satisfied…Read Full Paper ❯
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The second phase needs to concentrate on initiative and performance to restart the business of Tyco and make it profitable again. Imagine that you were CEO of Tyco when…Read Full Paper ❯
Management accountability to stakeholders first requires consideration of who those stakeholders are. When considering financial accountability, the primary defined stakeholders for annual reports are the shareholders or owners of…Read Full Paper ❯