1000 results for “Budget Planning”.
Certain specialists in the field have agreed upon the two most
important principles that the budget, whether it is a governmental or
corporate one, should follow. One of the two principles consists in the
fact that the budget should be designed as a tool for planning and
monitoring (Andrews, 2007).
Similarities between the Federal Budget and the Corporate One
As mentioned above, the two types of budgets are very distinct in
areas like the development process, budget application, or decision makers
involved. However, there are a series of similarities between the two types
of budgets that cannot be overlooked.
For example, both types of budgets are subjected to modifications, in
case certain unpredicted situations emerge, requiring a new adaptation of
the budget. It is more difficult to modify the federal budget, given the
repercussions this action has and given the fact that federal revenues
cannot be modified in accordance with modifications required by the budget.
It is more a matter of fund reallocation.
Also, in both…
Budget Planning and Controlling
Benefits of a ealistic Budget
A budget is delineated as a written statement of the plans for management for a particular period of time, conveyed in financial terms. A realistic budget will benefit the owner of Babycakes as compared to having no budget at all. One of the benefits is forecasting. A realistic budget will assist the owner of Babycakes in projecting yearly expenses and also helps in perceiving the costs as they take place. A second benefit is setting the right prices. It is imperative to note that aspects such as the prices of rival products are not the only factors taken into consideration when setting the rates, charges and prices of products. For instance, the price of cupcakes set by Babycakes during Valentines should not be solely determined by what other bakeries set their prices to (Drury, 2013; Weygandt et al., 2009).
A third benefit of Babycakes…
Drury, C. M. (2013). Management and cost accounting. New York: Springer.
The Motley Fool. (2017). What Are the Advantages of Using a Flexible Budget vs. a Static Budget?
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2009). Managerial accounting: tools for business decision making. Hoboken: John Wiley & Sons.
Wiley. (2011). Budgetary Planning featuring Babycakes. YouTube. Retrieved from: https://www.youtube.com/watch?v=frh3I2rVDzs
Keeping staff medically informed so that they can best deal with the variety of cases seen within the context of an E unit. Within the vulnerable population inside the E are individuals who inappropriate use its services. esearch states that "patients who inappropriately overuse the E has become a national health care priority as E costs per-visit are generally three times higher than a comparable care in an outpatient clinic," (Thompson & Glick 1999, p 1). Studies have shown these individuals to include the mentally ill and "socially vulnerable" population, including the poor, who otherwise have no access to typical health care services without insurance (Thompson & Glick 1999, p 2). Yet, in the modern context, care can be provided in other care locations. A well trained and experienced staff can help filter out those individuals who can provide referrals to more appropriate health settings. With all the new…
Cunningham, Peter J. (2006). Medicaid / SCHIP cuts and hospital emergency department use. Health Affairs. 25(1):237-247.
House Committees on Ways and Means, Energy and Commerce, and Education and Labor. (2010). Bill summary. Affordable Health Care for America. Retrieved May 22, 2010 from http://docs.house.gov/energycommerce/SUMMARY.pdf
Thompson, Karen MacDonald & Glick, .(1999). Cost analysis of emergency room use by low-income patients. Nursing Economics. Retrieved May 22, 2010 from http://findarticles.com/p/articles/mi_m0FSW/is_3_17/ai_n18608642/?tag=content;col1
University of Arkansas for Medical Sciences. (2010).Needs assessment. Continuing Medical Education. Retrieved May 22, 2010 from http://www.uams.edu/cme/word%20docs%202/NEEDS%20ASSESSMENT/NeedsAsmt.pdf
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…
Are visits to customers scheduled so that sales staff are available to customers at all times in the showroom? Are the full time carpenters sufficient to handle timely output? Would one additional full time person be more financially beneficial than using four on-call contractors?
Income can be categorized as point of sale or accounts receivable. Expenses can be categorized as fixed (insurance, rent, etc.) and variable (supplies, utilities, etc.). Everything that is paid out each month should be included, factoring in for taxes and other items that don't necessarily occur each and every month. Just organizing the data in this fashion may reveal immediate areas of action, like lagging receivables or expenses in a particular category that are out of scope. One of the first steps usually involved is that once everything is laid out in writing, it is time to review the list and decide where to adjust accordingly.
Managing Finance: Essential Skills for Managers, Geoffrey Meredith and Bob
Williams, 1999 Publisher: McGraw-Hill Book Company of Australia Pty Limited.
Five Steps to an Effective Strategic Plan, Scalet Sarah, CSO Magazine, July, 2005
budget components (Policy Document, Financial Plan, Operating Plan, Communications Device), rank them in order of importance in your opinion and justify your rank order.
ank 1: Policy Document: The Policy Document is synonymous with a Budget Document. The budget document can be a line item detailed listing of every expenditure for every department within the government operation. The document conveys the policies and procedures of the administration and outlines its funding.
The expenditure amount is a further clarification of the entity's commitment to their underlying cultural and operating practices which complement their specific organizational goals and organizational strategies. Organizational strategies in accordance to the Policy Document include the Strategic Planning Document which details how the organization will propel itself into the coming years as a strategic city seeking to attract the best and the brightest to start businesses and to be residents. As the underlying specific goals to the macro strategy,…
Blocksidge, Charles. "The Art of the Budget." The American City & County 110.3 (1995): 6-. ProQuest. Web. 18 July 2011.
Thomas, John. "Operational Plan Framework: A Step Toward Sound Management." Optimum 15.2 (1984): 76-.ABI/INFORM Complete. Web. 18 July 2011.
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 or promoting…
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
BHP Billiton Budget and Financial Planning
BHP Billiton is a global Anglo-Australian company specialized in petroleum, metal and mining. Headquartered in Melbourne, the BHP Billiton is one of the world largest mining company using the 2013 total revenue. The BHP Billiton was established in 2001, and has been ranked as a top performing mining company in the world. At the end of 2015 fiscal year, BHP Billiton recorded $44.6 Billion as the total revenue with the net income of $1.9 Billion. In 2010, the company recorded a net income of $12.7 Billion, and by the end of 2014 fiscal year, the net income increased to $13.8 Billion. However, the company net income drastically declines to $1.9 billion at the end of the 2015 fiscal year. (Annual Report, 2015).
This report carries out a financial and budget planning for the BHP Billiton to enhance a greater understanding on the strategy the company…
Sources of data to evaluate effectiveness of financial management process are:
Tracking items such as utilities, inputs, salaries, and materials.
Evaluate whether costs are allocated by the cost centers.
Financial reports are linked to financial budgets
Cash flow statements are accurate.
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 follows:
Less: Direct/Product/Manufacturing Costs
..ERP combines them all together into a single, integrated software program that runs of a single database so that the various departments can more easily share information and communicate with each other." (Pang, 2001) the work of Les Pang (2001) entitled: "Manager's Guide to Enterprise Resource Planning (ERP) Systems" published in the Information Systems Control Journal informs this study that over the past ten years an organizations have significantly experienced "changes in their core business applications. These applications have moved from a centralized mainframe platform towards distributed client-server architecture, changed from monolithic customized software systems to commercial off-the-shelf (COTS) system modules with graphical development tools and expanded from a local area network environment to one with the broad reach of the World Wide Web. usiness applications have changed to support the globalization of their organization with the addition of multisite and multicurrency functionalities." (Pang, 2001)
The desire of a great number…
Preparing Financial Projections (nd) PlanWare - Creative Commons Attribution-onCommercial-NoDerivs License. Online available at http://www.planware.org/financialprojections.htm
Writing a Business Plan (nd) PlanWare. Online available at http://www.planware.org/businessplan.htm
ABC - an Introduction to ERP: Getting Started with Enterprise Resource Planning (2008) CIO Online available at: www.cio.com.
Pang, Les (2001) Manager's Guide to Enterprise Resource Planning (ERP) Systems. Information Systems Control Journal, Volume 4, 2001. Online available at
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) --…
Planning Proposal on "Feasibility of developing an intranet"
To whom it May Concern:
Re: "Feasibility of developing an intranet" (Planning Proposal)
Our company is an internationally-based company that is extremely spread out geographically, and even on an internal level, in its architectural structure. Managers often wish to communicate efficiently and confidentially amongst themselves regarding the performance of other members of the staff. However, at present, this is difficult to accomplish. Of course the company could build a new physical structure to accommodate needs for better face-to-face connectivity amongst individuals, but another and less expensive potential solution exists, that of the development of an in-house intranet, or online connectivity structure.
Why an intranet? Why not simply make use of the World Wide Web, given currently existing corporate computer structures allow for such connections? The establishment of an intranet would automatically give an additional level of secrecy and protection from viruses and external security threats…
The grade that I would like to earn in this course is an A. The reason I set this goal is simply that if I aim for an A, I will put forth my best effort. The objective may or may not be reachable, but in my case there is no downside to trying for an A, no real tradeoff that I need to consider. Failing to achieve the goal will still result in a B. So some of the rules with regards to organizational goal-setting do not apply here.
In order to achieve an A in this course, there are several steps that I will need to take. The first step is to create a plan that outlines the steps I feel will earn me an A. I can create these steps based on past experiences of my own academic successes, and the advice of others who have experienced…
One cannot anticipate every possible bad -- or good -- scenario. Yet as cataclysmic as 9/11 proved, the recession that followed did not come from one cause -- planning and examination provided earlier hints of a slow down. One could argue that the overconfidence that the market could only go up during the heady days of the 90's tech boom, and the refusal to consider other possibilities not only contributed to 9/11's impact but sowed the seeds for recession just as much as the unexpected. Thus planning is still key, and planning if done efficiently can still be part of a speedy implementing strategy. One must always first look at what's important to a company and decide where the company needs to go. A company must identify business needs before deciding what the practices will be to satisfy those needs, and develop and implement an effective active plan only…
Kaelin, Mark. (13 Dec 2004) "Resources for designing, planning, and implementing." Tec Republic. Retrieved 26 Jan 2005. http://techrepublic.com.com/5100-6228_11-5479908.html
Lockwood, Gary. (1999) "Annual planning." Management Science. Retrieved 26 Jan 2005 http://www.bpubs.com/Management_Science/Strategic_Planning
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 in practice?…
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 plan;…
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.
Planning & Marketing Conferences & Workshops
The importance of planning
Getting feedback from others
Administering a workshop or conference
The details of work that can be done in conferences
Preparing for a conference
Facilities available at conferences
At the outset of this exercise, we must start by defining planning and this has been defined as a proactive decision making within an organization. The importance of planning and marketing can start an ongoing process that helps an organization to design the services to meet the needs of the customer. This helps in removal of the traditional focus on internal operations and to the expectations of the customer and convenience. There have also been suggestions from experts like Weygand in 1995 that marketing audit should be an ongoing process in every organization to find out the trends and changes that are taking place in the market. (Planning and Marketing) Nowadays the promotion budgets for most organizations are very tight…
Administration. Brigham Young University, 2002 Accessed 23 March, 2004 Available at http://ce.byu.edu/cw/cwplanco/admin.htm
Kelly, Lois. Use meetings and conferences in your marketing mix. March 1, 2002; PRIMEDIA Business Magazines & Media Inc. Accessed 23 March, 2004 Available at http://www.findarticles.com/cf_0/m3266/42_61/93702388/p1/article.jhtml
Kenneth, Kiesnoski. Trade show promotes African tourism. Travel Weekly. Oct 21, 2002, Accessed 23 March, 2004 Available from www.findarticles.com/cf_dls/m3266/42_61/93702388/p1/article.jhtml
Kleibacker, Kathryn. Making Conferences Work for you. 2002. Accessed 23 March, 2004 Available at http://www.internet-monitor.com/tip116.html
Planning the Needs of Other Organizations
Identify three critical success factors that Benefast Partners should consider for its HIS system.
Three critical success factors that Benefast Partners should consider as a part of their HIS system, these include that of having multiple partners, having a retirement plan for all employees and to have more of a Web interface available (Kavanagh & Thite, 2009, p. 98). When all of these are in place, the organization will run smoother, and have the capabilities of meeting the needs of those that are employees and customers better on a regular basis. Without considering these possibilities, the company will continue to lose money, and people will not have a retirement plan if one should go that route in the future. In essence, he or she would have to continue to work in order to save up the money, instead of having a 401(k) available to accumulate the…
Kavanagh, M., & Thite, M. (2009). Human resource information systems: Basics, applications and future directions. Thousand Oaks, CA: SAGE Publication, Inc.
Likewise, bid packages are documents that need to be as lucid and frank as possible. "Bid packages can be used in a number of industries, including business, it systems and telecommunications. But the most common industry where bid packages are used is construction. Basically, a bid package is a portfolio of all the documents needed to take part in an invitation bid. Those who will be bidding on the project can look at the bid package and determine if they fit the criteria. Bidders will need to meet the skills and qualifications listed, be able to complete the project on time and stay within the specified budget" (Tiffany, 2012). Such documentation can help all stakeholders in a given project have a clear understanding of what is requested, required and needed. All these facts are specified within the given context of the project scope and the timeline engaged.
In the simplest…
Fleming, Q. (2003). Project Procurement Management: Contracting, Subcontracting, Teaming. FMC Press.
Handfield, R. (2011, January 26). The Procurement Process - Creating a Sourcing Plan: Procurement: A Tutorial. Retrieved from ncsu.edu: http://scm.ncsu.edu/scm-articles/article/the-procurement-process-creating-a-sourcing-plan-procurement-a-tutorial
Lynch, J. (n.d.). Procurement Planning and the Procurement Plan: Why are they Important? Retrieved from procurementclassroom.com: http://www.procurementclassroom.com/procurement-planning-and-the-procurement-plan-why-are-they-important/
Murray, J. (2009, August 6). What is the Difference Between Arbitration and Mediation? Retrieved from About.com: http://biztaxlaw.about.com/b/2009/08/06/what-is-the-difference-between-arbitration-and-mediation-2.htm
Municipal Budget Analysis
The objective of this work in writing is to assess the budget of the Municipality of Chicago, Illinois in terms of how well budget documents and auxiliary information address each of these functions. The assessment will be substantiated with examples and information from documents studied. This work will examine a variety of sources including the most recent approved budget of Chicago, Illinois.
The City of Chicago 2011 budget includes provisions of no property tax increases and no new tax, fee, or fine increases to balance the budget. This is to effect that there will be no additional budget to residents already impacted by the recession. Secondly, included is the preservation of $576 million in asset lease funds to protect Chicago's future, which is inclusive of maintaining the entire $500 million Skyway long-term reserve. Third stated is the maintenance of the commitment to provide critical services to Chicago residents, which…
City of Chicago 2011 Budget. City of Chicago Organization Online Retrieved from: http://www.cityofchicago.org/content/dam/city/depts/obm/supp_info/2011BudgetKeyFacts.pdf
2006 American Community Survey. U.S. Census Bureau. Retrieved from: http://en.wikipedia.org/wiki/American_Community_Survey
Chicago Central Area Plan Foresees the Future (2002) Inside. 17-23 July 2002. Retrieved from: http://www.insideonline.com/site/epage/6087_162.htm
2006 American Community Survey. U.S. Census Bureau. Retrieved from:
Flexible Budgeting at Procter and Gamble
Managerial accounting class. Examine the budgeting process at a company. (use a us fortune 500 company) identify strengths and weaknesses of the company's Budgeting process.
Flexible Budgeting at Procter and Gamble
Budgeting process at Procter and Gamble
Procter and gamble uses a tailored budgeting process that is flexible to the ever changing realities in the business world. The budgeting process is preferred to using an outdated standard budgeting process that is stringent to the needs of the observable dynamism in the world of business. The budgeting process involves flexible roll out of forecasts that are adoptive to time dependent events in the market (Blocher, Stout, Cokins, & Chen, 2008).
ealistic long-term goals are used to achieve sustainable growth. Depending on the overall contribution of a business, different targets are made on the full budget portfolio. esearch and development and innovations in the plans and budget are included in order…
Axson, D.A.J. (2010). Best Practices in Planning and Performance Management: Radically Rethinking Management for a Volatile World. United States: Wiley.
Blocher, Stout, Cokins, & Chen. (2008). Cost Management. New York: McGraw-Hill Companies.
Ivo Welch. (2000). Views of Financial Economists on the Equity Premium and on Professional Controversies. The Journal of Business, 73(4), 501-537.
John G. Matsusaka. (2001). Corporate Diversification, Value Maximization, and Organizational Capabilities. The Journal of Business, 74(3), 409-431.
"Failure of any district to budget funds to meet statutory requirements is a very serious matter and will result in the executive county superintendent rejection of the budget. The district will be advised of any lack of budget approval with specific recommendations on necessary corrective revisions." (New Jersey Department of Education 2013, P 14).
3. Key Budget Terminology
There are numerous terminologies with regard to the school district budget. The most important budget terminologies are
The revenue is the money received by the school district within an accounting year. A fund is part of the revenue and there are four sources of revenue for the school district and this include:
Intermediate source, state, and Federal sources.
Expenditures are the expenses that the school district must fulfill within an accounting year. Part of the school district expenditures are the payment of teachers' salary, and travel expenses for the school staff
Balance sheet reveals the total…
Ernest & Young (2012).U.S. GAAP vs. IFRS the basics. Ernst&Young LLP.
State of New Jersey (2008).The Uniform Minimum Chart of Accounts for New Jersey Public Schools. Department of Education, Division of Finance.
New Jersey Department of Education (2013).Budget Guidelines Fiscal Year 2013-2014.Office of School Finance.
Salaries and benefits are cost drivers. If there is enough revenue to cover these things then one is in good shape, but if there is not then major problems will occur. There are a lot of hidden costs that are associated with not only maintaining but adding to current staff positions. Hiring new staff involves training and support in addition to salaries and benefits; advertising new positions; along with evaluating the need for additional office space, furniture, equipment, and supplies. You also need to consider that an expanded staff requires additional time for staff meetings, supervision, and coordination. Making sure that your institution has staff is a vital aspect of doing business which makes the budgeting for this staff such an important component of any budget plan.
Schmidtlein, Frank A. (2001). Why Linking Budgets to Plans Has Proved Difficult in Higher
Education. In ASHE, Finance in Higher Education (pp.415-424). New York:…
Schmidtlein, Frank A. (2001). Why Linking Budgets to Plans Has Proved Difficult in Higher
Education. In ASHE, Finance in Higher Education (pp.415-424). New York: Pearson.
City of Park idge, Illinois: Budget Analysis
The budget for Park City, Illinois is complete with a table of contents, which identifies all pages by page number, and the page numbers are correct according to the table of contents. Included in the budget for Park idge, Illinois are the city's non-financial policy goals as well as these being stated in the Budget Message separate from departmental sections. Other planning processes are discussed addressing both short-term factors affecting the budgeting decisions and relating how these short-term factors affected the development of the city's annual budget. Included in the budget is information that sets out the city's priorities and goals for the year including issues facing the city's budget development along with the city's solution for addressing these issues. The present budget is compared to previous years. Included in the budget is an overview of the budget with summary information clearly labeled as…
Annual Budget Fiscal Year Ending April 30, 2012. Park Ridge, Illinois Budget Report. Retrieved from: http://www.parkridge.us/assets/1/Documents/Budget-Final%202011-2012.pdf
City Council Policy Statements Manual (2011) Park Ridge, Illinois. Retrieved from: http://www.parkridge.us/government/city_council_policy_statements_manual.aspx
egulatory requirements and their impact on the design and equipment for Better Bank.
A new facility being designed, built, with a grand opening next spring/summer 2012.
egulatory requirements impact for facility planning work to protect the builder or property owner. With most contracts the owner has the least amount of protection. egulatory requirements often help provide some modicum of protection for the owner. As in the case of the American Institute for Architects for example, contract terms should clearly define the obligations, rights, and consideration or benefits for all parties involved (. That includes the builder, architect and owner of the facility. The contract is a tool that can be used to provide evidence of the agreement terms in case there is a problem disputing any conflict. Often most facilities planning comes from business arrangements that are amicably achieved among parties. However in times of confrontation regulations help to safeguard not…
Appendix A Attached File of SmartDraw Gantt Chart
If a startup is being planned, the strengths and weaknesses are related mainly to the promoter(s) - their experience, expertise and management abilities - rather than to the project. The objective is to build up a picture of the outstanding good and bad points, achievements and failures and other critical features within the company.
Threats & Opportunities
The external threats and opportunities confronting a company, can exist or develop in the following areas:
The company's own industry where structural changes may be occurring
(Size and segmentation; growth patterns and maturity; established patterns and relationships, emergence/contraction of niches; international dimensions; relative attractiveness of segments)
The marketplace which may be altering due to economic or social factors (Customers; distribution channels; economic factors, social/demographic issues; political & environmental factors)
Competition which may be creating new threats or opportunities
(Identities, performances, market shares, likely plans, aggressiveness, strengths & weaknesses)
New technologies which may be causing fundamental changes in products, processes, etc. (Substitute…
Periodic evaluations of strategies, tactics, and action programs are essential to assessing success of the strategic planning process. It is important to measure performance at least annually (but preferably more often), to evaluate the effect of specific actions on long-term results and on the organization's vision and mission (Rowley, Lujan, & Dolence, 1997). The organization should measure current performance against previously set expectations, and consider any changes or events that may have impacted the desired course of actions.
G) Competitive strategies
Unpredicted and unintended events frequently occur that differ from the organization's intended strategies, and the organization must
budgeting an adequate tool for planning and control in organizations and when should alternative approaches be considered? Is budgeting obsolete in the 21st century?
Starting with the last question first, although budgeting does seem to have its problems with it, and although it fails to produce results, nonetheless studies find that the majority of managers still turn to budgeting as means of conducting their business unable to surrender the system.
Criticisms against budgeting includes the following: (a) that they are too time-consuming; (b) that they are slow to detect problems; (c) that they are not reliable for performance management; (d) they are rapidly outdated; (e) the process lacks rigor; and (f) it disrupts cooperation.
Assessing, however, whether these factors persuade 21st managers to adopt replacement schemes, Libby and Lindsay (2007) discovered that more than 50% of the 212 Institute of management Accountants (IMA) members whom they surveyed in 2006 affirmed their reliance…
Libby, T. & Lindsay, RM (2007) Beyond budgeting or better budgeting? Strategic Finance, 47-51
Mitchell, M. (2005) Beyond budgeting: case studies in N. American financial services, Journ. Of Per. Man. 18, 1-13.
With, E. & Dijkman, A. (2008) Budgeting practices of listed companies in the Netherlands FindArticles, Management Accounting, Quar.
How many work weeks are in the project timeline, where work will actually occur?
The project timeline runs from 1 January 2017 to 31 March 2018. This implies that there are 65 weeks in total within this period. However, taking into consideration that there are three weeks for vacation, the number of weeks in the project timeline where work will actually occur is 62 weeks.
How much money does the team cost per hour?
There are 10 managers. The manager salary for an hour is $100. Therefore, the cost for managers per hour is $100 x 10 = $1,000.
There are 100 programmers and staff. Their rate per hour is $35 per hour. Therefore, the cost for programmers and staff is $35 x 100 = $3,500.
This implies that the team costs $4,500 per hour.
How much money does the team cost per week?
Every week contains forty working hours. Taking into account that the cost per…
Project Budget and Control
Preparing a Budget
Top-down budgeting is business-planning system whereby the budgeting process begins with information flowing from the very top of the organization down to the departmental or divisional levels within the organization. The top down approach could be used in a large organization that deals with a project they have done before. The reason behind using this approach would be the fact that this is a big project. Therefore, an overall estimate would be made of task that are higher in level and then those estimates of higher-level tasks are then used in setting limits of the costs of lower level tasks. The advantage of using this method is the fact that there will be no need of relying on low-level managers to come up with information on budgeting. Therefore, the business will allow lower level managers focus on their specific departments and hence do their level…
Project controlsonline.com (2012). Project Controls: What is it and why is it important ? Retrieved July 11, 2014 from http://projectcontrolsonline.com/Home/DefinitionandImportanceofProjectControls.aspx
Encourage more school districts to implement school breakfast programs by providing a 50% increase in the state's reimbursement rate for school breakfasts. (WG, 2006)
The California budget includes $400 million to implement a broad strategy to ensure that California is ready for public health emergencies and is properly equipped to handle them. This funding will enable the state to increase patient care capacity (also known as "surge capacity") to achieve the levels recommended by the federal Centers for Disease Control and Prevention (CDC) and the Health esources and Services Administration (HSA). In the past, California has responded to "moderate" local or regional public health emergencies, such as a fire, flood, explosion, or earthquake, with up to 10,000 casualties over a limited period. Measured against federal HSA benchmarks, California needs to increase response capacity in some areas. Emergency planning experts agree that the most critical element in preparing for surge needs…
California Government (2006, May). Revised Budget Summary 2006-2007. Retrieved 9/7/06, at http://govbud.dof.ca.gov/
Wisconsin Government (2006, may). Wisconsin executive budget 2006-2007. Retrieved 09/07/06, at http://www.doa.state.wi.us/debf/ex
budgets of any major size will get most, but not necessarily all, of their money from taxpayers of several many sorts but the main goal of the agencies regardless of size and structure is to provide basic and needed services to the area they serve, whatever and wherever that may be.
While all budgets are quite similar in one form or another, they are all different in their own ways and this can include the aim(s) of the money to be spent, where the money will come from and the overall fiscal policy exercised within the budget including investment, tax rates and savings strategies.
Basic Description of each budget
Differences and similarities of each budget
Sources of evenues of each budget
Change of revenue accounts in the future
e. Budget's fit with mission of the domain
f. How to improve budget and/or revenue estimation for each budget
The author of this report is to compare and…
HHS. (2014, June 1). HHS Budget in Brief. Department of Health & Human Services.
Retrieved June 28, 2014, from http://www.hhs.gov/budget/fy2015/fy-2015 -
IRS. (2014, June 26). Forms and Pubs. Internal Revenue Service. Retrieved June 26, 2014, from http://www.irs.gov/
In this regard, Garner adds that, "A safety-smart leader realizes that while a $10 flashlight purchased in bulk at the local discount store may put out enough light to read a driver's license, a 20,000 candlepower light that sets the department back $90, may make all the difference in the world when the officer holding it faces an armed offender one dark night. Little things like that are not lost on the troops" (p. 92). In fact, as to budget priorities, Garner (1998) suggests that officer training and safety considerations should be at the very top of the police manager's list: "A competent police manager encourages and demands an organizational environment where safety is valued, taught and practiced. He mandates that supervisors and managers role model, inspect, reward and correct for safety. He assures that the very best safety training and equipment is made available to his personnel" (p.…
Borrello, a. (2009, March). In defense of the police manager. Law & Order, 57(3), 64-65.
Carrick, G. (2003, April). Traffic safety in the new millennium. Law & Order, 51(4), 44-45.
Coulton, G.F. & Feild, H.S. (1995). Using assessment centers in selecting entry-level police officers: Extravagance or justified expense? Public Personnel Management, 24(2), 223-
Garner, G.W. (1998, December). A leader's role in officer safety. Law & Order, 46(12), 91-92.
"Put it on paper," Cintron advises, and adds, "The first step to creating a budget is simple: put down on paper what you are spending your money on. That sounds easy, but it takes discipline and honesty -- in other words, do not omit anything, no matter how small" (76). In fact, many of the clients who seek out Cintron's advice simply guess at how much money they are spending each month without ever committing a single item to paper. By listing all expenses, though, even the trivial ones, people can make a decision concerning how important these expenditures are to their lifestyles and eliminate those that can add up without people realizing it. For example, Cintron also notes that, "Cut unnecessary expenses. Once you see [what you are spending] in black and white, you can figure out what you can cut. I call it going on a money…
Cintron, Ivan. 2000, May. "The Art of Savvy Budgeting." Black Enterprise 30(10): 76.
Hurricane Katrina and the Plan Efforts to educe elated Disaster Impacts in Future
The hurricane Katrina is one of the deadliest hurricanes to occur in the United States. The hurricane hit Louisiana, Florida, and New Orleans amongst other places. It led to losses, evacuation of people, loss of lives and many businesses came to stand still. New Orleans had flood preparedness systems, which did not help, and floods persisted for weeks. The tragedy was contributed to by the lack of risk preparedness systems. Scientists have estimated lower storm surges and small coverage of wetlands in the 20th century. The winds, surges, and wetlands help to weaken the powerful winds. The areas are still vulnerable to hurricanes and storms in the future due to the geographic location. New Orleans city is also sinking geologically rapidly. Lessons learned from the hurricane Katrina should be used for disaster preparedness.
Federal officials had too little…
Department Of Homeland Security Appropriations. (2008). New York: DIANE Publishing.
Daniels, R.D. (2006). On Risk And Disaster Lessons From Hurricane Katrina. New York: University of Pennslyvania.
Huddow, G.J. (2010). Introduction To Emergency Management. Atlanta: Butterworth-Heinemann.
Jenkins, O. (2009). National Preparedness. New York: DIANE Publishing.
Company is a corporate development, management, Information Communications Technology (ICT), and support consultancy firm, offering its clients solutions to confidently research, survey, set up, and profit from business, as well as other opportunities. The firm aids civil society, public, and private clients in developing required relationships, advances in bonds and securing the required support services and systems in a cost-effective manner, in order to run optimally and accomplish their specified goals. Our objective is providing our clients with essential professional services, to be utilized as a springboard for instituting their business, as well as offering them and others the flexibility of operating without an office; that is, they can simply avail themselves of our Virtual Office Service as a start. X Company's strengths include:
Human esource: Our Company is constituted of a esourceful Managers' team, with highly- qualified members having strong preference for knowledge generation, dissemination and utilization. As knowledge…
DoIT Project Management Advisor. (2006). Stage 2: Initiate the Project. Retrieved August 4, 2015, from http://www.pma.doit.wisc.edu/initiate/5/how.html
Personal finance at duke. (n.d.). What is a budget and why is it important? Retrieved August 4, 2015, from http://personalfinance.duke.edu/manage-your-finances/budget/overview
Shapiro, J. (n.d.). Budgeting Toolkit. Civicus.
Westland, J. (2011, June 23). Project Management: 4 Ways to Manage Your Budget. Retrieved from CIO: http://www.cio.com/article/2406862/project-management/project-management -- 4-ways-to-manage-your-budget.html
Alarm Fatigue esolution
Project Timeline from Implementation to Evaluation
Alarm fatigue resolution project is a critical project in the health care department and needs cautious implementation with minimal or no disruption of the daily activities in the care of patients. The approximate period for the implementation of this project and an evaluation thereafter will be three months. Four sequential processes will characterize project within the three months as follows:
Stage 1: Planning, ordering and putting up the implementation material and gathering the project implementation team (both technical and supportive) -- This will be done in the first three weeks. It is the first phase of this project and is vital for the realization of the entire implementation. Planning and gathering the project team together will allow sufficient time for consultation and discussion for this project and the way the implementation will continue as planned (Huber, 2010).
Stage 2: Identification of all the alarm…
Cleland, D.I. (1999). Project management: strategic design and implementation (3rd ed.). New York: McGraw-Hill.
Huber, D. (2010). Leadership and nursing care management (4th ed.). Maryland Heights, Mo.: Saunders.
Kerzner, H. (2004). Advanced project management: best practices on implementation (2nd ed.). Hoboken, N.J.: Wiley.
Advertising and Sales Strategy for Travel Agent Franchise
Before embarking on any business opportunity it is necessary to consider the viability of the business, including the way that the new venture may be marketed and the products sold. If a new business is a franchise, then it may be argued some aspects of the have already been developed and proof of concept exists. If a franchise has been chosen, for example Cruise Planners; An American Express epresentative, the potential franchise will still need to consider the way in which the business will be advertised and sales made. This franchise opportunity has been chosen as it requires a low initial investment.
The first consideration is the advertising plan, looking to assess what types of media may be used, and the best way of optimizing the budget available.
The budget for advertising is typically between 3% and 5% of the firms' sales (Visa, 2007).…
Dickinson, Bob; Vladimir, Andy, (2007), Selling the Sea: An Inside Look at the Cruise Industry, John Wiley & Sons
Florida-Caribbean Cruise Association (2012), Cruise Industry Overview - 2012, The State of the Industry, http://www.f-cca.com/downloads/2012-Cruise-Industry-Overview-Statistics.pdf
Franchise Opportunities, (2014), accessed at http://www.franchise.com / on 14th July 2014
Internet World Statistics, (2014), United States of America Internet and Facebook Users Stats, accessed at http://www.internetworldstats.com/stats26.htm on 14th July 2014
Nursing Case Study
Jane lives a very difficult life when it comes to the everyday implications that she has to deal with. Taking care of one child at a young age is difficult enough; taking care of six by the age of 26, seems to be nearly impossible. It is not surprising to hear that having six children that range from eight months old to nine years old, can become something that not only takes a toll on the soul, but also takes a toll on the physique and health. No matter how someone may seem to someone else, as is the case with Jane and her husband, if Jane does not feel comfortable with herself, and she does not see herself as being productive in society, or even in her own life, it can turn into a downfall situation in something that needs to be resolved at its source. In…
Rowen, L. (2009) Overview and summary: Obesity on the rise: What can nurses do?. OJIN: The Online Journal of Issues in Nursing. 14(1).
Jordan-Welch, M., & Harbaugh, B.L. (2008). End the epidemic of childhood obesity...One family at a time. American Nurse Today. 3(6).
Camden, S. (2009) Obesity: An emerging concern for patients and nurses. OJIN: The Online Journal of Issues in Nursing. 14(1).
Brown, I., Stride, C., Psarou, A., & Thompson, J. (2007). Management of obesity in primary care: nurses' practices, beliefs and attitudes. JAN Original Research: Blackwell Publishing Ltd.
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 related…
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.
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 even after…
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
Budget eport/Justification for Elite Property Management Headquarters
The Elite Property Management (EPM) has its headquarters along the Mass Avenue at the Penthouse premises. This is an extensive building that houses the headquarters and the entire staff that deals not only in the operations of the organization from this point but also has offices for the satellite branches that the organization has to make coordination of work easier. Adjacent to the headquarters are also three stores that the firm rents to help in central storage of property of the organization.
The total cost of renting these premises was pegged at $1,395,000 with the majority share going to the main building that holds the offices, $495,000. The two massive stores were allocated $450,000 respectively.
The space that cost the $495,000 for the year will help give 150 employees working spaces and the extra space that would be used for conference halls and refreshment areas. This…
Archer North & Associates, (2015). Benefits of Appraisal. Retrieved May 30, 2015 from http://www.performance-appraisal.com/benefits.htm
Kevin Coyne et.al., (2010). When You've Got to Cut Costs-Now. Retrieved May 30, 2015 from https://hbr.org/2010/05/when-youve-got-to-cut-costs-now
Budget Plan for $10 Million Fund Allocation
Positive economic development in any city in the United tates relies on the provision of effective, efficient, and strong infrastructures that will attract investment to generate job opportunities in the city. A central goal of any city is also to improve health outcomes for the residents to improve their health outcomes. City public officials should also provide safety and securities, and improve students achievements to enhance quality of human developments . However, a city officials are required to keep proper accounts of all income and expenditures to deliver high quality financial resources.
As a newly elected public official of the city of between 50,000 and 250,000 population, our goal is to attract investment opportunities in the city through effective use of budgetary control to meet the economic and health needs of the residents in order to enjoy 100% federal funds. Our goal is to also…
Sources of Payment, and Incremental Costs, Health Affairs.
Lunenburg, F.C. (2010). Financial Controls: A Safeguard Against Misuse of Public Funds. National Forum of Educational Administration & Supervision Journal. 27(4).
Nkuah, J.F. Tanyeh, J.P. & Asante, J.(2013). The Relationship between Financial Control Systems and Public Sector Efficiency in Ghana. International Journal of Advanced Research in Management and Social Sciences.2(7):209-235.
Malloy, L.C & Merkowitz, S.P. (2015). The Economic Impact of Expanding Medicaid. Healthy Economy.
Popovcic-Avric, S. Mizdrakovic, V. & Djenic, M.(2014). Budget Control and Fund Accounting. International Conference: XIV International Symposium .
Budgets and Budgetary Control: Benefits and Limitations
Budgeting is a basic feature of business that is used by any business or company in order to set up a company's future endeavors by engaging in financial planning. These budgets are prepared for main areas of any business including: purchases, sales, production, labor, debtors, creditors, and cash (Penning, 2009, p.363). Further, these budgets provide detailed plans of a business and its planned endeavors for foreseeable future, often planning for the next three, six, or twelve months. As any successful business cannot hope to remain so without a solid financial leg to stand on, the topic of budgets and budgetary control is simply one that cannot be avoided in the business world, and as such, many key areas and factors of budgeting and budgetary control must be understood in order to achieve success.
Key Areas and Factors of Successful Budgeting and Budgetary Control
Accounting Financial. 2012. Advantages and Disadvantages of Budgets. Web. Retrieved
from: http://accounting-financial-tax.com/2008/07/advantages-and-disadvantages-of-budgets-keuntungan-dan-kerugian-dari-anggaran / [Accessed on 28 March 2012].
Accounting for Management. 2012. Master Budget. Web. Retrieved from:
http://www.accountingformanagement.com/the_master_budget.htm [Accessed on 30 March 2012].
The reason for this shortfall, as noted by the Balance Budget website, emanates from pension costs, previously agreed to cost of living pay increases, rising health care costs overall and a general weakness in the overall economic recovery that has ensued, albeit very slowly, since the end of the so-called "Great ecession" period that ended in approximately 2009 for the nation as a whole. The balance budget website notes that the shortfall in question is equivalent to 20% of the total police officer salary budget, 60% of the total firefighter budget and over 100% of the city's expenses for their libraries and parks (L.A. Budget Challenge, 2013).
Los Angeles Mayor Antonio Villaraigosa, in this budget summary document, notes that budget shortfalls will be addressed through expenditure cuts and increase efficiency. He makes mention of "painful" layoffs but not addressing the real problem of employee-level costs per person being the issue will…
City of Los Angeles. (2012, October 29). The City of Los Angeles: LA City Controller: Adopted Budget. The City of Los Angeles: LA City Controller: Home. Retrieved April 16, 2013, from http://controller.lacity.org/AdoptedBudget/index.htm
City of Los Angeles. (2013, April 16). The Mayor of the City of Los Angeles. The City of Los Angeles: Office of Mayor: Home. Retrieved April 16, 2013, from http://mayor.lacity.org/Issues/BalancedBudget/index.htm
City of Los Angeles. (2013, April 16). The City of Los Angeles. The City of Los Angeles. Retrieved April 16, 2013, from http://www.lacity.org/index.htm
City of Los Angeles. (2013, April 16). The City of Los Angeles: City of Los Angeles Council Committees: Budget and Finance. The City of Los Angeles: City of Los Angeles Council Committees: Home. Retrieved April 16, 2013, from http://councilcommittee.lacity.org/budget/index.htm
Cash budget and target cash balance
The target cash balance is defined as the ideal cash amount a company intends to hold in its reserve at a given time. This figure seeks to strike a balance between the balance sheet costs of extremely little and too much cash. While a company with surplus cash at hand may misuse on investment opportunities, a company with poor cash will often be forced to make undesirable transactions to create more operating capital (Besley & Brigham, 2011). Individual investors are advised to set their target balance too. They may estimate at least the percentage of their holdings in cash to avoid such pitfalls.
Cash budget refers to the operating budgets and capital expenditures. It begins with the initial cash balances then cash inflows are added to the available cash. Cash outflows will then be subtracted to obtain the cash balance. If the cash balance falls…
Besley, S., & Brigham, E.F. (2011). Principles of finance. Mason, Ohio: South-Western.
Brigham, E.F., & Daves, P.R. (2012). Intermediate financial management. Mason, Ohio: South-Western.
Brigham, E.F., & Houston, J.F. (2012). Fundamentals of financial management. Mason, Ohio: South-Western Cengage Learning.
Ehrhardt, M.C., & Brigham, E.F. (2009). Corporate finance: A focused approach. Mason, OH: South-Western/Cengage Learning.
Operational Plan and Correlating Budget
The 4 West is an organization that delivers health care for the community. ecently, the organization has decided to replace the existing medical-surgical unit into a new acute care oncology unit. The oncology is a specialty in medicine that deals with cancer. The CNO (Chief Nursing Officer) has informed the nurse director that 4 west is to become a specialized oncology unit. Since the hospital is planning the transition from the medical-surgical unit to the oncology unit, the hospital will need a new operational plan and correlating budget to assist the hospital to deliver high quality healthcare at lower costs.
Objective of this project is to develop an operational plan and correlating budget for the hospital to assist in effective transition from the medical-surgical unit to the oncology unit,
Project Details and Data
To start the budget plan, it is critical to use the organizational previous salary expenses…
Bureau of Labor Statistics.(2014). Healthcare Occupations. Occupational Outlook Handbook. USA.
Clarke, S.P. & Donaldson, N.E. (2010). Chapter 25. Nurse Staffing and Patient Care Quality
Goodman, A.(2012). Oncology Nurse Staffing Is Variable and Multifactorial. Nursing News.
Risk Sales Forecast
Budgeting, Sales Forecasts, and Ethical Consideration
Sales forecasts and the budget preparation process in general, serves as a cornerstone for effective operations management. hen this practice is performed with strict adherence to good business ethics it is one of the key components of the entire business planning process. ith reliable estimates the organization can plan appropriates. Financial planning and estimation includes forecasted sales and revenues, expenses, and required cash flow to operate the business.
The budget will then combine all of the different estimates into a comprehensive document that can be used to plan for the future and to make business decision. The first activity in the budgeting process is usually a sales forecast. Once an organization determines what their projected levels of sales will be for any period, they can then estimate the other expenses based on this forecast. Accuracy of the sales forecast therefore is paramount to the…
Decker, R., & Gnibba-Yukawa, K. (2010). Sales Forecasting in High-Technology Markets: A Utility-Based Approach. The Journal of Product Innovation Management, 115-129.
Todd, S., Crook, T., & Lachowetz, T. (2013). Agency Theory Explanations of Self-Serving Sales Forecast Inaccuracies. Sciedu Press, 13.
The traditional role of budgeting combines the need for planning and the development of a framework which can be used for control. This is achieved through the gathering of figures for the expected or desired revenue generation and the expected or desired outgoings associated with the generation of that revenue (de Waal et al., 2011). Two major forms of budget exist for commercial organizations; capital budgeting and operating budgets, the former deals with large long-term projects and investment, whereas operating budgets deal with the everyday operations of the firm or department (Horngren et al., 2010). It is usual for budgets to be prepared in advance of the period in which they will be applied, gathering the relevant information in order to create a budget. The most effective and potentially accurate budgets are those which have accurate input information, which often means consulting with relevant managers involved in the operations (Chenhall…
Chenhall, Robert H; Brownell, Peter, (1988), The effect of participative budgeting on job satisfaction and performance: Role ambiguity as an intervening variable, Accounting, Organizations and Society, 13(3), 225-233
Horngren, Charles T; Sundem, Gary L; Stratton, William O; Burgstahler, Dave, Schatzberg, Jeff O, (2010), Introduction to Management Accounting, Prentice Hall
Howell, R. A, (2004, July), Turn Your Budgeting Process Upside Down, Harvard Business Review, accessed at http://hbr.org/2004/07/turn-your-budgeting-process-upside-down/ar/1
de Waal, Andre; Hermkens-Janssen, Miriam; van de Ven, Arco, (2011), The evolutionary adoption framework: explaining the budgeting paradox, Emerald 7.
Program planning (Drafting purchase requirements and specifications)
- Evaluation of RPQs and RFPs
Contract management (monitoring & control)
Exhibit I- Consumption-based purchase planning
This paper has three main parts. Part one describes the process of purchase planning and the method through which medium and large organizations conduct purchase planning. Part two of the paper analyzes the main purposes of a procurement plan. The main purpose of a procurement plan is to integrate the procurement activities with the business and strategic level goals of the firm. It also enhances the competitive cost positioning of the firm and increases the level of coordination between different stakeholders in the supply chain of the firm. Part three of the paper analyzes three main components of a procurement plan. The last part of this paper presents the conclusion and recommendations aimed at improving the performance of procurement management.
usinesses engage in planning of their materials' management to achieve business-level…
Anderson, Matthew G., and Paul B. Katz. 1998. "Strategic sourcing." The International Journal of Logistics Management 9:1-13.
Arshinder, Arun Kanda, and S.G. Deshmukh. 2008. "Supply chain coordination: perspectives, empirical studies and research directions." International Journal of Production Economics 115: 316-35.
Kraljic, Peter. 1083. "Purchasing must become supply management." Harvard business review 61: 109-117.
Porter, Michael E. 1986. Changing patterns of international competition. University of California.
A static budget is defined as a budget that is "planned ahead of time based on the owner's best guess about future actual activity." This type of budget is therefore put together for the upcoming time period, and is often based on the data from past time periods, plus or minus different adjustments that management thinks will be necessary. In contrast, a flexible budget is one where the business management can make changes in the midst of an accounting period. Flexible budgeting allows for management to make better decisions on the fly, because the information used in those decisions is kept more up-to-date. Static budgeting relies only on the ability of management to analyze the numbers after the period in order to determine the magnitude and direction of variance, along with the causes of variance. For a flexible budget, management can identify issues with the budget right away, and take…
Mueller, D. (2012). Static budget vs. flexible budget. eHow. Retrieved September 12, 2012 from http://www.ehow.com/info_7784641_static-budget-vs.-flexible-budget.html
Bigelow, L. (2012). Static vs. flexible budgets for new businesses. Houston Chronicle. Retrieved September 12, 2012 from http://smallbusiness.chron.com/static-vs.-flexible-budgets-new-businesses-20879.html
Wedding Market Planning
Developing a market plan and strategy for weddings is a challenging endeavor, primarily because it is a highly-differentiated industry that interestingly requires the planner to establish linkages to different kinds of industries. While it is highly specialized as a business, the business owner or planner must be savvy enough to know other businesses as well to remain competitive in the wedding planning business. Market planning and strategy in the wedding industry requires the individual to have an almost innate talent and skill for identifying the specifics and details required to plan and realize a wedding. Thus, for the business owner / entrepreneur / wedding planner, s/he must be both a generalist and a specialist: generalist, because s/he must be able to envision and visualize the overall result of the wedding plan, and specialist, because s/he must be a master of details and linking these details together to create…
Adler, H. And T. Chien. (2004). "The wedding business: a method to boost food and beverage revenues in hotels." Journal of Foodservice and Business Research.
Terrell, E. (2004). "Wedding industry research." Business Reference Services Website. Retrieved on 10 August 2012. Available at: http://www.loc.gov/rr/business/wedding/
"Wedding statistics." (2012). Association for Wedding Professionals International Website. Retrieved on 10 August 2012. Available at: http://afwpi.com/wedstats.html
PetCo Workforce Planning
Workforce planning at Pet-Co
The Importance of Workforce Planning
Linking the Needs of Staffing With Workforce Planning
The Importance of Workforce Planning At Pet-Co
General information about Pet-Co
The Business Model Analysis of Pet-Co
The Pet-Co strategy
Company Profile in a Nutshell
The Workforce Planning Model
Setting the Strategic Direction
Conducting a Workforce Analysis
The Demand Side of WorkForce Planning
The supply side of workforce planning
Workforce Demand Forecast
Workforce Supple Forecast
Conducting Gap Analysis
Monitoring, Evaluation and evision
Functional Considerations of Workforce Planning
The Application of Workforce Planning Model at Pet-Co
Organizations today are formed on an on-going assumption, which emphasizes that a particular organization is formed with an aim to operate forever. Hence the organizations are well versed with the tactics and strategies that will facilitate their way to function profitably in the long run. In the similar context the organizations are also aware of the fact that they may engage in capital investments and may erect spacious and beautiful buildings but…
Anderson, M.W. (2004). The Metrics of Workforce Planning. Public Personnel Management, 33(4), 363+.
Helton, K.A., & Soubik, J.A. (2004). Case Study: Pennsylvania's Changing Workforce Planning Today with Tomorrow's Vision. Public Personnel Management, 33(4), 459+.
Horkan, N., & Hoefer, E. (2000). Workforce Planning at DOT. The Public Manager, 29(1), 13.
Jacobson, W.S. (2010). Preparing for Tomorrow: A Case Study of Workforce Planning in North Carolina Municipal Governments. Public Personnel Management, 39(4), 353+.
Strategic Planning for usiness
The objective of this study is to examine the importance of strategic planning for business. Toward this end, this study will conduct a review of the literature in this area of inquiry.
Zuckerman (nd) writes that the concept of strategy 'has roots in both political and military history, from Sun Tzu to Homer and Euripides. The word 'strategy' comes from the Greek 'stratego', which means to 'plan the destruction of one's enemies through effective use of resources'." (p.5) Many of the terms that are associated with strategic planning including "objective, mission strength and weakness' are reported as having been developed by or used in the military." (Zuckerman, nd, p.5)
The work of Swayne, Duncan, and Ginter (2008) state that "strategic planning defines where the organization is going, sometimes where it is not going, and provide focus. The plan sets direction for the organization and -- through a common…
Lawler, JE (nd) The Importance of Strategic Planning. Practical Decisions. Retrieved from: http://www.practicaldecisions.com/strategic-planning.pdf
Business Planning Papers: Developing a Strategic Plan (2012) Planware.org. Retrieved from: http://www.planware.org/strategicplan.htm
Zuckerman (nd) Is Strategic Planning Still Relevant? Chapter 1. Retrieved from: http://www.ache.org/pubs/Zuckerman_Ch1.pdf
regional planning, some examples, which will be used, are the Tennessee Valley Authority, Regional Planning in New York City and its surrounding counties and the Appalachian Regional Commission. Regional planning is an important factor, which have to be considered by the government and its authorities. Regional planning departments should be formed in the countries all over the world so that these departments can work in the best interests of the people and can provide them with the better standard of living with in the country. Planning is an initial process in order to gain success and prosperity in any area; regional planning departments are formed for the purpose of serving the people for providing them with better housing and living facilities.
The start of any planning process is to develop a Planning Committee. The committee should consist of no more than seven people that come from a variety of backgrounds.…
As retrieved from Appalachian Regional Commission http://www.adeca.alabama.gov/content/adm/arc/arc.aspxOn May 1ST, 2004
As retrieved from About ARC History of ARC
On May 1ST, 2004
In this case, the researcher will engage open-ended questionnaires for participants who will be far away from the researchers. For the samples within the vicinity of the researcher, unstructured interviews will be effective (Leverett, 2010).
This study will follow the below timeline:
Preparation of research proposal
eading numerous literature
Deciding the final objectives
Drafting the literature review
Secondary data collection data analysis
Development of research approach
Developing research methodology
Organize the survey
Conduct the survey
Compile and verify the research paper
Submit the research paper
evision of the draft after feedback
Printing and binding the research paper
Submit the final research paper
To ensure the validity of the research, it is crucial to take consideration of ethics for the matter. This is particularly fundamental for any research that involves interaction with individuals of a community. This paper will consider various ethical issues such as confidentiality, voluntary participations, and anonymity likely to…
Al-Ankary, K.M., & Bushra, -S. (2009). Urban and rural profiles in Saudi Arabia. Berlin: G. Borntraeger.
Food and Agriculture Organization of the United Nations (2008). Regional decentralization for agricultural development planning in the Near East and North Africa. Rome: FAO.
Leverett, F. (2010). The Road Ahead: Middle East Policy in the Bush Administration's Second Term. Washington: Brookings Institution Press.
Mufti, M.H. (2011). Healthcare development strategies in the Kingdom of Saudi Arabia. New York: Kluwer Academic/Plenum.
HIT System Planning
This study examines the four phases of HIT systems, the key members of the steering committee and why they are important, and the importance of needs assessment. HIT is the abbreviation for Health Information Technology, which is stated to have four steps to adoption including; (1) planning; (2) selection; (3) implementation; and (4) maintenance. (American Medical Association, nd) This work examines specifically a long-term care facility adoption of Health Information Technology (HIT).
Preparation includes daily operators that are changed by Health IT including provider workflow, nursing workflow, billing process, front desk process, scope/complexity of IT infrastructure and revenue/expense mix. The changes begin by defining the organization's needs in terms of what is needed by the HIT. Secondly, it is important to determine the organizational readiness and to gain the information concerning other individual's "experience and lessons learned while implementing and using health IT. Current processes should be documented during…
A Roadmap for Health IT in Long-Term and Post Acute Care (LTPAC)(2010-2012) A Roadmap for Health IT in Long-Term and Post Acute Care. Retrieved from: http://www.ahcancal.org/facility_operations/hit/Documents/RoadMap20102012.pdf
Electronic Medical Records System and Health Information Exchanges for Long-Term Care (2006) NYAHSA Spring Institute & Exhibition Presented on May 23, 2006. Retrieved from: http://www.sigmacare.com/pdf/NYAHSA_Presentation_052306.pdf
Health information technology: System selection and planning (nd) PWC. Retrieved from: http://www.pwc.com/us/en/health-industries/providers/services-solutions/health-information-technology-system-selection-and-planning.jhtml
Health IT Quick Reference (nd) American Medical Association. Retrieved from: http://www.ama-assn.org/ama1/pub/upload/mm/472/hit-quick-reference.pdf
All the personal and traffic data will only be accessed by authorized employees of our organization, who are to access the data to fulfill their duties. Our policy will be to protect all the data in the database from unauthorized access. Our data retention policy is to keep all data and metadata properly to prevent unauthorized access.
In line with our data retention policy, our organization will protect the privacy of our entire customer in our database.
We will implement policy to prevent accidental loss of data.
To prevent accidental loss of data, we will implement data recovery plan that will quickly recover all data in case of accidental loss. There would a back up for all data. (Wende, Kristin, 2007).
Our organization will refrain to share or collect data through the public emails. All the data will be shared through the corporate emails and all employees must use the intranet to share…
Berson, a. & L. Dubov (2007). Master Data Management and Customer Data Integration for a Global Enterprise, McGraw-Hill.
Duvall, L (2011). Jump Starting Data Governance: a Program Manager's Story. The Fifth MIT Information Quality Industry Symposium: 13-15.
Thomas, G. (2010).The DGI Data Governance Framework. The Data Governance Institute.
Illinois State Board of Education (2011). Data Governance Program Scenario. Illinois State Board of Education. USA.
Flexible Budget for Yum Brands Inc.
Flexible budgeting allows a firm to look at different potential scenarios, often this may be undertaken for an optimistic, pessimistic and most likely scenario. Firms will often undertake forecasting exercises; these may be based on complex approaches to assess likely demand, for example, considering past patterns of sales, the impact advertising they will have and other factors such as the influence of the economic climate, competition and social factors. However, forecasts are unlikely to be fully accurate, the development of a flexible budget allows the firm to look at different scenarios, and create a more flexible approach towards planning. This can be particularly important when the firm is planning for a longer period of time, such as a full financial year, this can be seen by preparing a flexible budget for a well-known company. Yum! Brands is a large corporation which develops, operates and franchises…
McDonalds, (2013), Shareholder Information, accessed http://www.aboutmcdonalds.com/mcd/investors/shareholder_information.html on 4th Jan 2014
Trading Economics, (2014), U.S. GDP Growth Rate, accessed http://www.tradingeconomics.com/united-states/gdp-growth on 4th Jan 2014 from Yum! Brands Inc., (2013), 10-k for 2012, Yum Brands Inc.
Yum! Brands Inc., (2011), 10-k for 2010, Yum Brands Inc.
General Electric (Collis, Montgomery, 2008) pioneered the development of this framework, working in conjunction with the oston Consulting Group to tailor its specific market sizing and profitability measures to the conglomerate of businesses that comprised GE at the time. One of the key assumptions of the CG Growth/Share Matrix is that there must be continual monitoring of the market, specifically competitors and relative market share growth over time. Only by continually measuring and monitoring these two attributes can the Growth/Share matrix be an effective framework for strategic planning. GE, through their Crotonville Learning Center in Connecticut also defined a series of external customer-facing processes that managers at GE could use to gain the critical information they needed to populate the CG Growth/Share Matrix and use it as a planning tool. Soon other larger multinational corporations (MNCs) with complex value chains and series of unrelated businesses also relied on the…
Stewart Adam, Andrea Vocino, David Bednall. 2009. The world wide web in modern marketing's contribution to organisational performance. Marketing Intelligence & Planning 27, no. 1 (January 1): 7-24.
Deborah F. Beard. 2009. Successful Applications of the Balanced Scorecard in Higher Education. Journal of Education for Business 84, no. 5 (May 1): 275-282.
Josh Bernoff, Charlene Li. 2008. Harnessing the Power of the Oh-So-Social Web. MIT Sloan Management Review 49, no. 3 (April 1): 36-42.
Rob Docters, Christine Durman, Tracy Korman, Bert Schefers. 2008. The neglected demand curve: how to build one and how to benefit. The Journal of Business Strategy 29, no. 5 (September 1): 19-25.
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:
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All the personal and traffic data will only be accessed by authorized employees of our organization, who are to access the data to fulfill their duties. Our policy…Read Full Paper ❯
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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,…Read Full Paper ❯