Budgeting as a form of management control Essay

Budgeting as a form of management control - Essay Example Budgeting is a very useful tool in businesses. The benefits to be gained from budgeting are numerous and are available to all companies inclusive of Production Solutions Ltd. It ensures the achievement of the organisation’s objectives (BPP 1998) by forcing managers to carry out an assessment of what may happen in the future and set detailed plans for achieving the targeted results for the functional departments in the organisation. It also takes into consideration the problems that are likely to be encountered. Budgeting communicates ideas and plans (BPP 1998) so as to ensure that each employee that is affected by the plan is aware of his or her role in helping the organisation to achieve its goals. Communication can either be two-way or one-way. Two-way communication allows for dialogue until an understanding exists of what exactly needs to be done. One way communication takes place when management gives instructions or orders to subordinates to perform a task.Budgeting can a lso coordinate activities among the various departments at Production Solutions Ltd to ensure that there is full integration of the efforts to achieve the goals that have been set. In this respect the sales expected will be communicated in the sales forecast and the production department will base its production plans on the sales forecasted. The purchasing department will plan its purchases based on the amount of buffer stock it needs to maintain at all times and in conjunction with the production plan. Budgeting can provide a framework for responsibility accounting (BPP 1998) by making the different functional departments or budget centres at Production Solutions Ltd responsible for achieving their plans for the operations under their control. Budgeting can also establish a system of control by way of managers comparing the actual results with the plan (BPP 1998). Any deviation from the plan needs to be investigated and appropriate actions taken to close the gap between the result s and the plan. Additionally, budgeting can be used to motivate employees to improve their performance by offering them rewards if they meet their targets. BPP 1992 suggests that two levels of attainment should be set so as to challenge employees. â€Å"A minimum expectations budget and a desired standards budget which provides some sort of challenge to employees†. The appraisal system lets them know how badly or how well they are doing and what they can do to improve performance if they are performing below standard. The cash budget will indicate cash surplus and cash requirements. Therefore, management can make decisions on how to address the shortfall where this exist. The cash budget for the Company suggests that it may not be a good idea to carry out the plans noted as it could place the company in a worse position than it is in currently. The increased sales and the resultant changes in the credit terms will affect the profits and the cash flow position respectively. At tention should be placed on preparing a master budget which will link or integrate the various functions in the organisation. A master budget is an essential management tool that communicates management’

Police Administration Structures in America Essay

Police Administration Structures in America - Essay Example The principle divergence is in the professional ethos. The early reformers had rallied around the military analogy of conducting a "war on crime." Adoption of the new model of administration structure is viewed as a means of improving the image of police officers and carried with it the more "modest" aim of controlling or preventing rather than defeating crime. The police administration structure is old fashioned based on bureaucratic principles and norms. The pervasive effect of task complexity on structure is highlighted by Newborn (2003). The task is viewed as so complex and variable as to require highly skilled professionals who are able to exercise discretion and interact in a collegial manner and collaborate on solutions. The administration structure that prescribe is spatially differentiated to allow informed neighborhood-level problem identification, and hierarchically undifferentiated to facilitate collegial, participative staff interaction, and has little or no structural specialization (either occupational or functional) in police operations so as to further encourage professional responsibility (Riener, 2000). Span of control, for example, ranges from wide to narrow; number of levels of authority ranges from few to many; degree of centralization in decision-making from low to high; and so on, depending on where the organization is on the organic-mechanistic continuum (Newborn, 2003). These organizational structures are more or less appropriate, depending on the nature of the task and the nature of the community. Mechanistic organizations are better suited to routine tasks performed in stable environments, and that organic organizations are more appropriate when the tasks are less routine and the environments less stable (Riener, 2000). First is the view that the bureaucratic model is presently the dominant form or that police administration organizations tend to be too far out on the bureaucratic end of the continuum.

Group characteristics and development Essay Example | Topics and Well Written Essays - 500 words

Group characteristics and development - Essay Example Role of branch coordinator was to manage the branch, reporting to top management, looking after inventories, admissions, daily expenses account and fulfilling of targets. Role of faculty was providing customized service to every student, looking after academic related services and other staff for managing other activities like front and back end work, marketing etc. Rules come out with the positions. The group focused in delighting customers, fulfilling targets and working efficiently and effectively by being fully responsible for one’s work and maintaining good work culture. If any member violates this rules he/she would be warned once and if repeated, rewarded shown a pink slip. We also follow negative punishment method and appraisal method related to quality of work done in a month period. If we look at personality, then everyone have different personality and attitude because of different reasons, may be status, age, position, experience, education, intelligent quotient, etc. Anyone can approach the top management for any issues or confusions and way of interaction was formal. Some of them are very quiet and others are very aggressive as everyone has their own view of looking at the matter. Sometimes, unmanageable situations arise and it’s difficult to delight every member in a group. But we come out with a solution through brainstorming and feedback process involving each member in an organization that can at least satisfy each and every member in a group. A group in which I worked was different because, in my group there was high satisfaction level among each member, efficient and effective coordination among group members, mutual understanding, transparency, and a work culture that one will love to work with. Only problem faced by employee was that the management was unable to manage the branch properly and less decision making authorities were allocated to the ground level

Fundamentals of Corporate Finance Term Paper Example | Topics and Well Written Essays - 500 words

Fundamentals of Corporate Finance - Term Paper Example According to the research findings, it can, therefore, be said that the overall return on equity of the company has experienced a mild increase such that it climbed up to 16.20% in 2008 from 13.69% in 2006. A major factor which boosted such increase in ROE is the rising financial leverage despite the fact that the net profit margin and asset turnover of the company have declined. Thus, it can be concluded that the increase in both net income and equity in all the three years have effectively contributed to the higher return equity ratio of the company. The operating performance of the company is demonstrated by net profit margin. The net profit margin of the company has decreased from 2.36% to 1.91% in the period ranging from 2008-08. Although, the net income of the company has increased considerably, however, net sales of the company, has increased more than that of net income yielding in lower net profit margin. Due to the heavy increase in the total assets of the company, the tota l asset turnover of the company remained quite low as the total assets could not generate the similar level of sales. In three years’ time, asset turnover of the company has reduced from 2.62 times to 1.55 times. Financial leverage of the company has increased significantly because of the increase in total assets and stable equity position of the company. It experienced an increase from 2.21 times to 5.44 times in these three years which is more than double, contributing significantly to the overall return on equity of the company.

Flexible Citation Essay Example | Topics and Well Written Essays - 250 words

Flexible Citation - Essay Example In his article â€Å"Godmother of cocaine gunned down in Colombia†, Lee Ferran of ABC news does acknowledge all his sources. He does it in an informal but effective way by using both hyperlinks and mentioning his sources in sentences. Lee must have been aware of the consequences of plagiarizing material hence using this approach. This approach saves a lot of space as well since there is no need for a bibliography. The method is effective in the sense that many readers prefer to click on a link than go through a bibliography and type long URL’s in their browser. Another writer who does not cite or acknowledge her sources is Hariette Surovell in her article â€Å"Queenpins of the Cali Cartel†. The article does not conform to any specific citation technique as well. It looks more of a blog post thus explaining why Harriet did not follow any citation technique. This technique is in a way effective since at the end of the post Harriet states that she is from the U.S library of congress. This maybe explains her source of

Is International Relations Simply International History If Not Why Essay

Is International Relations Simply International History If Not Why - Essay Example International relations involve the relationship that exists between sovereign states and nations. International relations usually encompasses the responsibilities that member states, countries, foreign international companies, government institutions and non-governmental institutions partake in ensuring that a cordial relationship exists among them (Ole1989). Some critiques have viewed this relationship as outdated and one that has no positive impact on member states. On the other hand, supporters of International relations believe that this relationship has proved beneficial to nations that have adopted it and is still embraced by many nations that believe in the importance of international relationship. International relations has enabled the solving of issues such as those related with globalisation, international security especially concerning terrorism, preservation and conservation of the environment particularly global warming, political issues, economical issues and human ri ghts violation especially in nations where genocides have occurred. International relations are an important concept in the modern society internationally particularly because this is the era that is dominated by digital technology and advanced technology in form of communication and transport. This has therefore necessitated the need for good cordial relationship among nations especially because of the need for peaceful collaboration between countries (Guzzini 2001). I therefore argue that contrary to views that International relations is simply international history, the relationship is still being embraced by many countries and is here to stay because of the benefits the relationship accords members. The global world has experienced numerous changes in the recent past especially after the end of the Second World War. Many nations have acknowledged the need for good international relations for not only security reasons but also other reasons such as economic prosperity, promotion of human rights and for environmental conservation. The international relations have especially been embraced by international non-governmental organisations and other private bodies such as World Bank, International Monetary Fund, United Nations and International Labour Organisations. These international interactions are becomingly progressively more distinguished by non-government actors such as the World Bank, and International Monetary Fund, a lesser need for military power and in the decline in the power of the state. Historically the concept of international relations was first embraced globally after the establishment of the United Nations body especially to address issues related to human rights violation. This was particularly in relationship with Second World War where human rights were greatly violated by nations that took part in the war. Since then the world has experienced the establishment of various global organisations to address political, social, humanitarian and economic issues. In accordance with human rights violation, even though there has been incidences in which human rights violation have been experienced the world in general has made major steps in ensuring human rights are protected by member nations. This is particularly demonstrated by the strides that the international court of law has made in ensuring that those involved in the violation of human rights are punished for their crimes. For instance, former Liberian President Charles Taylor was accused of committing crimes against humanity. Another example is

Concealed Carry Laws Essay Example | Topics and Well Written Essays - 1250 words

Concealed Carry Laws - Essay Example Sub-point 1: Crime rates are lower in states with concealed gun carry laws. Sub-point 2: Crime rates have not worsened in states with concealed gun carry laws. Main Point 2: Banning firearms does not reduce crimes. Sub-point 1: No positive association between gun ownership and violence. Sub-point 2: Studies do not show that gun control laws have reduced crimes. Main Point 3: Cross country history and experience show allowing concealed weapons carry does not make societies less peaceful. Sub-point 1: Among countries, gun control laws are not associated with peace. Sub-point 2: Gun ownership and murder rates are not correlated across countries. Conclusion Based on evidence, there is good basis not to reverse the gains American society has made in allowing the carry of concealed weapons for Americans to protect themselves. The advances in concealed weapons laws have been beneficial and not dangerous for America. Concealed weapon carry laws: Are they beneficial or dangerous for America? Introduction A center known for its being vocal against laws allowing the carry of concealed weapons, the Violence Policy Center, has pointed out that the â€Å"gun lobby’s priority has been establishing and expanding state laws that allow the carrying of concealed handguns by private citizens† (2009, p. 3). According to the center (2009, p. ... The Violence Policy Center has been very concerned and identified three key data on why concealed weapons carry laws are dangerous for America. First, according to the Violence Policy Center (2009, p. 4), â€Å" over the two-year period May 2007 through 2009, concealed handguns permit holders have slain seven law enforcement officers resulting in criminal charges or the suicide of the shooter.† Second, again according to the Violence Policy Center (2009, p. 4), â€Å"concealed handgun permit holders have slain at least 43 private citizens resulting in criminal charges or the suicide of the shooter.† And, third, according to the Violence Policy Center (2009, p. 4), â€Å"in six of the 30 incidents (20 percent), the concealed handgun permit holder killed himself, bringing the total fatality count to 56.† The Violence Policy Center’s concern for violence in America, particularly murders or homicide and suicide is certainly laudable. Indeed, it is the duty of today’s generation to see to it that every citizen is out of harm’s way. Indeed, it is an obligation of today’s generation of Americans to keep society safe and peaceful. Unfortunately, however, the basis for the Violence Policy Center’s concerns against the concealed weapons laws and the attribution the organization places on concealed weapons laws as responsible for the incidences of violence is anecdotal and unscientific. The Violence Policy Center’s arguments are like arguments that because consulting a doctor or being confined in a hospital have been associated with illness or death then society must ban doctors and hospitals because many people have died when they have