Assignment brief | Unit number and title | Unit 2 – Business Resources | Qualification | BTEC Level 3 Certificate, Subsidiary Diploma & Diploma in Business | Start date | September 2010 | Deadline | December 2010 | Assessor | L.McNeill | CRITERIA COVERED | | | P4, P5, P6, P7, M3, M4, D2 D3. | | | | | Assignment title | The Role of Financial Resources | Purpose: The aim of this unit is to develop learner knowledge of the range of human, physical, technological andfinancial resources required in an organisation, and how the management of these resources can impacton business performance. | Scenario:You are going to interpret a given setof financial information on aselected organisation. Domestic Dog Homes …show more content…
4) Create a Breakeven table and graph using the information provided belowThis provides evidence for P6 | Task 7For M4, you should show an awareness of the problems that can arise if costs are not controlled to budget. This can be demonstrated by looking at a given scenario and breaking down the various elements of the budget to determine why it is overspent and by identifying the problems that this will create for the selected organisation.This provides evidence for M4 | Task 8For D3, you will build on the evidence provided for M4. You will evaluate the problems you have identified from poorly controlled budgets by looking at the potential consequences for organisation arising from the budget variances.This provides evidence for D3 | Sources of information:Bevan J, Dransfield R, Coupland-Smith H, Goymer J and Richards C – BTEC Level 3 National Business StudentBook 1 (Pearson, 2009) ISBN 9781846906343Bevan J, Goymer J, Richards C and Richards N – BTEC Level 3 National Business Student Book 2(Pearson, 2009) ISBN 9781846906350Coupland-Smith H and Mencattelli C – BTEC Level 3 National Business Teaching Resource Pack(Pearson, 2009) ISBN
Compares five to seven expense results with budget expectations and describes possible reason for variances and strategies to keep results aligned with expectations
Assess strategies and methods used to minimise the harm to children, young people and their families where abuse is confirmed (M3). Justify responses where child maltreatment or abuse id suspected or confirmed, referring to current legislation and policies (D2)
I have made some progress regarding my action plan. I haven’t attended any open days as yet but planning to do so in June so far and completed my personal statement. My first action plan regarding higher education was to get distinctions in all my assignments. So
In this task, I will be evaluating how managing resources and controlling budget costs can improve the performance of a business. I will also be exploring the strengths and limitations of managing resources and budgets.
This research paper is a brief discussion of budget management analysis. Budgeting is the key to financial management, and is the key to translates an organization goals or plan into money. Budgeting is a rough estimate of how much a company will need to get their work done, and provides the basis for evaluating performance, a source of motivation, coordinating business activities, a tool for management communication and instructions to employees. Without a budget an organization would be like a driver, driving blinded without instructions or any sense of direction, that’s how important a budget is to every organization and individual likewise (Clark, 2005).
Physical abuse is defined as the use of physical force that may result in bodily injury, physical pain, or impairment. Physical abuse may include hitting, beating, pushing, shoving, shaking, slapping, kicking, pinching, and burning. Also, inappropriate use of drugs and physical restraints, force-feeding, and physical punishment of any kind also are examples of physical abuse.
Tissues are groups of cells, which are placed together to achieve a common function. There are four main types of tissue: Epithelial, connective, muscle and nervous. Most of these tissues are found in our bodies, however the epithelial tissue is covered all over the surfaces of the body.
Budgets serve five main purposes; planning, facilitating communication and coordination, allocating resources, controlling profits and operations and evaluating performance and providing incentives. The budgeting process requires both technical and interpersonal leadership skills to achieve each of these purposes effectively. The director’s memo demonstrates several short comings in the budgeting process. The director instituted the “responsibility accounting system” as a means of evaluating performance. However, the DPW director has not consulted Sam in the budget process. Sam understands that his total expenditures are impacted by relatively unpredictable events that contribute to an uncontrollable element of his cost. The
A budget can be disadvantageous also. There is judgment and subjectivity in the budgeting process. It does not consider quality and customer service. Budgets can be seen as pressure devices imposed by management, thus resulting in: bad labour relations. Budget could results departmental conflict arises due to disputes over resource allocation, and departments blaming each other if targets are not attained. It is difficult to reconcile personal and corporate goals
Mr. Gibson needs to set up meetings among subordinate managers and take into consideration more factors, such as sovereign and return risks, market conditions, and employee turnover ratios, to appropriately allocate the $4 million. Managers need to communicate at all levels in order gain insight of all the aspects of the situation through several discussions and negotiations. Mr. Mistri and other country managers should be been given a chance to give their feedback on the newly purposed budget. In this way, a more informative budget can be processed that better represents future expectations of the company that has its own unique situations. Mr. Gibson could better allocate the budgeting objectives between the countries by evaluating and incorporating sovereign and return risks
Performance measurement therefore, should establish to encourage the aim of the company and not individual or departmental goal. (Hannagan, 2008, p. 569)
Budget and budgetary control practices though very essential to meeting organizational goals, are mostly hastily and improperly prepared. This eventually leads to unfulfilled budget and budgetary control practices.