Unit 2 M4 Business

MODULES ALSO REDUCE THE DUPLICATION OF CODE WITHIN A PROGRAM..THIS BENEFIT OF USING MODULES IS KNOWN AS code reuse BECAUSE YOU ARE WRITING THE CODE TO PERFORM A TASK ONCE AND THEN REUSING IT EACH TIME YOU NEED TO PERFORM A TASK.

Budgets should not be a managers task only. The whole organization should be involved in the budgeting process.

In this final section I will evaluate how managing resources and controlling budgets can improve the performance of a business.

Guideline word count 450 - 500 words A.C. 2.3 - Describe strategies used to predict and manage disruption in resource supply and the associated costs Task 5 Explain how the use of both human and physical resources is recorded. Provide examples of typical reporting arrangements for each and their frequency. Describe at least two different methods of comparing actual resource usage against forecast requirements and identifying variances. Discuss the subsequent forward planning that leads from identification of variances, including examples of actions that may be undertaken as a result. Use practical examples where possible. Guideline word count 650 - 700 words A.C. 3.1 - Review progress of actual resource use against planned resource use A.C. 3.2 - Discuss methods of recording and reporting resource use A.C. 3.3 - Explain methods of using resource information to inform future actions CMI Membership Benefits CMI is the only chartered professional body in the UK dedicated to management and leadership. Membership of the CMI is designed to work for you and your learners during management studies and then beyond this on a day-to-day basis to aid the overall progression of your management careers. There are many benefits of membership, but for you and your learners in particular this comes to life with our tailored online support - via HYPERLINK http//www.managers.org.uk/practical-support/study-support

Since 2012 there has been 3 cases of adolescent suicide in Hillsborough County linked to bullying via cyber or face to face bullying. The most recent case was in 2015, a shuttering story that shook many families, and teens in our county. These cases could all have been prevented if caught early, and treated with the correct care of a guardian or administration. For this recommendation report I chose a middle, high school to research their anti- bullying rules, and ask if they could implement my ideas. As a whole Hillsborough County has a zero tolerance rule against bullying, but are they implementing action to keep this zero tolerance rule?

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)

A company's budget serves as a guideline in planning and committing costs in order to meet tactical and strategic goals. Tactical goals such as providing budgetary costs for daily operations, and strategic objectives that include R&D, production, marketing, and distribution are all part of the budgeting process. Serving as a guideline rather than being set in stone, the budget is a snapshot of manager's "best thinking at the time it is prepared." (Marshall, 2003, p.496) The budget is a method in which to reign-in discretionary spending, and will likely show variances between what costs have been anticipated and what costs are actually incurred.

In this report I will evaluate how managing resources and controlling budget costs can improve the performance of a business.

Playing the role of the budget agency head/director is not an easy task. Budgeting process involves a variety of actors whom their individual demands must be considered in the when making a budget request. Sometimes these actors

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

Budget formulation and use are tools that guide many decision making strategies in business. The measures that are least effective could create an avalanche of catastrophic events that can negatively impact the decision making strategies. It is in the best interest of the pertinent parties to draft an operating budget based on a collective set of information relating to organizational vision and mission. Ineffective measures can be catastrophic based on the foundation for measures used in creating the budget. Among the many issues organizations face that relates to creating an effective operating budget results from poor

Budgetary control is part of overall organisation control and is concerned primarily with the control of performance. The use of budgetary control in performance management has of late taken on greater importance especially as a more integrative control mechanism for the organisation. Discuss.

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).

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.

A “budget” is a “financial plan reflecting the business strategy and represents a more structured way of communicating it to the team”. The process by which a budget is built and agreed within an organisation is called “budgeting process” or “budgeting cycle”, that represents one of the most important financial planning tools. “This cycle always starts with a vision or a goal, based on which the approach to be used is chosen. The next step is the elaboration of the budget itself by allocating the right resources in the right place. It is very important to keep track of it (the sooner a variance is spotted, the better, as more time is available to understand it). The last stage is the evaluation process which should lead to future improvements”.