Budget Definition: An estimate of costs‚ revenues‚ and resources over a specified period‚ reflecting a reading of future financial conditions and goals. One of the most important administrative tools‚ a budget serves also as a (1) plan of action for achieving quantified objectives‚ (2) standard for measuring performance‚ and (3) device for coping with foreseeable adverse situation. What is a budget and why is it important? Simply put‚ a budget is an itemized summary of likely income and expenses
Premium Cost Term Expense
mortgage loan originators‚ head tellers‚ tellers‚ and administrative assistants. All branches are located within a 60-mile radius. TCCB has enjoyed strong financial success over the past few years but continues to look for ways to improve its performance. The strategic direction of the bank is reviewed annually at a meeting of top bank officials and outside consultants. The purpose of the meeting is to outline the vision and mission of the bank and to ensure all top managers understand and agree
Premium Balanced scorecard
1.1 – Evaluate the importance of performance and engagement with followers in an organization To me “Leadership means leading people for positive outcomes”. An effective leader may have many aspects but the relationship that exists between a leader and their followers is one of the most important aspects of leadership which can determine the success quotient in any organization. To evaluate the Performance in any organization would simply mean to understand the goals and objectives of the company
Premium Management Leadership The Unit
organization. It is very important to pre define the purpose of a meeting and accordingly note down the mojor points of discussion in the meeting. A formal meeting has the following advantages: a. Establish and clarify performance needs‚ review or improve performance needs. b. Pass on new information. Also‚ address issues related to process faults or system inadequacies. c. Reinforce safety requirements and procedures. Activity 2 1 What are ethics? Business ethics is a form of principles or professional
Premium Management Business ethics Meeting
. Providing a flexible work environment for employees benefits both the employee’s and employers. Flexibility creates a reduced stress environment‚ this increases productivity‚ loyalty and respect for the employer and management staff. It also allows the employees an opportunity to feel both respected and maintained‚ this increasing all-rounded improvement‚ it will also reduce the likely-hood of individuals resigning. Stress is an important part of the working environment‚ when individuals become
Premium Employment Management Organization
P5: Describe how budgets can be used to set targets to monitor and control an organisation To: Managing Director of Supper Fix From: Date: 28/11/13 This report is to discuss the ways in which targets can be set to monitor and control the organisation. Financial resources in a business can be obtained internally such as the profits from last year’s sales‚ or externally such as a bank loan‚ having management is these areas can ensure the objectives in an organisation are accomplished
Premium Management Budget Money
Aggregates and Flexible Volumes Module 2. Aggregates and Flexible Volumes Aggregates and Flexible Volumes Data ONTAP 7.0 (7G) Update Course Student Guide Do Not Duplicate – December 2004 2-1 Data ONTAP 7.0 (7G) Update Course Objectives At the completion of this module‚ you will be able to: – Describe the physical and logical attributes of aggregates and flexible and traditional volumes – Use the command line and FilerView to create and manage aggregates‚ flexible volumes and
Premium Data Outer space Volume
A PROJECT REPORT ON PERFORMANCE APPRAISAL AT SUMAN WORLD JOB ASSOCIATES SUBMITTED TO THE UNIVERSITY OF PUNE IN PARTIAL FULFILLMENT OF MASTERS OF BUSINESS ADMINISTRATION BY MANISHA KADAM MBA II JSPM’S ABACUS INSTITUTE OF COMPUTER APPLICATION‚ HADAPSAR‚ PUNE-28 (2012- 2013) UNDER GUIDENCE OF ASSISTANT PROFFESSOR SHITAL DESHMUKH ACKNOWLEDGEMENT ACKNOWLEDGEMENTS Preparing a project of this nature is an arduous task and I was fortunate enough to get support from a large number
Premium Human resource management Employment Sampling
Introduction & Background The Department of Motor Vehicles (DMV) provides vehicle and licensing services used by four million owners and operators in each of the state’s seventeen counties (Dresang‚ 2012). The mission of the Dept. of Motor Vehicles reflects its purpose—to provide excellent driver and motor vehicle services and to create a safe environment for its citizens to live‚ work‚ and play. However‚ the current situation of the DMV reflects a frustrating system due to the complicated and
Premium Marketing Customer service Customer
Budget Interpretation Budgets help to bring spending under control and lead the way for the development of plans that enable an organization to become or remain fiscally sound. For an organization to develop or maintain financial stability‚ it must understand the purpose of budgeting and how to apply the various budgeting techniques that will help promote and expand the business. Budgeting requires organizations to use financial projections to attract investors and secure grants or donations‚ which
Premium Management Budget Finance