Compare and contrast needs-based theories of motivation , whatsuggestion is the best advantage to the healthcare managers andexplain any disadvantage of management and leadership approaches tomanaging employee motivation and engagement.

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Patrina SchowalterLv2

28 Sep 2019

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Question 2: Budget (20 marks in total)

Kuipers Manufacturing is a medium sized company thatmanufactures and markets a range of products. The divisions ofKuipers Manufacturing include whitegoods, kitchenware and outdoorfurniture. The senior management team oversees the budgetingprocess. This includes the managing director, the financialcontroller, the manufacturing director and the marketing director.Jack Kohler the managing direct of Kuipers Manufacturing,recognises the importance of the budgetary process for planning,control and motivation. He believes that a properly implementedprocess of participative budgeting and management by exception willmotivate managers and their subordinates to improve productivitywithin their particular divisions. Based upon this philosophy,Kohler has implemented the following budgetary procedures:

A target sales revenue and target profit figure are determinedby the senior management team and given to each divisional managerfor the following budget year. Profit targets are based on targetedoverall increases in returns to shareholders and are assigned todivisions based on senior managementsâ expectation of whichdivisions need to improve in the coming year. Target sales revenuesare based on a percentage increase in the prior year's salesrevenues for each division.
Divisional managers develop their individual divisional budgetswithin the following constraints, as directed by the companyfinancial controller:
- The target sales revenue and profit targets can only differ by10 per cent, and this deviation must be clearly justified by thedivisional manager.
- All fixed commitments should be included in the budget. Fixedexpenditures include such items as long-term supplier contracts andsalaries.
- All capital expenditure projects that are undertaken indivisions at the direction of the senior management team should beincluded in the divisional budgets.
- An estimate of head office charges is provided to divisions forincorporation in their budgets.
- Division budgets need to specify all line items forexpenditure.
The final divisional budgets are approved by senior management,after scrutiny by the senior management team. Sometimes, as anincentive to motivate divisional managers, the estimated officecharges are increased which has the effect of reducing budgeteddivisional profits. Divisional managers are then asked to reviewtheir overall budgets to find areas of cost saving to meet t heirprofit targets.
The final budget is used as the basis of control for amanagement by exception form of reporting. Excessive expendituresby each division are highlighted monthly. Divisional managers areexpected to account for all expenditures over budget. Financialresponsibility is an important factor in the overall performanceevaluation of all managers. Kohler believes that the polity ofallowing the divisional managers to participate in the budgetprocess and then holding them accountable for the final budget isessential especially in time of limited resources. He furtherbelieves that the division managers will be motivated to increasethe efficiency and effectiveness of their divisions because theyhave provided input into the initial budgetary process and arerequired to justify any unfavourable performance.

Required:

Prepare a report to the senior management team that outlines theadvantages and limitations of participative budgeting. In yourreport describe the deficiencies in Kuipers Manufacturing budgetaryprocess. Recommend how each identified deficiency can be corrected.(500 words maximum)

cerisecrocodile161

Workshop Three - 3.4 Integrated Strategic and Financial Planning

This assignment will involve 'Concept Three: Integrated Strategic and Financial Planning' of Best Practice Financial Management.

Concept Three describes the leadership required for effectively integrated planning, the integrated planning process, and the components of a high-quality plan. It presents the organizing principle that should be used throughout the process and takes readers through key process steps. Steps include identifying and selecting strategic initiatives based on solid market data and consideration of risk, estimating capital requirements through a multiyear financial plan that links strategies to capital requirements, determining capital sources, and determining the level of profitability required to close the capital shortfall. It also describes the techniques leaders can use to test the reasonableness of their goals and projections and enhance the effective implementation of the integrated plan. A case study example at the end of the chapter describes one organization's implementation of the best practice planning process

Write a 2-4 page paper discussing the issues and outcomes of Community Hospital Healthcare System (CHHS), giving a brief overview of its initial plans and how those plans were altered after careful evaluation of the facilityâs finances. The paper should discuss the various approaches the organization used to develop new goals and reasons for altering its original plans.

(Accounting for Managers)

Zero-based budgeting requires managers to build budgets from the ground up each year. Participatory budgeting is a budgeting process that starts with departmental managers and flows through middle management and up to top management. Each new level of management has responsibility for reviewing and negotiating any changes in the proposed budget. You must understand this process and the different types of budgeting available in order to participate in this weekâs discussion. Please respond to all of the following prompts in the class discussion section of your online course:

a.)Describe how you personally have participated in a budget development process. This can be personal or business. How did you make decisions regarding setting the budget?

b.)Explain some examples of the behavioral implications of budgeting.

c.)In your experience, what are some advantages of budgeting?

Please respond with original source not used before(not copied and pasted, as word document not attachment, thank you. answer indepth to the questions.

lilacsquirrel129

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