Wednesday, October 9, 2019
Leadership and nursing care management Assignment
Leadership and nursing care management - Assignment Example Scheduling and staffing in nursing care management is an aspect of management that poses a lot of challenges to managers. Formulating strategies to achieve the goal of bringing new nurses to the nursing profession and scheduling already recruited nurses is quite important to the profession. Employing forceful and well-researched scheduling tactics will tap the skills and competencies of qualified workers to the profession and on the right jobs (Seifert, 2000). After employing a new workforce, efforts must be taken to properly schedule the current nurses on the basis of their wealth of knowledge and expertise which are vital for assisting and developing trainee nurses into experts and sustaining qualified service delivery. The reason this topic is chosen is the negative physical and mental health consequences of poor scheduling on overworked health care employees. In addition, poor scheduling results in domestic problems as employees have little or no time for families and friends. Fi nally, low morale in employees due to overwork and lack of understanding and consideration from managers and administrators results in reduced productivity (Chin, 2008). This essay discusses the modern trends in staff and scheduling strategies as well as the challenges that these process pose to the management. Finally, it provides research based recommendations on how to solve problems of staff and scheduling in nursing care management. Implications of Staff Shortage on Scheduling Staffing plays a rather critical role in the operation budget of health care facilities. In fact, for many health care facilities, it has been established that up to between 50% and 70% of operation budget goes to staffing issues. It is thus a counterproductive trend or practice to ignore or underestimate the necessity of effective and efficient staff management strategies and nurse scheduling processes (Buchanan, 2002). In general, staffing and scheduling strategies and practices should not result in unc alled for overtime, lopsided caseloads and even staff suffering exhaustion. As is generally understood, unhappy or discontented staff implies unproductive and unprofitable business (Buchanan, 2002). For optimal staff scheduling practices that would yield happy and contended nurses, it is of the essence that a balance is struck between resident perceptions and the skill levels of the nurses in question (Buchanan, 2002). Importantly, health care managers should ensure that staff schedules are tightly connected to the needs and populations of the clients to be attended. Managers should be consistent in their scheduling, considering that no single nurse would want to work on holidays and every other weekend. Thus, there should not be any indications of favoritism in staff scheduling. This fairness would ensure no employee grumbles given that employees are the greatest asset that a health care facility may have. In addition, it pays for health care managers who ensure their nurses and ot her staffs are happy as this happiness would translate to better care and improved client outcomes (Buchanan, 2002). Numerous challenges are often encountered in staff scheduling, staff shortage being a key challenge. There is a wide spread shortage of registered nurses (RNs) in many countries including The United States of
Tuesday, October 8, 2019
Cybersecuirty Coursework Example | Topics and Well Written Essays - 250 words
Cybersecuirty - Coursework Example ese poor countries engage in any business to ensure their survival and that of their families, for example, the traffic or sell fake or pirated materials to get money. Also, there are little or no laws opposing piracy of materials or their laws are weak. Moreover, American laws cannot be enforced outside America. All these factors make software piracy levels elevated outside America. In my view, the first part of the response is biased. In disputing the SIMTRAYââ¬â¢s justification of hacking on the basis of intent, it shows you do not consider both sides of the hacking issue. The hacker may be engaging in hacking as a means of meeting his daily needs. This shows, even if, the action is wrong on one part, on the other; it is a way of survival. The responses also show you have a hard time understanding how hacking relates to GDP, income ratio and collectivist nature. In addition, the reactions indicate despite going through the simulation twice, you still do not understand the remailer
Monday, October 7, 2019
The Cylindrospermopsin Alkaloids Literature review
The Cylindrospermopsin Alkaloids - Literature review Example This review is initially focused on isolation of these natural products then moving on to environmental concerns regarding cylindrospermopsin alkaloids contamination before finally describing methods used in their synthesis (Murphy and Thomas, 2001) Figure one. The cylindrospermopsin alkaloids of cylindrospermopsin (1), 7-deoxy-cylindrospermopsin (2) and 7-epi-cylindrospermopsin (3). II. Isolation and Characterization Cylindrospermopsin (1), was extracted in 1992 from the cyanobacterium Cylindrospermopsis raciborskii and characterized by Moore and co-workers. The characterisation was done using a combination of NMR and mass spectroscopy. (Ohtani, Moore and Runnegar, 1992) In 1999 during routine purification of cylindrospermopsin using HPLC 7-deoxy-cylindrospermopsin (2) was discovered and characterised (Norris, et al., 1999). It was also believed that the newly discovered cylindrospermopsin derivative could exist in the form of two tautomers. The conclusion was drawn from the fact th at the vinylic proton of the uracil ring was not detected using 1H NMR technique (Figure two). However, the presence of the uracil group in (4) was proven by investigating the absorbance maximum (?max) that was observed for every sample of 7-deoxy-cylindrospermopsin (2). It was obvious that the natural material existed as a mixture of compounds but it was not possible to estimate the quantity of (2) (Looper, et al., 2005). Figure two. Proposed tautomeric forms of 7-deoxy-cylindrospermopsin (2). Discovered in 2000, 7-epi-cylindrospermopsin (3) initially was found to be synthesised by Aphanizomenon ovalisporum (Banker, et al., 2000). Taking into account the unusual tautomer enol existence of the uracil D ring, estimation of the relative stereochemistry of cylindrospermopsin (1) was made. The uracil D ring was intramolecularly hydrogen attached to a nitrogen terminus of the guanidine group as described in structure 6. The produced configuration was in correlation with the NMR evidence which led the research group to the structure 7 as the most likely description of cylindrospermopsin (1) (Figure three) (Heintzelman, et al., 2001). The correct stricture for cylindrospermopsin (1) and its epimer, 7-epi-cylindrospermopsin (2), were deduced by thinking about these alkaloids as uracil tautomers (Figure one). Figure three. Proposed structures of cylindrospermopsin (1) and 7-epi-cylindrospermopsin (3). III. Occurrence and Production of Cylindrospermopsin After the first isolation of cylindrospermopsin (1) from C. raciborskii in 1992 a number of cyanobacteria species have been found to produce cylindrospermopsin alkaloids in various quantities. These alkaloids were found in Asia, North and South America, Europe, South Pacific and Middle East. However, the leader is Australia. Most cyanobacterial species can be found on that continent. Therefore the concentration of cylindrospermopsin in that country is the highest. In connection with that, the outbreak of hepatoenteritis on Palm Island Australia is worth mentioning. The disease affected one hundred and forty eight people the majority of which were children (Prociv, 2004). It is presumed that treatment of algal blooms with copper sulfate caused the lysis of the cyanobacterial cells with further release of the toxins into the drinking water. The toxin was also found in Poland (Kokocinski, et al., 2009), however, the cyanobacteria responsible for its synthesis was not reported. There are cases where it was possible to isolate the toxin without detecting
Sunday, October 6, 2019
Managing Information Technology Globally (I need someone with a good Essay
Managing Information Technology Globally (I need someone with a good backgroud about IT and Database for this case analysis) - Essay Example Dell was the first in its competitors to think of online business and though leads best. It offers customer service for configuring dell products and with technical support view Internet same as it was once on telephones which reduces its cost price and increased its revenues. Dell successfully made a network of not only with customers but also with distributors and suppliers through e-commerce. Its sale automated functioning enhances the business strategies and Dell on its e-commerce establishment starts serving with e-business solution. E-business solutions were to offer customer the solution for their business by converting their business in virtual world as did by Dell. Though, Dell earned its revenues, more with the selling hardware devices and giving online customer services, in addition with, providing e-solutions to small organizations, incorporation with other software companies. 2. Characterize the distribution of decision-making responsibility at Zara, when it comes to how Zara's products are designed, allocated, and distributed How does this pattern of decision-making contrast with decision-making in traditional, hierarchical organizations (IT at Zera) Zara is responsible for its products for sale, and though developed a high-tech e-commerce site for its online business.
Friday, October 4, 2019
Networking Plan Essay Example | Topics and Well Written Essays - 1500 words
Networking Plan - Essay Example A super connector is that person who makes vital connections or introductions that grow a network (Uzzi & Dunlap, 2005). Bill fits this definition well. He has made vital introductions as seen in the above table. Bill is a graduate from Sydney University and is currently a fashion and design professional that appreciates and shares the companyââ¬â¢s vision as well as objective. I met Lucy Hassan in my search for quality art pieces that Dye & Dyer could use. In the process of our interaction, I introduced her to Bill whom I had met earlier on. Bill required someone of her expertise in printing some designs for his Art collections and Lucy Hassan was the perfect match. Bill had introduced me to Denis who was a fashion guru who run his own fashion blogs, and aided in the selection of fashion pieces for display. In turn I introduced Denis to another fashion guru: Patrick, who dealt in African art and fashion. Bill also introduced me to another fashion guru Martha, who just as Denis, r an her own fashion blogs, and aided in the selection of fashion pieces for display. Martha needed someone with fashion printing expertise. So, I introduced her to Lucy Hassan. ... Therefore, I introduced Dave to Bill. I needed expert opinion on my fashion pieces. Dave introduced me to Cynthia Carew to help me in this area. Cynthia is now a friend and she provides critique and objectivity to the fashion pieces that I select for Dye & Dyer. Indeed, her advice is invaluable in making fashion statements and presentations. It is her passion for fashion that made me introduce her to Martha, who in turn introduced her (Cynthia) into the world of blogs on high-end fashion and art. I needed help in filming as well as shoots. Bill introduced me to Robert. Robert is a film expert. This introduction enables me to access his innumerable knowledge on film and photography. I in turn introduced him to Phillip, who helped him branch his (Robertââ¬â¢s) company to neighboring counties. Morris is a financial consultant from my university who impressed me with his portfolio in management. Morris was a friend I had known from my university days. Bill, who enjoys risky investment s, needed expert advice on the issue of management. It is for this reason that I introduced him (Bill) to Morris. That is how my network grew within a short span of time with Bill acting as my super ââ¬â connector. This network has exhibited tremendous growth in a short span of time and is expected to continue growing. Q 2 The networks we build determine the access and extent that our ideas will reach. Creating strong networks is therefore an essential part of the structure of any individualââ¬â¢s life, or the structure of any organizationââ¬â¢s life (Sigmar et al. 2012). After reading Uzzi & Dunlopââ¬â¢s article (2005), I had to take a critical look at my network and its structure. Bill Nicholls introduced me to the fashion business and has since acted as my contact in matters concerning
Thursday, October 3, 2019
The Power of Selfishness Essay Example for Free
The Power of Selfishness Essay Literature overflows with references and symbols that correlate to teachings of many different subjects. Many authors design characters who, for some unknown reason, feel they cannot control their own selfish motives. The system of egoism defines itself as the ethical system that places needs of oneself above and before those of others. Incorporated into this system, the more explicit views of the psychological egoist arise. The psychological egoist firmly believes that he holds no power over his selfish motives; humans innately strive to maintain what proves best for themselves over any others needs. This situation becomes evident in Shakespeares Macbeth as Macbeth allows his vaulting ambition to overpower his best judgment. While Macbeths questions his actions towards the beginning of the play, his true character surfaces as we see the transformation from a discerning war hero to a monstrous, uncontrollable murderer. Because Shakespeare chooses to slowly reveal Macbeths faults, the reader initially falls into the perception of Macbeths nobility and control over his own desires. The reader first meets Macbeth as he rides in from a successful battle in which he decimated Scotlands foe led by Macdonwald. Like the reader, Macbeths peers also trust his courage in valor for brave Macbeth- well he deserves that name-/ Disdaining fortune, with his brandished steel, / Which smoked with bloody execution, / Like valors minion carved out his passage/ Till he faced the slave(I.ii.16-20). Even the king resounds Macbeth as a valiant cousin, worthy gentleman, a gesture that portrays trickles of irony, as this valiant cousin would soon become his gruesome murderer. These bold and proud portrayals of Macbeth are implemented to confuse the reader, to skew his belief in Macbeths ability to kill a friend, to hide Macbeths uncontrollable secret desire to assume the throne of Scotland. Shakespeare quickly reveals Macbeths ambition for the throne as he portrays an inquisitive Macbeth, careful not to promulgate his excitement for the three witches prophesy. Macbeth snaps to the hags, Stay, you imperfect speakers, tell me more! / Speak I charge you (I.iii.70-78). The quick reaction to the witches prophesy of his kingship flags the reader to notice Macbeths instantaneous and uncontrollable interest in the prospect of overthrowing Duncan. The uncontrollable urge for self-advancement over others well being closely follows the Catholic Social Teaching of the psychological egoists inextinguishable desire to trump the success of others and attain fame and glory. Thinking through the requirements and consequences of his kingship, Macbeth slowly settles away from the idea of murdering the honorable Duncan, a withdrawal which sets the reader astray from the prospect of Macbeths desire to advance at any cost. As he arrives back to his castle, Lady Macbeth meets him with a rampant frenzy, questions him about what it will take to propel her to the position of queen, and implores him to consider the simple murder of Duncan to grasp her such happiness as well as seal their marriages happiness. Like Macbeth, Lady Macbeth keeps captive the same uncontrollable desire that defines a psychological egoist; however, she chooses to play into Macbeths fears and emotions to achieve her goal rather than following through herself. Lady Macbeth and Macbeth clearly know what they want and submit to any means necessary in order to achieve their goal. They plan to greet Duncan as he arrives at Macbeths castle [looking] like the time, [bearing] welcome in [their] eyes, / [their] hands, [their] tongue. Look like the innocent flower, / but be the serpent under it(I.v.64-66). The now assured murder of Duncan slowly assimilates into a passionate war to achieve their desires at cost to any others, even Lady Macbeths desires trump those of her husband in her mind. The selfish mood throughout the play seems to give warning to not only selfish ideas and selfish motives, but to societys ability as a whole to quell these undying desires, to allow these dangerous ideas to subside, and to realize the need for intervention long before ones ambition grows to large to control. Egoism has been widely criticized as subverting attempts to live together as a whole, a criticism which further magnifies the potency of danger that Macbeths ambitions hold. Macbeths ability to act upon his ambition remained unclear for a large part of the play; however, once he committed the initial murder of Duncan, Macbeths will to remove anything that threatened his success became clear; his willingness to kill further emboldened the correlation of him as an egoist. Quickly becoming suspicious of the beliefs of those around him, Macbeth moves to kill Banquo, his closest friend and ally until this point. As Banquo clearly dictates his unwillingness to support Macbeth in his nefarious deeds, Macbeth decides to call upon a group of murders to remove the threat of not only Banquo, but of his son Fleance, who was prophesized to be king. In fact, Macbeth believes every minute of [Banquos] being thrusts/ Against [his] nearest of life (III.i.118-119). The small statement illuminates the potency of Macbeths insanity; his closest friends have now become his strongest enemies. Because of this transformation from friend to foe, Banquo becomes a victim of Macbeths ambition, becomes a symbol of pain caused by the incessant lust for power, becomes a rock from which those like Malcolm and MacDuff launch themselves from in order to overthrow the lost, poisoned mind of Macbeth. Macbeth, his mind racked from the ominous apparitions of his demise, soon learns of MacDuffs flight to England, an action which he uses to justify the murder of many more innocent citizens who, in Macbeths eyes, threaten his very existence and success as king. Pacing in his castle, attempting to discern his best plan for retaliation against MacDuff, Macbeth reveals his desire to seize upon Fife, give to the edge of the sword/ [MacDuffs] wife, his babes, and all the unfortunate souls/ that trace him in his line (IV.ii.151-152). Resorting to rampant murders of noble kin, Macbeth cries out his unnecessary and undeserved desire to eliminate all of those who renounce his right to the throne. Macbeth abnegates all guilt in these times of passion and anger that frequently overpower his no longer existent common sense and discernment. Like the egoist, Macbeth chooses to not only act out of selfish measures, but proclaims that his actions are not of his control, but rather, a direct cause of his own inevitable drive towards success and power. Even as Malcolm misleads MacDuff about his own vices and shortfalls as a leader, MacDuff feels that the vulture in [Malcolm] to devour so many/as the will to greatness dedicate themselves (IV.iii.75-76) cannot exist as it does in Macbeth. MacDuffs belief that Macbeth defines the ultimate evil as a leader as well as his inclusion of Macbeths inexorable will to greatness further corroborates the correlation between a stereotypical psychological egoist and Macbeth. MacDuff describes Macbeths inextinguishable will as the catalyst for Scotlands demise as well as an innate feature that Macbeth contains; Macbeth could never abdicate the throne without force due to his great desire to achieve success for only himself. Eventually, Macbeth realizes his crimes and missteps as king, but still refuses to step away from the unnecessary dismantlement of families who pose a threat to his power. Upon killing young Siward, Macbeth rejoices that no man of woman born can touch him; Siward, who fathered young Siward, similarly rejoices his sons death fighting the ultimate tyrant of their age. As the tyrant Macbeth nears his end, MacDuff enters the castle as the one of all men else who Macbeth has avoided. Knowing his death to arrive by MacDuffs sword, Macbeth fights on with a soul too much charged/ with blood of [MacDuff] already. (V.viii.4-5) His bold disregard for his own life reveals the misconception and ignorance he holds of his own life; Macbeth once again allows himself to be consumed with passion, passion which drives him to his inevitable demise. Society today regards Macbeth as a product of fear and paranoia coupled with a desire for power that is so strong that any means to achieve that power would be taken in order to attain that goal. We see many like Macbeth even today. Like Macbeth, Richard Nixon was a wildly popular figure in United States politics, winning his elections with over 60% of the popular vote. Seeing his own success and desiring so much more, he allowed his paranoia to take hold of him and cheated his way to a second term by bugging the Democratic offices. Many historians believe that this move proved to be completely unnecessary; his popularity already had been sealed with the people. Having followed through with his quest for power, his obsession caused him to inevitably resign from office. Macbeth portrayed many similar characteristics as Richard Nixon. His popularity greatly stood above his peers around him, however; he chooses to instead tear apart a kingdom for his success, a success that likely would have brought him to power anyways. Shakespeare along with history teaches us the power ambition holds over us, the importance of containing that ambition, only searching for what we can do to improve ourselves without harming others. The egoist commonly addresses the criticisms regarding his lust for power as shallow and full of fear, much like Macbeth addresses those who attempt to quell his vaulting ambition. The quest for power controls so many in the world today, but it eventually leads these people to failure much like Macbeths, failure much like Nixons, failure to keep hold of power, failure to sustain a valuable life.
Budget and Account Management of Restaurant | Case Study
Budget and Account Management of Restaurant | Case Study Traditions Ltd Question One. Marginal costing, Comparison between Traditions Ltd Marginal costing for all departments and without the restaurant department; Without the restaurant, the store is profitable. The store is capable of making a profit of à £9,000. This indicates that the restaurant department is making losses. Even without putting the fixed cost incurred by the business into consideration, the restaurant had made a contribution of à £-30,500 in that particular period alone. This is a high level of loss to be incurred by only one department. Among the other three departments, furnishing is the least profitable. This is because; the amount of purchase for resale that ends up being sold is very low. This increases the stock in the store such that closing stock for the furnishing department is very high as compared to the other department. By the end of the period, closing stock is more than the opening stock. This indicates that there were fewer sales made in this department during that particular period. Question two. Financial and non-financial consequences of closing down the restaurant department; Following the financial position of traditions Ltd analyzed in the previous sector, the restaurant department was making losses. This has prompted the management of the store to consider closing down the restaurant department. Doing so, traditions restaurant is will be faced with various implications, both financial and non financial. Closing down the restaurant department will lead to reduction in the overall profits realized. This is because; the contribution margin will increase leading to reduction in profits. This is because fixed cost will be shared among three departments. Since fixed costs per period of time do not vary by the amount of units produced, the other three departments will have to incur these costs. This will increase the overall costs leading to reduced profits. As indicated in the calculations of marginal costing statement, when the business is operating four departments, the total contribution margin was à £390,500. On closing down the restaurant, the total contribution increased from à £390,500 to à £421,000. This means that a higher contribution margin is to be shared between remaining departments. Another financial implication of closing down the restaurant is that the store will be required to retrench workers. The business will have to pay employees in the restaurant department such as Claude. This will have a negative financial effect on the business. Socially, when a business retrenches workers, customers do not like to be associated with it. In this context, Claude is a renowned chef especially after winning the potato-sculpting competition. This made him famous as he created customer loyalty. Many customers visit the store because of him. Closing down the restaurant will reduce customers who also shop in other departments. This will lead to a decline of sales in the other three departments. Reduction of sales will lead to reduction of overall profits in the business (Tennent, 2008). Another financial effect of closing down the restaurant will lead to low selling of the restaurant assets. As indicated, the restaurant has been having challenges regarding itsââ¬â¢ assets such as the dough mixer. Due to poor maintenance of these equipments, they may be valued very poorly. This will limit the store in recovering some of the costs. Other than financial implications, the store will also face non-financial challenges as a result of closing down the restaurant department. One of the main challenges is bad image of the business which will be brought about by retrenchment of employees. Potential customers dislike businesses which often lay of their employees because terminating employeeââ¬â¢s employment suggest that the business is no longer profitable. More so, society does not like business entities that lay off employee because unemployment is viewed as bad. These employees have families and other responsibilities to take care of, without their jobs, they cannot. As such, it is viewed as the fault of the store that these families will suffer. Potential customers will not like to be associated with such businesses (Drury, 2006). Question Three As management accountant, Samantha will be required to prepare, come up and analyze financial information for the store. This will be very difficult since she does not have prior experience in management accounting. More so, the company does not keep well organized information data base. There is no previous history of management information in the company and as such, she has to first of all collect her own management information. This is rather a very tedious. In her role, she will have the responsibility to ensure that the management of the store has to make decisions which are well informed from now going forward so as to guarantee the storeââ¬â¢s future profitability, stability as well as its growth. Samantha will have to come up and maintain management information systems as well as financial policies by liaising with the management to provide a better support service on all aspects of finance. As indicated, Samantha and some of the management colleagues such as Albert often argue. More so, the top management colleagues are old and will not for sure understand fully these financial policies so as to make sound management decision regarding the company. Her role also includes looking into the future. She is supposes to analyze the performance of the business in the past years and offer advice to the management on how to prevent challenges that the business encounters. Currently, the restaurant department is making losses and as such, it is her responsibility to advice the management whether to close down the restaurant or to put more capital in it so as to make it more profitable as Claude advices. She will be required to make Traditions Ltd adapt to changing environment. The management of the store prides itself on running the store through maintaining the standards of services and customers relationships which is mainly related with a bygone era. This means that the store cannot be able to attract the young middle class people who provide a very significant market. It is her duty to make sure that the store taps in this market so as to increase sales. She should advice the management on adoption new and upcoming trends so that the y can be able to make decisions which will inline the store to new trends hence attract more customers. It is her duty to identify departments that need reduction in operational and production costs. Most importantly she should be able to establish better and effective strategies so as to control spending. This will involve reducing the spending habits of some department and increasing others. Each department is headed by a family member and in reference to their relationships; some of the managers of departments such as Albert will not be willing to reduce their spending habits to increase other departments. Since is a family owned business, sibling rivalry will be unavoidable bringing about more challenges and disagreements among decision makers. Management Information System (MIS) for Traditions Ltd; Management information system (MIS) is vital in its role as an agent of sharing information within a business. There are various factors to consider while implementing a management information system at Traditions Ltd (Graham, 2005) (Clarke, 2010). These factors include; The level of knowledge of the users. Traditions Ltd is a family owned store. The managers of the store are above fifty years of age and most of them have little or no knowledge of what management information system is. These managers also do not have siblings to act on their behalf. They are required to access the MIS and effectively use it on daily basis. As such, the management information system that can be effective in the store should be easy to use for the management and simple to understand (Khosrowpour, 1997). The security of the system. A secure MIS should be implemented in the store. Since the store is family owned, there may be conflicting interest within the family. A management system should be in such a way that it is transparent and each member with access should be able to view what others are doing (Galletta Zhang, 2006). Stock control systems; Stock taking is a process that requires the making a list of stock with their location and value. A stock control system must be able to show make orders, track stock levels as well as issue stock. The systems should contain information on the value, location, description, reorder levels, quantities, supplies and information on previous stock history (Office, 2009). Inventory turnover is a ratio that describes how many times a business inventory is sold and replaced over a period of time. To calculate the inventory turnover days, the days in the period are divided by the inventory turnover formula. Inventory turnover ratio is a key measure for determining the efficiency of the business in management of company inventory as well as making sales from it (Wanjialin, 2004). It can be calculated as; Inventory turnover =cost of goods sold/ average inventory. Or =sales/inventory Day sales Inventory is simply the inverse of the inventory turnover ratio multiplied by 365. i.e. Days Inventory= (Average Inventory/Cost of good) *365 Question 4 Budgetary planning and control system; Budgetary planning is the process by which a budget is prepared in an organization. A budget is a plan which is expressed quantitatively for a specific period of time. It can include various items such as assets, liabilities, planned sales output and revenues, amount of resources, cash flows and costs and expenses. As a management accountant at Traditions Ltd, budgetary planning is vital in the operations of the store. This is a process that will involve identifying objectives, looking for alternatives and collecting information about them and choosing the best alternative that suits the store. The final step is to implement the chosen alternatives to achieve the set objectives. In planning the budget, one needs to make sure that the plans are properly quantified, financed and be able to control resource allocation and performance (Plumptre, 1988) (Bogsnes, 2009). The main functions of the management accountant involve forecasting. This is where I am supposed to lay down objective to be achieved at the end of a specific period. Come up with a plan on how these forecasted objectives are going to be realized. Communicate this plan to all members of the departments in details so that they can follow the plan comprehensively. Coordinate various departments by keeping an eye on what is happening within the operation of the store. Select a team of managers and supervisors who are going to monitor every day activities in the store and make reports. Come up with authorization protocol where every employee should be able to follow. To boost morale and encourage employees, motivate employees either through giving rewards for best performers or promotions. Evaluate on regular basis the performance of the store to know whether the store is in line in realizing of the set objective (Radev Allen, 2006). Some of the behavioural problems one might encounter as a management accountant are the unwillingness of some management colleagues as well as other employees in the implementation of the plan. Since this is a family business, and each department is headed by a family member, some of them may be unwilling to cooperate especially when it comes to financing. This might result in mistrust, leaving behind some aspects of the plan which will lead to under realization of the objective. Budgets are time consuming and tiresome. As such, a management accountant should be ready to work long hours without pay so as to meet deadlines (Lacey, 2013). The best way to gain budget control in the businesses is through the analysis of variance. There are two types of variance analysis. One is the fixed analysis which does not change with the level of activities within the business. The other one is the flexed analysis which is prepared in such a way that it can be altered to indicate the actual activity involved. A flexed variance analysis will suit Traditions Ltd. This is because; the management accountant should be able to monitor each and every activity that is taking place in the store. Actual profits= budgeted profits+ favourable variances ââ¬â adverse variances. For budgetary control to be effective, serious attitudes should be emphasized. There should be clear boundaries between managerial duties and other duties undertaken by employees. Budget targets which are challenging should be identified and more emphasis put on them. Routines for data collection, analysis and reporting should be established. Reports should be aimed at respective managers and reporting periods should be fairly short. Time variance reports should be prepared and where they are adverse, action should be taken to get back to favourable (Business : The Ultimate Resource, 2003). References Bogsnes, B. (2009). Implementing Beyond budgeting : Unlocking the Performance Potential. Hoboken: John Wiley Sons. Business : The Ultimate Resource. (2003). Beijing : Citic Publishing House. Clarke, S. (2010). Computational Advancements in end-user Technologies : Emerging Models and Frameworks. Hershey: Information Science Reference. Drury, C. (2006). Cost and Management Accounting : An Introduction. London: Thomson. Galletta, D., Zhang, P. (2006). Human-Computer Interaction and Management Information Systems : Applications. Armonk: M. E. Sharpe. Graham, G. (2005). Exploring Supply Chain Management in the Creative Industries. Bradford, England : Emerald Group Pub. Khosrowpour, M. (1997). Managing Information Technology Resources and Applications in the World Economy : Proceedings of the 1997 Information Resources Management Association International Conference Vancouver, B.C., Canada. London : Idea Group. Lacey, D. (2013). Managing the Human Factor in Information Security : How to Win Over Staff and Influence Business Managers. Hoboken: Wiley. Office, G. B. (2009). The National Offender Management Information System : Report. London: TSO. Plumptre, T. W. (1988). Beyond the Bottom Line : Management in Government. Halifax: Institute for Research on Public Policy. Radev, D., Allen, R. (2006). Managing and Controlling Extrabudgetary Funds. Washington : International Monetary Fund. Tennent, J. (2008). Guide to Financial Management. London: Profile Books. Wanjialin, G. (2004). An International Dictionary of Accounting Taxation : 12000 + Entries on Accounting, Auditing Taxation in the USA, Canada, UK Australia ; Clear one Sentence Definition Right to the Point. New York: ] iUniverse Publ .
Subscribe to:
Posts (Atom)