Budgeting and allocating resources do not occur in a vacuum. Leaders of organizations take stock of their revenues and expenditures, their assets and holdings, their clients and competitors, and their overall strategic thinking. While some aspects of these deliberative processes are internal, others may be shared publicly for variety of reasons. In this Assignment, you evaluate the relationships among documents that provide evidence of the outcomes of these deliberative processes and financial analyses. You may wish to rely upon personal and professional experience reading financial statements, strategic vision and mission statements, and budget reports. Consider what you would expect to get from each of the document types if you were the leader of an organization, and how you might use these items individually and holistically. After reading the assigned articles, consider how having an understanding of different models of thinking can make you a more effective manager. With that thought in mind, review the following three resources and answer the questions associated with each: 1. Evaluate the role of strategic planning, budgeting, and financial statements in an organization 2. Compare how strategic planning, budgeting, and financial statements in an organization differ. Resources: Shim, J. K., Siegel, J. G., & Shim, A. I. (2012). Budgeting basics and beyond (4th ed.). Hoboken, NJ: John Wiley & Sons. Chapter 1, “The What and Why of Budgeting: An Introduction” Chapter 2, “Strategic Planning and Budgeting: Process, Preparation, and Control” Chapter 3, ” Administering the Budget: Reports, Analyses, and Evaluations” Chapter 22, “Zero-Base Budgeting: Priority Budgeting for Best Resource Allocation” Laureate Education (Producer). (2018). The four basic financial statements [Interactive media]. Baltimore, MD: Author. Rubrics: Student provides a thorough and detailed evaluation of the role of each element in an organization or business (strategic planning, budgeting, and financial statements). Relevant sources and examples support thinking. Student provides a thorough and detailed analysis comparing how each element in an organization or business differs. Relevant sources and specific examples support thinking. Student exhibits evidence of thoughtful critical analysis and thinking; careful examination is made of assumptions and possible biases, with detailed supporting rationale. Writing synthesizes the classroom experiences and content; analyzes patterns or connections between theory and practice; and draws logical conclusions based on well-reasoned arguments. New questions may be presented based on synthesis of ideas and input. Writing is clear, logical, well-organized and appropriate. Work is free from spelling and grammar/syntax errors. Tone is professional and free from bias (i.e., sexism, racism). There are no errors. Student demonstrates full adherence to scholarly or credible reference requirements and adheres to APA style with respect to source attribution and references. There are no APA errors.
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