Discuss the importance of budgeting and identify five purposes of budgeting systems.
What will be an ideal response?
Budgets aid in determining how to acquire resources, and when and how these resources should be used. In simple terms, a formal budgeting program is a key ingredient to effective management. The five purposes of budgeting are to:
1. develop a plan of action.
2. facilitate communication of the plan and coordinate various views within an organization.
3. allocate limited resources effectively and efficiently.
4. serve as a benchmark to control profit and operations.
5. evaluate performance and provide incentives to managers.
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According to your textbook, a slideument is
A) typically used as a short video to introduce a workplace presentation. B) sent to your audience ahead of time to help them preview your topic. C) a hybrid slide that tries to function as a presentation visual and a printed document. D) an effective vehicle for delivering information during a business presentation. E) a helpful summary of your presentation, distributed to the audience just as you begin.
Pay level is the total amount an employee pays to the organization.
Answer the following statement true (T) or false (F)
Mintzberg identifies several types of political games played by actors in organizations. What term does he use to refer to games in which lower status participants play against the dominant elites?
a. Expertise games b. Insurgency games c. Counter insurgency games d. Status games
Porter's five forces model is used to assess ________.
A. life cycles of products B. industry structure C. market share D. future product demand E. internal competition