...Health Care Budget An operating budget is a strategic initiative for the organizations financial plans over the course of the coming year. The operating budget works directly with the Statement of Activities (SOA) for a fiscal year to accomplish the organization financial goals. To produce an effective operating budget the organization needs to have knowledge of what financial management practices work best for the financial goals they are planning to use. Proper understanding of these concepts is vital for the operating budget to become successful for the upcoming year. Effective Financial Management Practices Effective financial management practices include several types of rules that an organization should follow to create a successful operating budget. Budgeting should focus on income first targeting the reliable income in the budget. Never filling those gaps with income projections to cover expenses can cause a deficit if your organization can not produce the income target within the year. Expenses should be lower than the dependable income total. Each department should be in agreement with this financial management practice. This leaves the additional programs and projects to be set in motion if the revenue allows additional funds (Hamilton, 2010). A financial management practices uses the beginning with the prior fiscal years total, and building the new upcoming year budget on those amounts. This takes calculating percentage of increases and decrease to determine...
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...Erik Chadwell PPA 265 November 21, 2014 How are Traditional and Zero Based Budgeting approaches similar and different within public administration and where are they now? Within organizations it is always smart to be prepared for changes that happen inside of your business so can you react accordingly to them, and this all starts with financial management. Every organization needs money and the use of that money determines the extent of the activity that can be done. The way to accomplish certain goals and objectives is by preparing a budget to translate those financial resources to actual happenings. A budget is a written plan that estimates and proposes alternate expenses for certain items and other purposes; essentially it puts prices on goals. Budgeting is mainly to prioritize the allocation of resources, so you can make a plan to reach an objective. The use of traditional “incremental” budgeting and zero based budgeting have made their appearances in history, mainly opposing each other on opposite ends of the spectrum, although either may be favored for your organization pending on your preferences on achieving your goals. While there is a similarity between the two of supporting the planning and decision making of the organization, the focus here is how they contrast one another and how they are used. To be discussed are the contrast points between the two approaches which are contained in the process of which they gather data to make their budgets and the way they implement...
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...allocation rate if hours of housekeeping services department is used as the cost driver? Allocation rate = cost pool/ hours of housekeeping department = 100,000/ 5000 = $20 per hour of services provided. 3 What is a cost-volume-profit (CVP) analysis and why is it useful to health services managers? Profit analysis is an analytical technique used to analyze the effects of volume changes on costs, and hence this analysis is often called cost-volume-profit or (CVP). 4 Compare and contrast the following three methods of developing capitation rates: fee for services approach, cost approach and demographic approach. Fee for services is a reimbursement method that provides payment each time a service is rendered to a patient (Gapenski, p634). Under fee for services agreements, health care plans allow...
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...Dell Inc. operates as a Zero Time Organization could also be called a Matrix organization. A Zero time organizational structure includes a holonic organizational structure where each part was in itself a complete whole with the authority to make decisions, and had the ability to function independently if necessary. The best example of the concept of zero-management gaps at Dell was their cell manufacturing structure. When every individual on the cell had access to any information necessary to complete the assembly and delivery of the computer. They also had the authority to stop there line if there was a problem. Each cell was a whole within a whole. Dell corp has 12 business divisions that were run like a business within a business. Each had employees they were responsible for and also to make decisions to the best service the customer. They also had an incentive system based on the overall performance of the company. The value of their organization are set up in a way that encourage employees to act in the best interest of the whole company. They do not tolerate individuals who strive for personal success at the expense of others. Dell Corp is also a layered organization which consists of the technical level, the administration level, and the institutional level. This is why i think they are operating as a Matrix organization as well as a Zero Time Organization. I think that this type of organizational structure works well for Dell as each department can...
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...University of Texas at Austin Graduate School of Business 3/3/99 Dell Computer Corporation: A Zero-Time Organization Deep in the heart of Texas lies a Fortune 500 company who exemplifies many of the principles of a Zero Time organization. Dell Computer Corporation has seen extraordinarily growth: a 58% revenue increase and an 82% profit increase in 1997, an equally extraordinary short period of time. Sales rose to $12.3 billion in 1997, profits to $944 million in 1997, and the stock split for the sixth time in 1998. Much of this success is due to management principles and a vision that we describe here. First we provide some background information on the company, and we describe the management principals and philosophies we think make Dell a success. Finally, we describe Dell using the lens of a Zero Time organization. Company Background Many know the story of Michael Dell, his college-based business of building personal computers with available parts, and his build to order strategy. Founded in 1984 as PC’s Limited, the name was officially changed worldwide to Dell Computer Corporation when the first stock offering took place, in June 1988. Other key turning points, according to Michael Dell, were in 1986, when Dell first went outside the US to Europe and hit $50 million in sales; 1989, when the company when from last to first place in their industry on the management of their inventory; and 1993 when the concept of segmenting took shape and allowed the ...
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...INTRODUCTION In thinking about an ideal Total Quality Management (TQM) in a government organization of the 21st century, what follow is innovation, globalization, and a new culture that organizations need to adapt constantly to meet new market situations and competitive business world. "TQM refers to a management process and set of disciplines that are coordinated to ensure that the organization consistently meets and exceeds customer requirements. It allows organizations to survive the global business competition and allows for a continuous improvement (kaizen) to the needs of the rapidly changing world by having organizations move from the current way of doing things to a new and possibly different way of doing things based on systematic management of data of all processes and practices that eliminates waste. TQM require engagement of all divisions; departments and senior management to organize all its strategy and operations around customer needs and develops a culture that allows employee participation. For service organizations, TQM has become a philosophy of management that is driven from the continuous improvement of customer satisfaction that offers meaning to an organization existence in delivering meaningful services to customers and satisfaction and growth to members of the organization. It is from this premises that TQM strategy is to achieve excellence in quality service, low cost, high productivity and organizational effectiveness [Evans, J & Lindsay, W. 2008]...
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...When dealing with tangible products versus the perception of a quality service, the concept of quality changes. Quality is determined when purchases or services meet or exceed an individual’s expectation. The subject of this paper is to define quality and its elements, describe how a quality pioneer’s use of the total quality elements made the pioneer successful, and explain why the elements of quality are useful in today’s environment. Definition of Quality Quality is defined as “a dynamic state associated with products, services, people, processes, and environments that meets or exceeds expectations and helps produce superior value” (Goetsch & Davis, 2010, p. 5). Quality is considered a ‘dynamic state’ because it often changes with time and circumstances. Elements such as the products, services, people, processes, and environments are significant components of quality because of competition. Two competitors may produce the same product with a comparative quality; however, the competitor who looks beyond the quality of the finished product will be more successful (Goetsch & Davis, 2010). This is because the focus is on the “continual improvement of the people who produce the product, the processes they use, and the environment in which they work, resulting in a win in the long run” (Goetsch & Davis, 2010, p. 5). The superior value element of quality is an acknowledgement that measures quality. Philip B. Crosby Philip Bayard...
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...In 1971, Nippon Denso Co., Ltd. first introduced and successfully implemented TPM in Japan. They won the Japan Institute of Plant Maintenance (JIPM) PM Excellent Plant Award for their activities. This was the beginning of TPM in Japan. Since then, TPM has spread progressively throughout the world and established itself as a renowned cultural improvement programme The first example of TPM used in Europe to deliver world class performance was by Volvo in Ghent, Belgium, who won the PM prize for their work in the paint shop. This was quickly followed in the early 1990s by other European automotive companies trying to close the productivity and quality gap to their Japanese competitors. Since the JIPM TPM awards were founded, over 3000 organizations have won awards, including Unilever, Wrigley, Tetra Pak, Heineken and Arcelor Mittal. The Japan Institute of Plant Maintenance (JIPM) approach to TPM The Japan Institute of Plant Maintenance (JIPM) TPM Excellence Awards are the global benchmark for businesses achieving this level of sustained success. The JIPM definition of TPM is: T = Total. must involve all employees at all levels...
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...THE INSTITUTE OF FINANCE MANAGEMENT [pic] INDIVIDUAL ASSIGNMENT Course Name: MSC. FINANCE AND INVESTMENT (MFI) Module Name: Accounting for Decision Making and Control Module Code: AF 09101 INTRUDUCTION OF THE BUDGETTING Budget is a combinations of company activities within which a company coordinate to a common plan for future period. The budget is not something that originates 'from nothing' each 'year - it is developed within the context of ongoing business and is ruled by previous decisions that have been taken within the long-term planning process. When activities are initially approved for inclusion in the long-term plan, they are based on uncertain estimates that are projected for several years. These proposals must be reviewed and revised in the light of more recent information. This review and revision process frequently takes place as part of the annual budgeting process, and it may result in important decisions being taken on possible activity adjustments within the current budget period. The budgeting process cannot therefore be viewed as being purely concerned with the current year - it must be considered as an integrated part of the long-term planning process. The conventional approach is that once a year the manager of each budget centre prepares a detailed budget for one year. For control purposes, the budget is divided into either 12 monthly or 13 four-weekly periods. The preparation of budgets on an annual basis has been...
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...Henri Fayol and Zero Tolerance Policies Lee SCHIMMOELLER1 Abstract Zero tolerance policies have been increasingly popular in both education and business. Henri Fayol was the one of the earliest and influential thinkers in modern management theory. He defined management as a body of knowledge and defined his 14 administrative principles. It is an interesting exercise to apply Fayol’s teachings to the theory of zero tolerance and attempt to determine what Fayol would think of this new management technique. Keywords: Management, Fayol, zero tolerance, administration. JEL classification: B10, L20. Introduction Zero tolerance is a management technique that is finding its way into many of the administration policies of organizations, including the school systems in the United States. Administrative decrees declare that this organization with have zero tolerance for weapons or illegal drugs, or sexual harassment. Administrators often endorse zero tolerance as it makes a strong statement of organizational discipline and takes little discretion which may be criticized. Critics of zero tolerance claim it is ineffective and leads to random punishments such as 10 year olds suspended for 365 days because her mother packed a knife in her lunch to use to cut up her apple. When she opened her lunchbox she immediately turned it in to her teacher but was still suspended‘(American Psychological Association Zero Tolerance Task Force). What would the early theorist of management thought think...
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...A Study on “COMPETENCY MAPPING” (TITAN INDUSTRIES LTD., HOSUR) Prepared by RICHA JAUHARI Registration No: 11010121094 Under the Guidance of Dr Debashish Sengupta Prepared by RICHA JAUHARI Registration No: 11010121094 Under the Guidance of Dr Debashish Sengupta In partial fulfillment of the Course-Industry Internship Programme (IIP) in Semester II of the Master of Business Administration (July 2011-13) Industry Internship Programme (IIP) Declaration This is to declare that the Report titled “COMPETECNY MAPPING” has been made for the partial fulfillment of the Course: Industry Internship Programme (IIP) in Semester II (July 2011-13) by me at TITAN WATCH DIVISION,HOSUR under the guidance of Dr. DEBASHISH SENGUPTA . I confirm that this Report truly represents my work undertaken as a part of my Industry Internship Programme (IIP). This work is not a replication of work done previously by any other person. I also confirm that the contents of the report and the views contained therein have been discussed and deliberated with the faculty guide. Signature of the Student : Name of the Student (in Capital Letters) : RICHA JAUHARI Registration No : 11010121094 Master of Business Administration Certificate This is to certify that Mr. / Ms. ’Richa Jauhari’ Regn. No. 11010121094 have completed the report titled...
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...Marketing Essay Student name:Weilun(Frank) Zhang Student number:42435498 Tutor's name: Lucy Miller Tutorial day/time: Friday/1p.m. Introduction： With the deteriorating environment, environmental protection becomes a topic of concern by the public. Because of Carbon dioxide emissions from traditional vehicles is a major factor in destroying the ozone layer that the concept of zero-emission vehicles (ZEVs) or electronic vehicles (EVs) came out which been defined as ‘a promising technology for reducing the GHG emissions and other environment impacts of road transport’ (Max, G et al 2011) the ZEVs or EVs will help not only protect the environment and air quantity but can also decrease the demand of non-renewable energy. With the characteristic of protect environment and save sources, the zero-emission vehicles become the product with social expectation and has the trends to be used widely in the future. However the ZEVs or EVs also has limitation and barriers to entry the markets because of its unknown demand, technology problem and consultation issues among government and vehicle manufactures, also the new formulation of laws and regulation for the development of zero-commission vehicles. The article is going to identify and discuss about the current marketing environment for ZEVs and EVs to find out the factors that are affecting the customers behaviors, also will identify the barriers for the ZEVs and EVs to entry...
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...“Ruger Clinic” Healthcare Finance – HSA525: An Introduction to Accounting and Financial Management May 1, 2011 Instructor Feedback Grade: 320 out of 320; Comments: Hi, Excellent job on the Ruger Clinic assignment. Abstract This paper discusses the following topics: value of the cost pool; The Housekeeping Service department of Ruger Clinic scenario; cost-volume-profit (CVP) analysis; capitation rates: fee-for-service approach; cost approach, and demographic approach, and conventional versus zero-based budgeting. Key words: cost pool value, cost-volume-profit (CVP) analysis; capitation rates: fee-for-service; cost, and demographic approaches, and conventional versus zero-based budgeting. Ruger Clinic 1. What is the value of the cost pool? A cost pool is “a grouping of costs that must be allocated” (Gapenski, pg 165) but “it may be beneficial to separate the costs of that support department into multiple pools” (Gapenski, pg 166) if services of the support department differ substantially. For our scenario the value of the cost pool is $100,000 in direct total costs of the Housekeeping Services department. 2. What is the allocation rate if: a) Patient services revenue is used as the cost driver? The formula for the allocation rate when patient services is used as the cost driver looks like this: Patient Services Revenue: $100,000 (direct costs) / $ 5,000,000 (patient revenue) = $0.02 per revenue dollar (allocation...
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...Protecting information and all assets is critical in today’s time. The military faces three major types of threats: Employees, Zero-Day Exploits, and Cyber Espionage. It is imperative, due to the information and assets on-hand, that the military mitigates these risks. The first major threat, employees, is a very common threat to all organizations. Employees can be broken down into three types of threats which include, employees that are careless and untrained, employees that are tricked or fall prey to social engineering, and employees with malicious intentions. This will always be a potential threat because every organization requires employees to run and function. Protecting a network and data should be top priority for every organization. With policies, procedures, and training implemented, employees will have a better understanding of what is allowed on their organization’s network, how to properly navigate the system, and how to safeguard all information contained within the network. Policies and procedures also inform employees of what practices are in the event information is disclosed without authorization and any and all penalties that may go along with them. Having this information readily available to employees ensures they are aware the organization is serious about protecting all assets and information and will enforce legal action if needed. Since employees are the individuals that have access to all information, some of which is sensitive, they need to understand...
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...Japanese industry after World War II. His expertise and skill was used to improve the war equipment quality in Japan, while at the same time revitalizing and restoring a Japanese Industry that had been broke down by the World War. He was also known to be best practitioner who device the 14 points in quality improvement. (March, 1986) Leadership roles being very important to Deming he professed 14 pints for managers to incorporate at every level of the organization. He is known for his ratio - Quality is equal to the result of work efforts over the total costs. If a company is to focus on costs, the problem is that costs rise while quality deteriorates. Deming’s quality teachings emphasized system management and quality control through the use of statistical process control charts. While Deming’s theories supported quality control, his 14 points emphasized management’s responsibility for making quality improvements. (March, 1986) Philip Crosby is an American who promoted the phrases “zero defects” and “right first time”. Zero defects doesn’t mean mistakes never happen, rather that there is no allowable number of errors built into a product or process and that you get it right first time. (Crosby, 1989) Crosby also identified a 14-step quality process emphasizing management commitment, his philosophy focused on creating real change in organizations. He made the point, much like Deming, that if you spend money on quality, it is money that is well spent. Crosby found that leaders...
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