139

docx

School

University of the People *

*We aren’t endorsed by this school

Course

3304

Subject

Management

Date

Nov 24, 2024

Type

docx

Pages

1

Uploaded by BailiffIce11081

Report
a) Robert Manning is facing an ethical conflict regarding the accuracy of his operating budget. He may feel tempted to overestimate the sales revenue or underestimate the costs in order to increase the budgeted profit and potentially receive a higher bonus. However, doing so would not provide an accurate representation of the store's financial situation and could mislead the company during the planning phase. b) As the president and CEO of SportsMax, it is important to motivate Robert Manning to provide an accurate operating budget. One way to do this is by fostering a culture of transparency and integrity within the company. Emphasize the importance of honesty and ethical behavior in financial reporting. Encourage open communication and provide support to store managers in creating realistic budgets. This in turn alerts the manager on the company’s financial health (Indeed, n.d.). Additionally, you can incentivize accuracy by implementing a reward system that recognizes store managers who provide accurate budgets (Indeed, n.d.). For example, offer bonuses or other forms of recognition to managers who submit budgets that closely align with actual profit. This will encourage Robert Manning and other store managers to prioritize accuracy over artificially inflating the budgeted profit. References Indeed. (n.d.). What Is Budget Management? (With helpful tips for management). Retrieved from https://ca.indeed.com/career-advice/career- development/budget-management
Discover more documents: Sign up today!
Unlock a world of knowledge! Explore tailored content for a richer learning experience. Here's what you'll get:
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help