Budgeting
1. In the studies we have seen Budgeting can be used as a control mechanism in Management. In your views, how can this used a a control mechanism. you may include examples to explain your answers.
2. Budgeting can be an important tool if implemented properly. Identify several positive results when budgets are used properly. Since budgets affect people, identify several negative aspects if budgets are not implemented properly.
3. Super Chicken operates a chain of takeaway chicken shops . The company is operating in a very competitive market , and it is difficult to gain and maintain market share . Management believes it is important to monitor competitors ' actions closely , and to continue to offer new products and special promotions to create high visibility among customers . The management team has recently reviewed its mission which is : - To be a caring and environmentally responsible company , providing fresh and nutritious meals at an affordable price . Required : Consider the four perspectives of the Kaplan and Norton 's balanced scorecard . For each perspective , develop objectives and a series of performance measures . Consider both lag and lead indicators . Make sure that your objectives and measures support the mission of Super Chicken
4. Decsribe nonfinancial performances and explain how they are similar to and different from financial performance measures.
5. list three strengths and three weakness of the balanced scorecard approach
6. The New York Times recently reported that a number of publicly- held corporations have been accused of illegally doctoring hourly employees' time records. Examples included: . • Workers sued Family Dollar and Pep Boys, accusing managers of deleting hours from their time records. More than a dozen former Walmart employees said in interviews and depositions that managers had altered time records to shortchange employees. • The Department of Labor reached two back-pay settlements with Kinko's photocopy centers after finding that managers had erased time for 13 employees. es When interviewed, many of the managers cited pressure from upper-management and the impact of their actions on their own compensation as underlying causes for their actions. All of the companies strongly denied encouraging such illegal and unethical behavior by managers. Compensation experts interviewed agreed that the companies' incentive performance systems may have contributed to the managers' behavior. (New York Times, April 4, 2004) a. Explain how the incentive performance systems of the above- named companies could have contributed to this illegal behavior by managers. b. Discuss the ethical issues involved in the design of incentive performance systems. In designing a performance-based incentive system, what measures should companies take to avoid illegal and unethical behavior by supervisors?
7. Many businesses are moving away from the base salary concept and trying to adopt the new systems such as Rewarding Employees based on performance. As such most of the time the employee performance is linked with Profitablity or sales achieved. In your opinion what are the advantages and disadvantages of rewarding employees based on performance. You can provide examples to clearly explain your thoughts.
8. Define the Myopia Problem
9. Discuss 2 solutions to the myopia problem
10. Refer attached Case Study for assistance and answers. (Refer attachment Q10a, Q10b)-
Required: a) Evaluate the current performance measurement system currently bein used a dipicted in Table 1, Suggest some improvements that can be done to Performance System to ensure the growth and succes of the company.
Step by step
Solved in 6 steps
For Q3, could you pls assist further:
For each perspective , develop objectives and a series of performance measures . Consider both lag and lead indicators . Make sure that your objectives and measures support the mission of Super Chicken
by Bartleby Expert
