Gone would be the days of training new employees in basic concepts like quality, teamwork, productivity, and customer service. Many employers hope that only the most qualified apply for every position.
Total XXX This latter approach makes it possible to obtain information on the costs of various activities and to consider different combinations of expenditure that might achieve the same result And of course, all of the above approaches may be further subdivided by time periods e.
The budget then becomes a tool for managers to control rates of expenditure. The budgeting cycle perhaps can best be presented pictorially. The process may take one year or longer, depending on local practice and regulation, but it should include all of the following elements See figure 1: A typical budgeting cycle.
Maintaining a balance in how resources are to be used Some extension organizations simply do not have enough resources to cover normal operating costs. This may be a result of previous decisions that had the effect of protecting staff salaries and staff size at the expense of allocations for operating costs.
Or it may be that salary support is provided by a central authority and is not even a part of the organization's budget.
In this situation, when budgets are cut with little or no change in staff sizeit merely means that staff members have fewer resources to use to carry out their work. Or it may be that funds have been provided, but that increases have not kept pace with inflation. The result is that too few resources are available to carry out the work of the organization.
In some organizations, almost no resources exist to cover travel, publications, or any of a wide variety of other possible operating costs.
Managers should seek to align resources in ways that make it possible to accomplish organizational objectives.
This usually suggests the need to maintain an appropriate balance between salaries and operating expenses. It does little good to have a large staff if resources are too limited to provide that staff with the means to get something accomplished.
Managers might logically address this problem by reducing the number of positions and increasing expense allocations, thus changing the ratio between salaries and operating expense items. However, such a move might make it necessary to change the way programmes are delivered. For example, staff may be too few in number to permit visits to individual farmers.
If farmers are to be reached in this situation, it may be necessary to bring them together in groups. Or the result may be that only a small number of individual farmers can be reached.
In some countries, national regulations do not make it easy to exchange personnel resources for money to use for operating costs, or vice versa, or even to avoid unfunded programme responsibilities.
In those situations especially, managers might seek help from alternative funding sources. However, if the problem can be resolved simply by reallocation, that is often the most straight forward approach. Establishing user fees and charging for publications are other ways to obtain additional resources when reallocations between salaries and expenses are not possible.
The problem with the latter approaches is that targeted audiences may not have resources to pay user fees or to buy publications. Consequently, these approaches can have negative effects on programme impact.
There is probably no single "best" ratio to maintain between salaries and expense resources. The percentage of total resources spent on salaries might vary with the mixture of staff members e.
The amount of operating resources required to carry out the mission will be affected by geography, size of country, and method of programme delivery. However, as a general guide, if salary costs require more than 75 to 80 per cent of total resources, this is a fairly good indication that operating funds may be beginning to limit success.
Decentralizing the decision-making process The purpose of an extension organization is to deliver practical problem-solving educational programmes and to carry out various other designated activities.
These activities tend to be very location specific.Oct 07, · How Corporate Governance Affects Corporate Sustainability and Why It Matters. to be beneficial for financial performance. However, in our research, board independence was negatively associated.
Financial development and economic growth in Ghana: Does the measure of financial development matter? Section 3 of the paper presents some stylized facts about the financial sector and economic performance in Ghana while section for deals with estimation techniques and data issues.
Generally speaking, the more financial eggs you have in one basket, say all your money in a single stock, the greater risk you take (concentration risk). In short, risk is the possibility that a negative financial outcome that matters to you might occur.
Why Fonts Matter, and how they impact your mood Words by Sarah Hyndman, Tuesday 26 January Typography might just help you date, solve obesity and impact your mood; so we’ve learnt from type fanatic Sarah Hyndman. People management is a subset of human resource management, which deals with strategic, financial and policy issues, as well as people management.
Let us define these terms that are used so frequently when discussing organisational change.
Laurence H Meyer: Why risk management is important for global financial institutions Why risk matters Because taking risk is an integral part of the banking business, it is not surprising that banks have been condition and performance of borrowers and counterparties. To ensure accuracy, accounting systems. Why is net profit margin important? May 21, Posted by Sageworks There are numerous qualitative measures that can indicate expected financial performance when evaluating credit risk in new and existing business relationships. in fiscal year and analyze their financial performance. The results show that business models are a better predictor of financial performance than industry classifications and that some business models do, indeed, perform better than others.
Inequality begets greater inequality. In other words, disadvantages faced by children in low- and middle-income families and advantages held by their wealthy peers are two sides of the same coin.