Management Accounting Essay Example | Topics and Well Written Essays - 1500 words - 7

Management Accounting - Essay Example On the other hand, there are those who view budgeting as one of the major impediments of the process of goal achievement. Marcino (2000) as well as Jensen (2001) are key advocates of this theorem. The two argue that the allocation of resources within an organization is to large extent being hindered by the various budgetary processes adopted by the various organizations. â€Å"Myopic decision making and other dysfunctional budget games† are cited to be some of the reasons why achieving these budgets becomes difficult and even where achieved, there is little difference that can be attributed to it. Bergstrand and Olve (1996) defined budgeting as the traditional way of managing and controlling companies. Companies use the budget to plan and coordinate for the preceding financial period. Some of the main objectives of the budgetary process include resource allocation, employee motivation and operations coordination. It also helps in the evaluation of performance (Libby and Lindsay 2003). Looking at all this therefore the budgetary process has for a long time been used for the same reason, and thus the majority of the organizations has resulted in using the same traditional budgetary processes over and over again. The traditional budgetary process has resulted so different problems in various organizations including but not limited to top down command orientation issues as well as poor planning and performance evaluation processes. While doing their research Neely et al. (2001) identified a number of budgetary weaknesses that were associated with the majority of the traditional budgets. Some of them includes the time consuming nature of the budgetary processes, constrain responsiveness and the most common barrier to change, lack of focus and presences of contradictions, the over emphasis on cost reduction with less focus on value, infrequent budget development and updating, improper preparation of the underlying assumptions and their inability to reflect

Effective team and performance management Essay

Effective team and performance management - Essay Example Performance management is an integrated and strategic approach to deliver flourishing results in organizations, by the improvement of performance, and by building the capability of individuals and teams. Performance management is important in achieving qualitative performance and superior standards. This project deals with the functions of effective team and performance management, and how they weekly reflects on the group exercise explaining the significant success factors in the growth of a team. It describes its reflections on the experience of practical seminar activities of team and performance management. It also explains group experience from the view of group members imaging their experience. This study evaluates the principles of inter-personal relationship, tries to understand group behaviour and dynamics of organizational behaviour, by analysing the various factors that influence individual behaviour in a team. The study evaluates effective management practice and behaviou ral skills in a team environment, which generate personal as well as organisational performance impact. Regarding effective team and performance management, the study classes include four activities, and they are animal survival reflection exercise, the activity can which adapt learning skills with the level of educational achievements. Other activities are egg flying activity, Belbin’s team role and lost on the moon. These activities study group behaviour and group efforts which help n building an effective team. 2.1) Reflect on what you learned from the group exercise in week one - three (Learning outcomes 3 and 4) It was a great experience that I received during the activities in the class as a team. I enjoyed it a lot. In the group exercise, from week one to week three, I learned about the application of organizational behaviour, and the theories of learning in the context of business. I also learned the factors that influence individual behaviour in a team. In the week o ne activity, I came to know the ways to accomplish assigned work, to respect team members, and how to hold on when the group falls beyond its expectations. The team began to perform well in norming stage. â€Å"Groups can also exert enormous in?uence on individuals through the medium of norms† (International Relations and Group Processes n.d) Each individual began by contributing their best for the improvement of the team. As a result of this, more effort was exerted by the group thereby bringing harmonious relation among the team members. All group members presented themselves at the meeting on time, so that they could closely follow the proceedings of the meeting, and no one was supposed to interrupt the meeting by arriving late at the venue. I, as a team member also learned about how to behave in a meeting, when to present our own opinions, if any; and to encourage silent members in the group to speak out. Decisions were made by the unanimous support of the team members. à ‚   A significant factor of success in the growth of a team, depends on the concept that all players in the team are equal in decision making; and that every team member is valued, and that they that contribute well for the team. All members should be honest in their communication, and should speak frankly without hurting the self-esteem of co-members. The active participation of team members in