Identifying Development Needs in Budget Management - Scholarship Essay Example

Identifying Development Needs Identifying The Needs Analysis Identifying Development Needs 2 The process of Needs Analysis concerning this particular proposal is to find out the skills gap that is in the delegates who attend this training program. It also includes the methods that are to be followed in the development process, and the reasons behind choosing the methods etc. The actual necessity was originated from the lack of certain budget management skills in managers and to manage future budgets also. This training program was opted by Best Training, and Kim Summers was the one chosen by the group to deliver the training, but the all the training would be given in Bourne Mouth Training Center. The Course should get completed by the end of July, as proposed by Kim Summers. The major requirements were that the training center could not offer a Course on Finance, would allow the management delegates to have a good knowledge on budget managing, since the managers and team leaders who would be attending this training program have very little and to be precise no experience and knowledge on budget managing. Kim Summers would also be benefited by having an additional qualification towards personal development and as a result she could be producing evidence for CIPD. Since To provide a clear understanding on the budget management and , to gather experience in budget preparation and to guide the delegates how to manage and control expenditure. These three requirements are found to be lacking in the managers. The motivation behind conducting this training is that the changes in financial support that takes place in the business field, and to cope up with the external influences and pressures Identifying Development Needs 3 from both the legal and management side concerning finance etc,. The field of business needs special training programs to be implemented in order to transform the business level to travel equal with other businesses , since the changes that occur in technology and working style, and the variations in the type of customers and their expectations leads to the alterations in the activities of the competitors. As a result in the over all market place a wide range of organizational is taking place often. Having this in mind many business organizations and business training centers work out on implementing training and needs analysis so that these changes could not affect their financial, production and marketing side of their business. A multi-skilling effect is absolutely required in manages and other managing staff. The problems that come out in an individual and from a group also needed to be solved. Here the problem is focused only on the managers. The course will be trained by Kim Summers with the help of Best Training in Bournemouth Training Center, as they could not offer a course especially on finance. Those who get trained will be the line members will be less comparatively with other training programs because all are line managers and team leaders, they will be focused on different aspects of financial managing and as said before they do have acquaintance with profit and loss variations in financial aspect of their business. This should be achieved by giving them exercises on various fields of finance or budget management. The locality is a posh one and it is located in one of the most important business centres in the United Kingdom , the other facilities are also seems to be favorable such as transportation, Identifying Development Needs 4 refreshments, various business centers and it is also convenient for the physically challenged to come and participate in this training well located for all kinds of business meetings. The resources and the methods which have been selected for this training program carry most of its exercises with the help of computer and internet. The method of giving visualized training comes under this category. Since visualization methods that are applied in training gives a better result in the understanding of the proposed aim of the training helps in practical application of the methods taught into the real business field. For example the training methods are suggested one from the CIPD institute. The reasons behind choosing these particular methods are as follows: 1. Internet sources and using computers for further understanding could help the trainees in a better way, since the time consumption will get reduced. They can work out their exercises in their own convenient free time, without interrupting their daily schedule. 2. Learning Practical application of managing budgetary controls definitely needs a better understanding of how to compare the financial status of their business from the beginning of the production to the end of marketing. 3. A line manager could improve his understanding of the profit and loss of the proposed budget and the completed budget of the same year of his business or company. Identifying Development Needs 5 4. Evaluation is found to be the most essential thing in understanding management. This includes the sections such as how to keep the budgetary control within the authorized amount, the process of comparing the actual performance and the planned one, in this the use of sources such as Power Point slides , Spread sheets, etc. will give a practical knowledge than what could be achieve through a normal training . The result will have more impact than the other methods. 5. The course exercises that have been planned to be distributed through Microsoft Word will also have the same and equal benefits like that of the previous methods mentioned above. 6. Providing network thorough Kath Chum, A qualified charted accountant is yet another method, which includes the best advices given on the course activities and exercises. Kath will guide the trainees for further explanations regarding the budgetary control and accounting. 7. The feedback method is one more good method of this training program which will result in an integrated and affordable performance in the line managers. More over the devices such as these will help the trainees to maintain records easily regarding their understanding of the aim of the training and the development techniques and all the delegates will get benefited. Identifying Development Needs 6 Finally the access through computers with internet facility is will be very flexible because the resources will be remain the same for all trainees in different regions, and if the experience is uploaded in a software is will be sustained for further future training also. Using these practical applications along with the intention to discuss on different types of budgets, and monitoring and controlling, budget planning exercises and forecasting on the plans of various ranges of budgets and providing an effective communication on profit and loss account with the help of spread sheets and power point slides will definitely result in expected development in the working style of the line managers. One more thing that should be noted here is that the participants of this training are line managers and they do not have a clear knowledge on budgetary control so this visualization method of training including what is called an E-learning will reach a good result. Discussion of different types of budgets along with the application of budget control techniques will enhance the managers to concentrate more on how to develop their skills in budget and the practical experience that is given in the form of training to calculate a budgetary plan for a marriage as a primary examination of what they have understood from the training will help both the trainer and the trainee to evaluate the effectiveness of the training. And monitoring and control over budget planning with the additional aspects of effective communication, planning and forecasting on budgetary Identifying Development needs 7 plans will have a good result in the trainees, which in future they could apply successfully. While comparing the other methods that are involved in the development training program, the financial support given by the organization should also be taken into account, because running a development course needs quiet large sum, as the members will be of managerial grades and their accommodation and refreshments and training materials and transportation have to be considered in a reasonable budget. The sources and methods of training also come under this category because the organization needs to include all these. So what ever is possibly moderate will be appreciated, and moreover the budget should be calculated for running this course so as to meet out the expected developmental skills in the line managers and the provided financial support of the organization. Where as other methods such as Critical Incidents, Focus groups, learner Centered analysis, Consensus Techniques, Assessment Centers and Global Analysis would include surveys, more members or participants to form work groups, external consultants and Schedule of events respectively. These things need more number of participants and expenses will also increase. Above all the time limit given for Kim Summers is limited within that he could not carry out the specified methods mentioned. In other words training with the help of Microsoft word, Excel spread sheet, and power point presentation will assist in a great way to complete the expected course within the time limit. Identifying development needs 8 Kim Summers, is not an experienced trainer, she is just a fresh candidate and so she might not produce other evidenced mentioned in others to facilitate her program. If she spends the time limit to conduct interviews and group focus she may have to ask for more time, which is not possible. And the number of participants is less comparatively so interviews cannot be conducted, as the surveys require at least 50 participants so that the average opinion could be gathered. If assessment centers are employed it needs external consultants, again the matter of budget proposed for training will get disturbed. Recommendation: 1. The aim of the training is to provide details and training to the line managers on what is budget, how to manage budgetary control, and since all the participants are line managers and as said above they have very less idea on budgets, the sources in the form of software is quiet good and inexpensive. 2. The training centers cannot afford financial support to a great extent and this has to be kept in mind and the methods should be planned according to the budget provided, so the process of using computers and internet browsing will help a lot to meet out the budget. Since practicing and analysis the information and exercises with the help of personal computers will reduce the time limit spend for understanding by the trainer. But this cannot be followed in all the time since more practical experience also gives more understanding of the concept. Identifying Development Needs 10 3. Mentor and coaching which is also included seems to be good on both the sides. One will be that Kim Summers herself will add the additional experience to her portfolio and the second thing would be that the delegates could clear their doubts. 4. The course need to be conducted as a no cost exercise as there will be very less number of participants so the methods suggested for training sounds good rather that other methods which are comparatively expensive. 5. The timing given for this course seems to be barrier, since the feedbacks from the trainees need to be analyzed and course methods should be corrected accordingly. Though Kath Chum has been given the responsibility to collect the feedback, it will be better to have a general direct communication section with Kim Summers and Pat Birtwell as Summer’s mentor. And this seems to be less possible as special time factor has not been assigned for this. 6. The Mentors generally should have a good understanding with his or her colleagues, who will work as line managers, so that these mentors or experienced higher level managers will guide them for to a successful out come. But here the trainees are to be trained in different business and the main thing would be mentor should be related to this various businesses, but here the delegates are not possibly familiar with the appointed mentor. So it would be better to have mentors instead of a single mentor, with the intention to provide best training in all the possible businesses. Read More