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However, before anything else, it is a good idea to understand something about the chosen company.
The Southeast Asia (S.E.A.) Olympus Marketing Incorporated is one of the affiliates of S.E.A. Olympus Group of Companies, which was founded in the Philippines in 1983. The other affiliates are SPARKO, distributor of imported surface coatings and SCADE Industrial Corporation, a manufacturing plant of stainless water tanks such as storage water tanks and hydro pneumatic pressure tanks. The S.E.A. Olympus Marketing Incorporated is both a trading and manufacturing company which operates nationwide in the Philippines. It has branches in the three major islands of the Philippines. The S.E.A. Olympus Marketing Incorporated is responsible for the distribution of products produced by other affiliates. Originally, the company was a distributor of composite materials such as resin and fiber glass to the fishing and fashion industries.
Today, the S.E.A. Olympus Marketing Incorporated is having a link with its main suppliers in Singapore, Taiwan and China. This year, it is planning to expand in the entire country and later in the Southeast regions in Asia. As of the moment, it has sub-business units (SBU) in the major cities in the Philippines as part of its strategic positioning. This year, its goal is to expand, but part of it is to carefully manage its finances.
At the national level, the S.E.A. Olympus Incorporated might appear to have a very complicated organizational working structure of working departments. For the purpose of looking at the micro level of the organization’s activity, this paper examines the working business units in the country. S.E.A. Olympus Marketing Incorporated is composed of sub-business units working together for one goal. Each of this sub-business unit is composed of general support group and frontline group. The general support group is composed of the Accounting
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This is, till now, considered to be the roadmap for the future development of a business. It clearly states about business’s objectives, business finances and its forecasts, and business’s share in the market (Wildavsky, 1996). Budgeting is a tool which can measure the success of the business, its rate of growth and possibilities of further future development.
Accounting is a process of tracking record of varied transactions in an appropriate manner. Moreover, accounting is a procedure of recording transactions of businesses with relation to receipt and payment as well as incomes and expenditures.
Budget is used in business organizations for developing future plans for production, sales, training and almost all other activities. Budget can be used for managing the administrative operations and motivating employees to perform coherently with the organizational goals.
The use of budgets in the improvement of management performance and control within global businesses Introduction Budgeting is a management tool for performance measurements and its variants have appeared from time to time depending upon the market situation, prevailing competition etc.
Accounting Table of Contents The Purposes of Budgeting 2 Conventional Budgeting Process in the Global Context 2 Zero-based Budgeting 3 Activity-based Budgeting 4 Beyond Budgeting Model 4 The Behavioural Aspects of Budgeting 6 Reflection 7 Bibliography 8 Traditionally, the main use of budgeting has been to control expenses and facilitate planning process.
Budgeting Introduction:Budgeting plays an important role in a business. It is very significant for the reason that it permits the firm to ensure of how much credit it may provides to consumer before it begins to have liquidity troubles. “Cash budget is an opinion of inflow and outflow of the business of an organization for a particular period of time” (Foley 2009).
Application of consumer behavioural theory to the company and its strategic band management is imperative for furthering the marketing dimension.
Everybody, in the modern society, is a consumer with professional and personal dimensions. Whatever is the age, profession and region could be, all of us are consumers in one way or other.
An organisational stakeholder can be defined as "anyone with an interest, or stake, in the actions of the organisation and its members" Buchanan and Huczynski (2004). This definition of organisational stakeholders includes those internal and external to the organisation.
as very critical for the optimum performance of the organization as it provides the set pattern to the management that it has to follow and makes the job of making performance analysis easier for the management as it is taken as the criteria against which the output or outcomes
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