Week 6 Discussion post
Business Finance
Answer in 200-300 word count and respond to Melissa post
Explain the cycle of bias by lower-level managers and bias adjustment by upper-level managers that can spiral out of control resulting in meaningless budgets. What features should a budgetary system have to encourage managers to engage in goal-congruent behavior (managers select actions that maximize overall company profits)? Give examples of bias and how goal congruence has been achieved at your current or a past employer.
Respond to this post in 100word count
In this course to me the most challenging area is learning , understanding and comprehending terms that are new to me. I state this as a fact because in my area of work as an assistant I do not deal with break-even points, cost-volume profit, and margin of safety ratio, fixed costs, variable cost and other terms used in the world of business. These are not only terms I have to familiarize myself with, knowing how to use them is also important. Using these terms in computing and calculating using formulas is also a challenge for me as well when using Excel. Reading and reviewing examples in the text is another challenging area trying to determine which example is beneficial and helpful in completing my individual assignments as well as the team assignments. I desire to learn more in every chapter we have covered because I feel there is never enough time spent to learn all the detailed information displayed that can someday be beneficial and helpful in my future career as a business owner. For example, in Excel I use my calculator to compute and calculate once I review and example that is similar to the scenario I need to complete in Excel I have not learn how to compute using the information within the program. I find that excel is easier if you are able to use the right formats to complete the calculations as well as using the formulas. Other challenging areas are preparing statement that companies uses for their businesses such as the Cost-Volume Profit Statement, income statement, and financial statements. I desire more understanding in all the area listed above for future reference.
