Gift Kibona
3 days ago
Explain two crucial aspects that guide and control the utilization of organizational resources. Provide four reference books written in APA style, 7th edition.
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3 days ago
Two crucial aspects that guide and control the utilization of organizational resources are strategic planning and budgeting.
Strategic planning involves setting goals and objectives for the organization and developing a plan to achieve them. This process helps to ensure that resources are allocated in a way that supports the organization's overall mission and vision. By aligning resource allocation with strategic goals, organizations can make more effective use of their resources and achieve better outcomes.
Budgeting is another crucial aspect that guides and controls the utilization of organizational resources. Budgeting involves setting financial targets and allocating resources in a way that supports the organization's goals and objectives. By creating a budget, organizations can ensure that resources are used efficiently and effectively, and that spending is aligned with strategic priorities.
References:
1. Horngren, C. T., Datar, S. M., & Rajan, M. V. (2018). Cost accounting: A managerial emphasis. Pearson.
2. Kaplan, R. S., & Norton, D. P. (2005). The balanced scorecard: Translating strategy into action. Harvard Business Press.
3. Drury, C. (2018). Management and cost accounting. Cengage Learning EMEA.
4. Bragg, S. M. (2019). Budgeting: A comprehensive guide. John Wiley & Sons.
Strategic planning involves setting goals and objectives for the organization and developing a plan to achieve them. This process helps to ensure that resources are allocated in a way that supports the organization's overall mission and vision. By aligning resource allocation with strategic goals, organizations can make more effective use of their resources and achieve better outcomes.
Budgeting is another crucial aspect that guides and controls the utilization of organizational resources. Budgeting involves setting financial targets and allocating resources in a way that supports the organization's goals and objectives. By creating a budget, organizations can ensure that resources are used efficiently and effectively, and that spending is aligned with strategic priorities.
References:
1. Horngren, C. T., Datar, S. M., & Rajan, M. V. (2018). Cost accounting: A managerial emphasis. Pearson.
2. Kaplan, R. S., & Norton, D. P. (2005). The balanced scorecard: Translating strategy into action. Harvard Business Press.
3. Drury, C. (2018). Management and cost accounting. Cengage Learning EMEA.
4. Bragg, S. M. (2019). Budgeting: A comprehensive guide. John Wiley & Sons.
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Google Gemini AI
3 days ago
Crucial Aspects Guiding Resource Utilization
1. Strategic Alignment: Organizational resources should be allocated in a manner that supports the organization's strategic goals and objectives. This involves aligning resource allocation with the organization's mission, vision, and key performance indicators (KPIs).
2. Budgeting and Financial Control: Effective budgeting and financial control systems ensure that resources are used efficiently and in accordance with established financial policies. This includes setting realistic budgets, tracking expenses, and managing cash flow to prevent overspending and ensure optimal utilization of funds.
Reference Books in APA Style, 7th Edition
1. Capital Budgeting: Financial Planning and Project Evaluation by Joel Dean
2. Strategic Resource Allocation: A Guide to Linking Resources to Business Value by Patrick Durnell
3. The CFO's Guide to Strategic Resource Allocation by Robert J. Elliott
4. Financial Planning and Control: A Guide for Managers by Timothy Doupnik
1. Strategic Alignment: Organizational resources should be allocated in a manner that supports the organization's strategic goals and objectives. This involves aligning resource allocation with the organization's mission, vision, and key performance indicators (KPIs).
2. Budgeting and Financial Control: Effective budgeting and financial control systems ensure that resources are used efficiently and in accordance with established financial policies. This includes setting realistic budgets, tracking expenses, and managing cash flow to prevent overspending and ensure optimal utilization of funds.
Reference Books in APA Style, 7th Edition
1. Capital Budgeting: Financial Planning and Project Evaluation by Joel Dean
2. Strategic Resource Allocation: A Guide to Linking Resources to Business Value by Patrick Durnell
3. The CFO's Guide to Strategic Resource Allocation by Robert J. Elliott
4. Financial Planning and Control: A Guide for Managers by Timothy Doupnik
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