Please prepare a memo based on the directions in the attachment with references as well. Thank you!
Directions for Case Study The budgeting process and budgets themselves have significant impacts on management actions and performance, in both positive and negative ways. It is common at many local, state, or national governmental agencies, and nonprofit organizations, and even in some for-profit enterprises for managers to increase spending at the end of the budget cycle. This process, usually referred to as \"use it or lose it" can be harmful to objectives of any organization. Managers do this, as they often feel that if they don't spend the amount that was budgeted this year, next year their supervisors will reduce their budget by the amount not spent in the current year. So, to avoid having their budget dollars reduced, managers often increase spending at the end of the year to ensure all budgeted amounts are spent even if items are not necessarily needed. This is more common in government and nonprofit organizations, but can be found in for-profit enterprises as well. Requirement: Write a memo to the budget managers in an organization, assuming you are the CEO. Your memo should direct budget managers not to utilize this approach, but also offer a logical rationale, and perhaps an alternative solution. IT 500 Help With Memo Assignment Here is a general structure that you can use for your memo assignment. To: All Employees From: HR Department (or your name) Date: Today RE: My Memo Assignment XYZ... Opening lines would state what is being done, such as a policy on recording phone calls, monitoring emails, and so on. There is no minimum or maximum length here. Averages tend to be two or three paragraphs. Controversies Note the section heading. This helps to distinguish the text that you include to discuss controversies. As a hint, why is your topic controversial? What part of the opening paragraph stating the policies might someone find controversial and why? One may assume that stating \"we are reading your email\" is controversial, but why? Is it that the employees may expect such things to be private, but the company states otherwise? Best practice is to spell it out and not assume (even though in many cases the controversy may seem obvious). This is your chance to show critical thinking and analysis of why this is a controversy. Within the context of the memo, you can use writer's prose to explain this to your employees if you want (not required, just a suggestion). Legislation Again, note the section title; this helps the reader distinguish your objective. Think of it in terms of you as an employee. If HR sends you a memo, you may not want to read an entire law word-for-word. Instead, consider mentioning a law by name, and giving a three- or four-sentence high-level overview in your own words of what the law is about, what the ruling was, or what impact this has on your company. It can be longer, of course, but the goal of the assignment is to stay high-level to some degree. All assignments should have supporting arguments (cited if external sources are used). This section is one that lends to accomplishing this task easily. Future Direction For this section, what is the future direction of the items mentioned so far in the memo? Will the laws get more lax, or stronger? Why? Will the laws stay the same, and if so, can you support that argument? How will this affect your company? Will your company enact more security and monitoring, such as blocking outbound emails containing social security numbers, credit and debit card numbers, bank account numbers, and so on? Why? (Hint: PCI DSS requirement) References In real life, a memo likely would not contain a references section, but as an academic exercise, we do have to ask that you cite any resources that you use as supporting arguments and information. The rubric requires use of scholarly resources. To: Budget Managers From: CEO Date: RE: Over spending in end-of-year money by managers. As the financial year is coming close to end, it is observed that some departments are left with surplus budget and the managers are exhausting their budget by overspending. Though budgeting is a cumbersome process and the estimates cannot be made with a reasonable accuracy. Take Budgets by Objectives not by Time The departments enjoying surplus budget should understand that the purpose of the budget is to make sure that the resource allocation is done to attain certain goals. The funds saved in the current year may be useful in the coming years. It is always expected from the departments to add value to the organization with limited resources. If the budget ends with surplus, it should be worked out that how efficiently the balance can be used to support the organizational goals. Incentives for Performing Under Budget The managers as well as the subordinates of the departments that have produced high quality results with low utilization of budget should be made eligible for bonus. The managers underutilizing the budget should be given a chance to participate in pilot program of adoption of new technologies. They should be given chance to take ownership of new projects and investments. At the time of reviewing performance of the manager there should be a document that identifies the under expenditure for future years and it should be considered a positive performance. The review should be made considering the targets and funds allocated to achieve those targets. The managers who have not utilized the budget in full should also be asked to submit a justification on why his budget was underutilized and why his budget should be decreased. CEO References http://www.cioinsight.com/it-management/it-budgets/five-tips-for-use-it-or-lose-it-budgets http://www.cioinsight.com/it-management/it-budgets/five-tips-for-use-it-or-lose-it-budgets
