Q3-(b1)-Essay Type 1. Organizations must manage their finances so that revenues are enough to cover costs and still make some profit. There are several financial control tools that organizations can use to control their financial resources such as budgets, financial statements, and financial audits. Interpret the concept of budgeting control and highlight its advantages and disadvantages supporting your answer with practical examples from the business world

2. Management and Leadership are related but different constructs. Comment on the above statements stating your preference between the two concepts and illustrate 3 areas of activity that they differ in supporting your answer with practice examples.

3. Part of Elements of organizing is establishing reporting relationship. Assume you are given an opportunity as part of your job to design an organizational structure for zxy organization. Apply the concept of chain of command, span of management and differentiate between tall and flat structure discussing some of the elemnts that effect the span of control.