...Personal Financial Planning Worksheet Directions Based on your readings and discussions in class this week, answer the following multiple choice questions. 1. The process of creating a detailed plan to meet your financial needs and prepare for the future is called personal financial planning 2. Which of the following is not one of the five major steps of the financial planning process? Collect and organize your financial information. 3. Which phase in life is commonly associated with focus on marriage, family, purchasing a home, and career development? Late 20s through your 40s 4. Which of the following is a benefit of having a college degree that can affect your financial planning? All of the above 5. Which of the following elements of a comprehensive financial plan involves analyzing future needs, such as saving for retirement or college funding for dependents? Securing basic needs Directions Respond to the following short-answer questions in 50-to 100-words: 6. People have different styles when it comes to handling their money. List the two things that affect your personal beliefs and opinions about financial planning. How well do you feel you manage your money? Can you spot areas for improvement in your money management style, and if so, where/how? Values (fundamental beliefs about what is important in life) and attitudes (opinions and psychological differences between people that affect their decisions) influence your personal...
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...2/09/07 02:23am Page 1 1 PERSONAL FINANCIAL PLANNING IN ACTION Developing a Personal Financial Plan Starting Point Go to www.wiley.com/college/bajtelsmit to assess your knowledge of developing a personal financial plan. Determine where you need to concentrate your effort. What You’ll Learn in This Chapter ▲ Personal financial planning and decision-making strategies ▲ Factors that influence financial planning ▲ The stages of successful financial planning After Studying This Chapter, You’ll Be Able To ▲ ▲ ▲ ▲ List the five steps in the personal financial planning process Examine the factors that influence personal financial planning decisions Begin to construct a comprehensive financial plan Consider opportunity costs and marginal effects in making personal finance decisions baj01275_c01_001-021.qxd 2/09/07 02:23am Page 2 2 PERSONAL FINANCIAL PLANNING IN ACTION INTRODUCTION Knowing how to manage your finances can help you be more successful in life. In this chapter, we first look at the five-step financial planning process and then the factors that influence it, and we discuss the elements of a comprehensive financial plan. Finally, we explore strategies for making effective financial decisions. With this framework, you will be able to gain the tools for successful personal financial management. 1.1 The Personal Financial Planning Process In your life, you’ve probably already faced some financial challenges. For example, maybe you’ve asked...
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...Workforce Planning 1. Workforce Planning Overview Workforce planning is a crucial element of business planning. Workforce planning is crucial. It is a process of forecasting your workforce needs to ensure sustained business success and growth, and deciding on strategies to attract, develop, engage and retain employees. This section of the guide covers the following topics: 1. workforce planning considerations 2. how to undertake workforce planning. The workforce planning checklist (page 13) contains key information about workforce planning. Page 7 1. Workforce planning: what to consider Workforce planning: the process of forecasting workforce needs and determining the broad range of policies and systems that will create and sustain the workforce in line with business strategy. Workforce planning assists businesses to undertake expansions, restructures, reforms or downsizes in a strategic manner ensuring that the right staff are recruited or retained to take the business forward. The workforce plan sits beside business and financial plans as a fundamental tool in realising the goals of an organisation. These planning components go hand in hand – it would be difficult to set a goal to expand production by 20% if you were unsure how much capital investment is required or whether you could get the right skilled people. The Territory working age population (aged 15+ years) is estimated to be around 180 700 persons in 2012 and is projected...
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...Excellence in Financial Management Course 10: Strategic Planning Prepared by: Matt H. Evans, CPA, CMA, CFM This course provides a concise overview of how to do a strategic plan. The entire strategic planning process is outlined within this course. This course is recommended for 2 hours of Continuing Professional Education. In order to receive credit, you will need to pass a multiple choice exam which is administered over the internet at www.exinfm.com/training Chapter 1 Preliminary Considerations What is Strategic Planning? The essence of management includes the ability to plan. As you work your way up the organization, planning moves from operational to strategic. Strategic Planning is one of the principal responsibilities of upper-level management. Once management decides on the Strategic Plan, lower-level managers implement the Strategic Plan through an Operating Plan. Strategic Planning attempts to answer a very fundamental question: Where do we want to be one year from now, two years from now, three years from now, etc.? Strategic Planning requires that an organization develop a vision of itself - how do we see ourselves in the future? Strategic Planning looks at the big picture from a long-range perspective whereas the Operating Plan represents the specific tactics for carrying out the Strategic Plan year to year. Strategic Planning is a process whereby an organization makes choices about: ▪...
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...Career planning and its benefits? What is Career Planning? Career planning is a lifelong process, which includes choosing an occupation, getting a job, growing in our job, possibly changing careers, and eventually retiring. The Career Planning Site offers coverage of all these areas. This article will focus on career choice and the process one goes through in selecting an occupation. This may happen once in our lifetimes, but it is more likely to happen several times as we first define and then redefine ourselves and our goals. Process The career planning process has four steps: Step 1: knowing yourself Step 2: finding out Step 3: making decisions Step 4: taking action Step 1: knowing yourself Begin by thinking about where you are now, where you want to be and how you’re going to get there. Once you have thought about where you are at now and where you want to be, you can work on getting to know your skills, interests and values. Begin by asking yourself the following questions: Where am I at now? Where do I want to be? What do I want out of a job or career? What do I like to do? What are my strengths? What is important to me? At the end of this step you will have a clearer idea of your work or learning goal and your individual preferences. You can use this information about yourself as your personal ‘wish list’ against which you can compare all the information you gather in Step 2: finding out. Your personal preferences are very useful for helping you choose your best...
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... | Copyright © 2010 by University of Phoenix. All rights reserved. Course Description The course explores fundamental concepts of management theory as applied to health care. Students will examine the organizational structure of the health care delivery system and administrative processes such as planning, problem solving, decision making, and quality productivity improvement. Emphasis will also be placed on the major issues and problem areas confronting health service administrators. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course...
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...and 30 mnts STEP 1: Review background information Review the case study on Acme Medical Data Storage LLC, given in the Scenario/Summary section above, paying careful attention to the characteristics of the company and its IS projects. NOTE: This is an individual, not a team, iLab. In your review, make notes specifying how you would rate the following characteristics of the company and project. These notes will not be turned in, but you will use them in conducting your analysis in Step 2 and preparing your memo in Step 3. 1. Is theproject technologyextremely stable, moderately stable, or experimental? 2. At the start of the project, are theproject requirementswell known, partially known, or mostly unknown (i.e., experimental)? 3. Is theproject domainheavily regulated, moderately regulated, or lightly regulated by government or other outside agencies? 4. Is thesize of the organizationlarge, mid-sized, or small? 5. Is theorganizational culturebureaucratic, mixed, or entrepreneurial? 6. Is theorganization's competitive environmentslow-paced, moderately paced, or fast-paced? STEP 2: Analyze SDLC suitability Based on the information given in the case study, analyze the suitability of a specific Software Development Life Cycle (SDLC) model for Acme Medical Data Storage LLC: • If the last digit of your DSI Number is 0, 1, 2, or 3, use theWaterfall SDLC; • If the last digit of your DSI Number is4, 5, or 6, use theUnified Process; and • If the last digit of your DSI Number...
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...[Date] Part Three Based on your historical financial analysis, summarize your organization financial performance over past 3 years The financial performance of App Holster LLC is worst as compared to its competitor i.e. Digitilus LLC. The annual profit of App Holster LLC is $50,000, whereas, its annual profit increases over the time of three years as, $87,000 in 2014, and $240,000 in 2015. On the other hand the annual profit of Digitilus LLC is $ 340,000, which is 85% of App Holster LLC in 2013, and 74% and 29% greater than the profit of App Holster LLC. (App-Holster-LLC, Online). App Holster operates with the total capacity of employee which are 3 from 2013 to 2014, and increased to 6 in 2015 respectively, whereas as Digitilus LLC operates with the lesser number of employees i.e. 5. According to the revenue of App Holster, it is managalbe for the company to remain profitable with the current number of employee which includes outsource workforce too. The revenue per employee of App Holster LLC is $ 8,333, which is increasing by 57% in 2014, and by 73% in 2015. In 2013 the revenue per employee of App Holster LLC is 82% lower than the Digitilus LLC, improving by 57% lower in 2014 and further improved by 41% in 2015. The revenue per employee of Digitilus LLC is $68,000. To put this in perspective, a typical company in the United States brings in $57,500 per employee, suggesting that companies in this industry generate more revenue per employee on average. Based on your analysis...
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...THE PROCESS OF STRATEGIC PLANNING ARTICLE #1 OF 10 INTRODUCTION TO STRATEGIC PLANNING Strategic planning is to a business what a map is to a road rally driver. It is a tool that defines the routes that when taken will lead to the most likely probability of getting from where the business is to where the owners or stakeholders want it to go. And like a road rally, strategic plans meet detours and obstacles that call for adapting and adjusting as the plan is implemented. Strategic planning is a process that brings to life the mission and vision of the enterprise. A strategic plan, well crafted and of value, is driven from the top down; considers the internal and external environment around the business; is the work of the managers of the business; and is communicated to all the business stakeholders, both inside and outside of the company. As a company grows and as the business environment becomes more complex the need for strategic planning becomes greater. There is a need for all people in the corporation to understand the direction and mission of the business. Companies consistently applying a disciplined approach to strategic planning are better prepared to evolve as the market changes and as different market segments require different needs for the products or services of the company. The benefit of the discipline that develops from the process of strategic planning, leads to improved communication. It facilitates effective decision-making, better selection of tactical options...
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...Management Planning Paper (Halliburton) Antwon Snyder University of Phoenix Axia Management Planning Paper The planning function of management is very important for the sustainability of businesses. Planning is essential for businesses and their employees to function efficiently and maintain profit levels. In addition, management has to assess their current companies and determine what steps are to be made in the future. In the event of problems, managers should follow procedures to continue functioning. In this paper, Halliburton will be discussed, and their planning functions. In addition, legal issues, ethics, and corporate responsibility will be discussed pertaining to management planning. Additionally, three factors that influence Halliburton’s strategic, tactical, operational, and contingency planning will be discussed. Ultimately, efficient planning is the key to success for businesses and organizations. Halliburton is one of the world's largest providers of products and services to the oil and gas industries. Halliburton is also the world’s second oil and gas operation, and it functions in more than 75 countries. In addition, Halliburton has many branches and affiliates that deal with companies all around the world. The company is based in Houston, Texas, and also has agencies in Dubai and the United Arab Emirates. In recent years, Halliburton has been in a few scandals that has hurt their reputation. As a result, the public has view Halliburton...
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...and 30 mnts STEP 1: Review background information Review the case study on Acme Medical Data Storage LLC, given in the Scenario/Summary section above, paying careful attention to the characteristics of the company and its IS projects. NOTE: This is an individual, not a team, iLab. In your review, make notes specifying how you would rate the following characteristics of the company and project. These notes will not be turned in, but you will use them in conducting your analysis in Step 2 and preparing your memo in Step 3. 1. Is theproject technologyextremely stable, moderately stable, or experimental? 2. At the start of the project, are theproject requirementswell known, partially known, or mostly unknown (i.e., experimental)? 3. Is theproject domainheavily regulated, moderately regulated, or lightly regulated by government or other outside agencies? 4. Is thesize of the organizationlarge, mid-sized, or small? 5. Is theorganizational culturebureaucratic, mixed, or entrepreneurial? 6. Is theorganization's competitive environmentslow-paced, moderately paced, or fast-paced? STEP 2: Analyze SDLC suitability Based on the information given in the case study, analyze the suitability of a specific Software Development Life Cycle (SDLC) model for Acme Medical Data Storage LLC: • If the last digit of your DSI Number is 0, 1, 2, or 3, use theWaterfall SDLC; • If the last digit of your DSI Number is4, 5, or 6, use theUnified Process; and • If the last digit of your DSI Number...
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...Crewe Student of PGDip in Strategic Management and Leadership Final assignment submission date: 07/02/2013 Table of Content Subject Page Task 1…………………………………………………………………………………………………………………………………………...2 1.1 Three models of strategic change…………………………………………………………………………………………...2 1.2 Evaluating the relevance of the models in organizations in current economy……………………....…6 1.3 Assessing the value of strategic intervention techniques in organizations……………………………….7 Task 2…………………………………………………………………………………………………………………………………………...8 2.1 Examining the need for strategic change within Tesco…………………………………………………………..…8 2.2 Assessing the factors that driving the need for change within Tesco………………………………………..8 2.3 Assessing the resource implications of an organization not responding to a changing market..9 Task 3………………………………………………………………………………………………………………………………………….10 3.1 Develop systems to involve stakeholders in the planning of changing and show how you would evaluate these systems……………………………………………………………………………………………………………….10 2.2 Develop a change management strategy with stakeholders and how you would create a strategy for managing resistance to change…………………………………………………………………………………11 Task 4………………………………………………………………………………………………………………………………………….14 4.1 Three models of strategic change………………………………………………………………………………………….14 4.2 Evaluating the relevance of the models in organizations in current economy……………………....14 4.3 Develop appropriate measures to monitor progress ……………………………………………………………...
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...------------------------------------------------- Strategic Plan 2015-2019 ------------------------------------------------- Strategic Plan 2015-2019 Planning for HR needs will help to ensure your employees have the skills and competencies your business needs to succeed. An HR plan works hand in hand with business plan to determine the resources we need to achieve the business’s goals. The following three-step method is designed to help you determine whether or not you are ready to hire: * 1. Identify Business Strategy and Needs * 2. Conduct a Job Analysis and Write a Job Description * 3. Determine the Feasibility of Hiring If you decide that you need additional employees to fulfill your business strategy, it is recommended that you conduct a four-step job analysis: 1. Review your current workforce. 2. Identify any skills and knowledge gaps. 3. Write a Job Description 4. Set an Appropriate Salary * Stage 1- CV Submission * Stage 2- Application Submission by shortlisted candidates * Stage 3- First Level Interviews * Stage 4- Case Study Based Group Discussions (Business Specific) * Stage 5- Final Interview Headhunting (also known as Executive Search) This is the most pro-active method of recruitment; this approach targets the very best candidates, who are usually happy in their current positions and therefore do not read job advertisements. Candidates who are approached using...
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...externally? Do you have a disciplined way of choosing priorities among competing programs and services, under tighter and more stringent budgets? How are you keeping score and communicating progress toward the vision? If you need to make hard choices among competing programs and services for tight budget dollars, if you are looking to increase program and service effectiveness and improve operational efficiency and performance, and if you need to become a more strategy focused organization then a balanced scorecard may be the best planning and management framework for your organization. This article describes how to build a strategy-based balanced scorecard system, and shares some lessons learned from developing strategy-based scorecard systems in dozens of government and nonprofit organizations in 22 countries and from training over 5000 people from 150 organizations. “Balanced scorecard” means different things to different people. Balanced scorecards have evolved over the past decade from dashboard systems that simply measure financial and non-financial performance, to holistic, strategic planning and management systems that help organization’s plan strategically, and manage and track strategy execution. Strategy-based balanced scorecards align the work people do with organization mission, vision and strategy, and communicate strategic intent internally to employees and externally to stakeholders. In strategy-based scorecards, performance...
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...MANAGING YOUR FINANCIAL SITUATION Cancer and its treatment can leave a survivor with a need to review current and future financial goals. Events such as illness, disability, employment changes and investment disappointments can affect your personal and financial well-being. An assessment of your situation can help define your present financial status as well as prepare for future planning, saving, spending and dealing with financial emergencies. Preparation for changes and challenges to finances can contribute to increased financial security. ------------------------------------------------- Assessing and Managing Your Financial Situation: Detailed Information This information is meant to be a general introduction to this topic. The purpose is to provide a starting point for you to become more informed about important matters that may be affecting your life as a survivor and to provide ideas about steps you can take to learn more. This information is not intended nor should it be interpreted as providing professional medical, legal and financial advice. You should consult a trained professional for more information. Please read the Suggestions and Additional Resources documents for questions to ask and for more resources. Cancer and its treatment can leave a survivor with need to review current and future financial goals. Dealing with financial matters might seem overwhelming. However, an assessment of your current situation can help define your present financial status, as...
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