Our Services

Get 15% Discount on your First Order

Project Overview: In the previous project part, you developed a flexible (flex) budget based on an unforeseen expense provided to you by your professor.

May 20, 2024

Project Overview:

In the previous project part, you developed a flexible (flex) budget based on an unforeseen expense provided to you by your professor. For this project part, you will take things one step further by determining ways to reduce spending in different areas or aspects of your business.

Using your operational budget as a guide, determine three potential cuts to spending in your business. These cuts may be broad (e.g., an overall staff reduction of X%) or targeted (e.g., switching from expensive oak to much cheaper pine for the production of skateboards).

The goal is not to create an immaculate budget, but to find creative opportunities for reducing your overall spending without affecting the quality of your product or the health of your company.

Bear in mind that business solutions, especially with regard to budgeting, are rarely straightforward. Not every cut your team makes will be a matter of simple subtraction. Sometimes investing more money in the short term can lead to spending less in the long-term. Other times, outsourcing or sub-contracting work can reduce costs across multiple departments or processes.

Regardless of the cuts you propose, be prepared to explain your group’s decisions either in class or in the Budget Analysis Discussion Board.

Procedure:

Using your operational budget as a guide, conduct a budget analysis and determine three potential areas or aspects of your business that could receive cuts to reduce spending. These cuts may be broad (e.g., an overall staff reduction of X%) or targeted (e.g., switching from expensive oak to much cheaper pine for the production of skateboards).
You must identify three potential cuts that can be made. There are almost always multiple opportunities for budget cuts in any organization.
For inspiration, research recent spending cuts in your market sector. What are other companies cutting spending for? Why?
Using the information from your budget analysis, generate three separate budgets that account for these proposed cuts. Which saves the most money? Which makes the most sense for your business?
Gather all three budgets into a single document for submission.
Be prepared to explain and support your decisions in class or in the Budget Analysis Discussion Board.

>Business & Finance homework help

Share This Post

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

In Watch: What is a Ph.D.?,

In Watch: What is a Ph.D.?, read-Psychology and Christianity : Five Views by Eric L. Johnson, , David G. Myers, , Stanton L. Jones, , Robert C. Roberts, , P. J. Watson, , John H. Coe, , Todd W. Hall, , and David A. Powlison PUBLISHER InterVarsity Press DATE 2010-07-07

I need your help Microeconomic Paper Title By Your Name ECO100 – Principles of Economics Professor’s Name Date Microeconomic

I need your help Microeconomic Paper Title By Your Name ECO100 – Principles of Economics Professor’s Name Date Microeconomic Paper Title Industry Goods and Services (In this section you should select an industry and do research on that industry using Google and any other sources you like. [Remember, Wikipedia is not

Imagine that a hospital in the United States has recruited a billing specialist who reports to the manager of the billing department. The responsibility

Imagine that a hospital in the United States has recruited a billing specialist who reports to the manager of the billing department. The responsibility of the billing specialist is to ensure compliance with billing policies and procedures. The manager has begun an audit of the department’s adherence to policies and

Anya’s Bookstore Part A – Year 1 of Operations On 1st January 2015, Anya decided to set up a company, which would own and operate an antiquarian

Anya’s Bookstore Part A – Year 1 of Operations On 1st January 2015, Anya decided to set up a company, which would own and operate an antiquarian bookshop in Houston. She estimated that to put the business on a sound financial footing, she actually needed $40,000. Following are the

Module 4 Discussion Practices in other states Choose a state and review the

Module 4 Discussion Practices in other states Choose a state and review the scope of practice for the advanced practice nurse. How does it compare to Florida? Submission Instructions: · Your initial post should be at least 500 words, formatted and cited in current APA style with support

Calculate the magnitude of the resultant of all forces acting on the object

Analyze the specifics of the US healthcare system in terms of populations served, policy applied and funding available Implement quality measurement

Analyze the specifics of the US healthcare system in terms of populations served, policy applied and funding available Implement quality measurement and process improvement programs to improve health outcomes. Apply sound project management principles to support the design of organizational processes.

To prepare for this Assignment: Finalize your Parts 1, 2, and the Annotated Bibliography of your Major Assignment 1. Then Submit Parts 1, 2, and your

To prepare for this Assignment: Finalize your Parts 1, 2, and the Annotated Bibliography of your Major Assignment 1. Then Submit Parts 1, 2, and your Annotated Bibliography section of your Major Assignment 1.

Why the shift towards plant-based diets is a privilege of developed countries

category is nutrition topic is any sports i chose powerlifting

CASE 4 INSTRUCTIONS It is perhaps unsurprising in an era of individualization, privatization, marketization, and completion

CASE 4 INSTRUCTIONS It is perhaps unsurprising in an era of individualization, privatization, marketization, and completion (Berg et al. 2012), that in the human sector and in human service organizations, leadership is often assumed to be a set of activities or roles residing in individuals, echoing the image of the

Discuss in your opinion whether this is a good trend or a bad one? Have we taken control of our healthcare or lost control of it by “de-personalizing”

Discuss in your opinion whether this is a good trend or a bad one? Have we taken control of our healthcare or lost control of it by “de-personalizing” the trip to the doctor or the stay in the hospital? What, if any, has been your experience with becoming an “encounter”

Reflect on the strategies presented in the Resources for this Module in support of academic style, integrity, and scholarly ethics. Reflect on the

Reflect on the strategies presented in the Resources for this Module in support of academic style, integrity, and scholarly ethics. Reflect on the connection between academic and professional integrity

There are a number of “Spheres of Influence” discussed in your initial readings: the community; the workforce & workplace; the government; and

There are a number of “Spheres of Influence” discussed in your initial readings: the community; the workforce & workplace; the government; and associations & interest groups. In this discussion we will focus on Associations & Interest Groups. Choose a nursing association (Chicago Chapter of National Black Nursing Association) Discuss the mission and

Week 2 — Assignment 1: Evaluate Consumer Commitment in Healthcare This assignment has two parts. Part I: Reflect on what

Week 2 — Assignment 1: Evaluate Consumer Commitment in Healthcare This assignment has two parts. Part I: Reflect on what influences your personal choices when seeking healthcare services. Review the articles on relationship marketing by Kim & Kumar (2018); Kemp and Poole’s (2017) article on consumer commitment; and the article

Relearning: Clinical Judgment Plan of Care Template Student Name: Client Initials: Age/DOB: Allergies: BSA/BMI:

Relearning: Clinical Judgment Plan of Care Template Student Name: Client Initials: Age/DOB: Allergies: BSA/BMI: Code Status: Date of Admission: Date of Care: Admitting Diagnosis: Comorbidities: Planned Treatments/Procedures: Nursing and HCP Collaborative Plan for Care: Include a description of priority client specific information, nursing actions, and provider orders Cultural/Spiritual: Neurological/Cognition/Coping/Adaptation/Function: Nutrition/Elimination: