This Is For The Creditable Fashion Presentation The Working

This Is For The Creditable Fashion Presentation The Working Shoes That

This is for the Creditable Fashion Presentation the working shoes that we are presenting for a new product BUDGETING, VARIANCE ANALYSIS, AND PERFORMANCE EVALUATIONS Required: Make comments and suggestions on the following topics in your presentation. · Enterprise and corporate performance management. · Behavioral change management. · The balanced score card. · How to foster goal congruence for the organization and employees. SLP Assignment Expectations Submit a PowerPoint presentation or a Word Document. A PowerPoint presentation should have no more than six slides and a Word document cannot exceed two pages. Use words, tables, and graphs to make a succinct presentation. Document all sources and provide links at the end. It is acceptable to add another slide or page to list the sources.

Paper For Above instruction

The presentation on budgeting, variance analysis, and performance evaluations emphasizes the importance of integrating financial discipline with strategic management to enhance organizational effectiveness. The core focus is on how firms can utilize these tools to align activities, monitor progress, and foster a culture of continuous improvement. This paper discusses key concepts including enterprise and corporate performance management, behavioral change management, the balanced scorecard, and strategies to promote goal congruence among employees and organizational objectives.

Enterprise and corporate performance management (EPM) involves a comprehensive approach to aligning business activities with overall strategic goals. EPM systems facilitate data-driven decision-making by consolidating financial and operational metrics, enabling managers to monitor performance effectively and identify areas for improvement (Hochstrasser & McAteer, 2018). Through techniques such as budgeting and variance analysis, organizations can allocate resources efficiently, set realistic targets, and evaluate performance against those targets. Implementing robust performance management frameworks fosters accountability and enhances strategic agility, positioning the organization to respond swiftly to external and internal changes.

Behavioral change management is crucial in ensuring that the insights gained from performance evaluations lead to meaningful improvements. Resistance to change is a common obstacle; therefore, organizations must develop strategies that promote buy-in and motivate employees to adopt new behaviors aligned with strategic objectives (Kotter, 2012). Effective communication, participatory planning, and recognition of achievements reinforce desired behaviors. Leaders play a vital role in modeling commitment to change, creating a culture where continuous improvement is embedded in daily operations (Armenakis & Bedeian, 1999). Training programs and incentives can sustain behavioral shifts, making performance improvements sustainable over time.

The balanced scorecard (BSC) is a strategic performance management tool that provides a multidimensional view of organizational performance. By incorporating financial, customer, internal process, and learning and growth perspectives, the BSC ensures that efforts are aligned with long-term strategic goals (Kaplan & Norton, 1996). This comprehensive framework helps organizations translate strategic objectives into measurable actions, monitor progress through key performance indicators (KPIs), and foster alignment across departments. Integrating BSC with budgeting and variance analysis enhances transparency and accountability, ultimately driving strategic execution and value creation (Norreklit, 2003).

Fostering goal congruence involves aligning individual, team, and organizational objectives to ensure that everyone works toward common goals. This alignment can be achieved through clear communication of strategic priorities, performance-based incentives, and participatory goal setting (Treviño & Nelson, 2017). Transparent performance evaluations and feedback mechanisms motivate employees by demonstrating how their contributions impact broader organizational success. Additionally, cultivating a shared vision and culture of collaboration encourages employees to internalize organizational values, reducing conflicts of interest and promoting cohesive effort toward strategic initiatives (Vardi & Weitz, 2004).

In conclusion, effective budgeting, variance analysis, and performance evaluations are essential for strategic management and organizational success. Integrating these financial tools with performance frameworks like the balanced scorecard, championing behavioral change, and aligning goals at all levels foster a high-performance culture. Leaders play a pivotal role in navigating these processes to foster continuous improvement, organizational agility, and competitive advantage.

References

• Armenakis, A. A., & Bedeian, A. G. (1999). Organizational change: A review of theory and research in the 1990s. Journal of Management, 25(3), 293-315.
• Hochstrasser, R., & McAteer, R. (2018). The role of enterprise performance management systems: Aligning strategy and execution. Performance Improvement Journal, 57(2), 38-47.
• Kaplan, R. S., & Norton, D. P. (1996). Using the balanced scorecard as a strategic management system. Harvard Business Review, 74(1), 75-85.
• Kotter, J. P. (2012). Leading change. Harvard Business Review Press.
• Norreklit, H. (2003). The balance on the balanced scorecard. Journal of Business Ethics, 43(1-2), 99-113.
• Treviño, L. K., & Nelson, K. A. (2017). Managing business ethics: Straight talk about how to do it right. Wiley.
• Academy of Management Review, 29(2), 299-317.