Making Invisible Work Visible by Andrew Parker, Rob Cross- Article Essay

Making Invisible Work Visible by Andrew Parker, Rob Cross- Article Analysis - Essay ExampleThe researchers strive to present the recommendations for the firms through and through which they can attain better have got work occurring in informal network of employees. The recommendations be based upon the research work conducted among a consortium peck 500 companies and government agencies. The researchers assessed collaboration and work in almost 40 information networks created within 23 different entities. The provided strategic and operational values are studies to find out their role in allowing the employees to collaborate and integrate their expertise with the organization. The article basically assesses and supports the information network and examines their significance for the organizations. The author counts that the informal genial networks allow the employees to deeply understand and reflect the working patterns of the organization in much better way than the employees working in formal structure. The informal additional networks however remain invisible and sometimes the managers fail to understand the problems developing within the firms. The authors also describe the background of the evaluation of the social networking techniques and inform that the estimation sociogram is credited to Dr. J.T. Moreno who has been regarded as the inventor of social networks. He paved the way towards new approach of social structure and presents the concept of role and position. The article also stresses upon the importance of informal social network in the context of management challenges in globalization era. The informal networks are influenced from the information design of the organization whereas physical proximity and nature of the work also determine the structure of informal social networks maintained by the organization. The researchers also identified three specific areas where they believe that social network analysis is uniquely effective. These areas include promoting effective collaboration within a strategically important group supporting critical junctures in networks that cross functional, hierarchical, or geographic boundaries and ensuring integration within groups following strategic restructuring initiatives (p28). The researchers found that social network analysis is a powerful and effective managerial tool that perform extensive array of functions for the organizations. The patterns of information sharing within and across the networks also became visible through the social network analysis (SNA). Moreover, SNA allows identifying and resolution the issues and problems being faced by the group of people within the organization. The specific behaviours of the employees could also be studies better and all this understanding allows taking the appropriate go for improvement of group efficiency and effectiveness. There is wide variety of benefits of social network analysis identified by the researchers. They explai n that information networks also support the employees job satisfaction and performance that ultimately benefit the overall productivity of the firms. It is very important for the management to understand the importance of social network because it the super competitive market place they cannot rely upon the traditional networks and require the support of information social network to foster the process of communication with the employees and to avail wide range of benefits of informal social networks. The authors conclude that the present era is marked with

Individual Business Report Essay Example | Topics and Well Written Essays - 1750 words

Individual Business Report - Essay ExampleOur Mission The complaint of Lancome priapic sputter c atomic number 18 is to offer and supply products and services that will improve the physical appearance of men while maintaining their masculinity, and this promotes appreciation of gender transformation and presentable male appearance in the society. Value proposition Lancome male skin care is in a very competitive market structure that requires great value propositions. In this case, it strives to ensure that the clients enjoy high-end skin care products with affordable harms with a satisfactory feedback. This will boost its client numbers and hyperbolize its market base. The Opportunities Lancome male skin care has a lot of advantages that gives it a competitive advantage over similar companies and this entails Differentiated skin care products that overhear the male client preference diversity A multi-choice of high-end products and service offer at a significantly cheaper p rice compared to the competitors hence attracting more clients Ability to get a line immediate demand of customers on products supply and service delivery Easily approachable services that are reliable and meets the desires of the clients. Target Market The typical consumers of Lancome male skin care include Urban male dwellers most of whom are average earners or are elite socioeconomic groups Clients with middle class one-year income estimated at more than $ 50,000/year Most of the customers love their body appearance and skin texture Most of the clients show interest in fashionable so that they can gain confidence, feel relaxed, attractive and maintain masculinity. Most of the customers targeted are male life-longing men in the age bracket ranging from 15-35 years age group. These individuals are still at the heights of seeking appearance Clients needs that the firm seeks to meet include Provisional of services that will make the clients show their predisposition to fas hion and their personalities at home Provision of products that will be consistent with the fashion and standard quality as per the clients taste learn that the prices of the services and products are affordable Offer more services under same product package at a fairly cheap price as this will substantially save the consumers their money. The Marketing Mix The concept of marketing in this case is vital for the survival of Lancome male skin care. The stolon approach is to analyze the feature of the products so that potential customers and the existing ones can be made aware of the wide variety on offer. These features include racy quality premium/materials that are modern and fashionable to the customers Variety of product combinations and selections to the clients Ultramodern and safety guaranteed skin care products with immediate results Service features This is Lancome male skin care policy recommendation that emphasizing on expansion of the existing services and optimiz ing satisfaction of the desires of the customers. These include Customized products pre-order so that each client attains his desirable features in a product met Help various clients in other facial lifting products and safety precautions Offer online transaction and shopping by the clients.

Introduction to Engineering - Truss Bridge Design Essay

ledger entry to Engineering - Truss Bridge Design - Essay ExampleIntroduction to Engineering - Truss Bridge DesignThis model successfully worked to hold desired load and effectively fulfilled the load resistance qualities that a practical(a) bridge must have. Keywords Truss bridge, bridge competition, bridge model, bridge stability. Introduction Bridge design is the fundamental part of civil engineering and most exact as well. It is designed for transportation of heavy traffic meanwhile, it is constructed to cope with environmental effects like storms. There are many types of bridges that are being used around the world, among them most common are arch bridges, girder bridges, adhere bridges, cantilever bridges, cable stayed bridges, moveable bridges and suspension bridges(SWE, 2012). The type of bridge that we corporate in our design is the truss bridge. These are the oldest and the most economical bridges found around the world with excellent cargo bearing capacity(BuildingB ig, 2010). Atypical truss bridge is shown below Specialty of truss bridges is the triangular elements present in the structure to share the load applied on the bridge by the traffic(JHU). In a typical truss bridge design the swimming members are responsible for bearing loads as a result of horizontal as well as dynamic compression.In our bridge design we made use of Popsicle sticks to create truss members as well as the base of the bridge. These sticks were joined together by reservation use of glue. Where required, the sticks were cut to the required lengths for making triangle structures of the bridge. For providing strength to the design, the sticks were stacked over each other in 3 to 4 layers and the whole structure was made which is shown below Before finalizing the above bridge design, we tested a number of bridge structures in the lead as well by making use of west point bridge design, but all those designs failed while testing. By making use of strategical techniques t o design practical bridges based on load distribution errors were reduced and thickness of trusses and other members was increased. This gave stability to the bridge design. After that we started working in the structure of the bridge. For that purpose the first task was to select the appropriate material for constructing truss bridge which goes well with our dimensional requirements. Therefore, popsicle sticks were chosen as a preferred material. After that all the sticks were marked at the point of applying glue. Initial step was to design the the bottom frame of the structure in which three layers of sticks were used. here(predicate) is the view of one bottom structure. Total two rails were made for the bridge. After structuring the bottom next step was to structure the rectangular truss dowry of the bridge. For that purpose first two steps of bottom design were used to collect popsicle sticks and gluing them together. After that, triangular portions were structured and joined together. These trusses were then committed to the bottom rails as shown below Last step was to connect the assembly of both the trusses and bottom rails to each other by making use of popsicle sticks and gluing them to the bottom. In this way the final structure was drawn. Results and Discussion In the design of first bridge, total 145 popsicle sticks were used and the resulting weight of the bridge was calculated to be approximately 198.3lbs. The designed bridge

Asian American Women in Sports Essay Example for Free

Asian American Women in Sports EssayAsian American women in professional sports has always been a struggle in the media. Asian American males has somewhat make a slight appearance of success in sports media but non so much for women. There atomic number 18 some famous Asian athletes out there such as Yao Ming, Jeremy Lin, and Michael Chang who withstand made a name for themselves. It seems that it is hard already for Asian Americans to strive in professional sports, but it is even harder for Asian American women to strive because they are precisely women. The media has pictured mens sports to be more interesting to watch and has created most of the attention towards them. Few people are interest in watching women sports which makes it harder for Asian American women to be not methamphetamined in sports. Asian American women are also brought up with the oral sexset that they have a slim chance in qualification it in professional sports because of how the media portrays them which is why there are so little of them that wants to strive in sports.Before writing this essay, I searched online for articles, statistics, and facts about this topic. I recognise that there were very limited information out there regarding this issue. I also got the idea that not exactly are Asian American fair sex not being in professional sports is a problem, but the bigger problem is that people just dont care about this issue. I noticed that Wikipedia has merely 82 pages of 82 different API women who has competed in professional sports. This is not a staggering number for 82 women in all of US history is only a drop in the ocean. I figured out that the majority of these sports are not contact sports such as golf, tennis, skating, and gymnastics.I believe that if anyone puts their mind to something, they can achieve whatever they want. I feel like Asian American women just limit their minds to what sports they will play and are capable of playing. Its not that they arent physically capable to play the game, but they are mentally incapable. In the 2008 Olympics, China womens basketball team placed 4th overall. which is one shy from a medal as well as beating 7 other non Asian countries. So physically, Asian woman can compete in sports. Americans have just created the stereotype that Asian women have smaller builds that make them disadvantages in the more physical sports. This is why Asian American women automatically choose to tension on non physical but finesse sports.Needless to say, there are really some very successful API women athletes that has made an appearance in the media. The was actually one Asian women from China who made it into the WNBA. She was the prototypical and Before Yao Ming, or before any Asian that have appeared in professional basketball, there was Zheng Haixia. She was the first Chinese player to ever play pro basketball stateside. The only reason she was as popular as Yao Ming, or Jeremy Lin was simply because Haixia is a woman. The 6-8, 250lb reduce from China is arguably the undisputed best woman player to come out of China. Due to her tremendous size, Haixia was always slow of foot, but the great correspondence was her all around efficiency around the basket. Zheng always got her points with slow and steady efficiency as she was named the MVP of the 1994 Womens public Championships. She averaged 26.4 points, 13.1 rebounds on an astounding 83.5% from the field.In 1997, during the startup WNBA season, Zheng led the league in field goal% with 61.8% as Isabelle Fijalkowski was a distant second with 50.8%. During that same season, she scored a season-high, spark-high of 28 points on June 27 against capital of California and also had 10 rebounds and 3 blocks. She set a Sparks individual scoring record later tied by Lisa Leslie in the same season and since surpassed some(prenominal) times over. She is probably one of the most successful and talented API women who ever played in a contact sport. A nother very well know athlete is Kristi Yamaguchi who skated her way to a gold medal at the 1992 Olympic Games in Albertville. She also went on to be one of the most beloved ice skaters in America despite being an Asian American women. Yamaguchi was born with a foot condition and started skating to strengthen her feet and ankles.She followed with individual victories at the 1991 and 1992 World Figure Skating Championships and the 1992 U.S. Nationals. Winning the 1992 Olympic gold-medal performance made her the first Asian American woman to win a gold medal in any sport. The thing about the skating world is that someone can win in a competition but still may not have as many endorsement because they are Asian. This just shows that no matter how talented you are, people are still going to judge their favorites found on what they are used to seeing and what kind of people they like. This puts API women in a bad spot because Most people in America are accustomed to only seeing Caucasia ns or African Americans as their surrounding athletes. This is a big reason why Asian American women are portrayed as a disadvantage in professional sports.

The Fair Value change with respect to the Financial Crisis Essay Example for Free

The decorous Value change with respect to the fiscal Crisis EssayThe world has add together under the grips of a global pecuniary crisis. such events with big accounting and fiscal impacts are few and forlorn but when they do come, they tot with them uncertainty and pessimism as hale as the desire to bring about some change so as to curtail such events from taking place in the future.With regards to standard pose, this is be achieved through the debate contact fair appraise reporting. Banks and many other troubled financial institutions that bore the brunt of the tidal wave of the credit crunch are calling on the Financial Accounting Standards Board to ease their stance in relation to fair value accounting whereas investors and financial analysts are standing forward to block this move. Fair value accounting had been brought into place after much deliberation by standard setters over the years. Its application worldwide was a reflection of the need for financial statem ents to reflect the assets held by firm on their balance sheets at prices they could be realized at today in the markets, in a fair like and an arms length transaction.This was recognized as something that provided a fair outlook of the current financial position of banks and other institutions and was held very closely keep an eye on by the FASB (Katz 2009). The chairman of the panels adherence to the need for fair value to continue and his defense of the methodology in a testimony in the lead the US House of Representatives Financial Services Subcommittee in March of 2009 is a strong indicator of where standard setters actually fall in the debate.However, in April of 2009 the board voted to relax the fair value rules under strong political pressure and in an uncharacteristically rapid fashion for a body that is known to charter in long debates and continued discussion before enacting any changes in the accounting standards.This change has sparked unique responses from the two sides of the debate. Banks and other financial institutions have been blessed with the measure. They had come out in open opposition to fair value rules following the financial crisis stating that it unfairly influenced their accounts. They argued that the use of the fair value criteria resulted in them order of battle items in their balance sheet as signifi discounttly lower value than they would be actually realized at, thereby giving them a relatively cutting financial outlook with very pessimistic figures (Katz 2009).The impetus for the move was that if this could be alleviated to some extent, then banks would be better able to report their professedly financial situation and reduce some of the write-offs that have wrecked the industry, thereby even putting them in a better position to issue much loans and perhaps precipitate faster recovery from the crisis. The optimism of the banks with regards to the proposed shift by the FASB was reflected in the markets as the stocks of major banks such as Citibank and Bank of America went up in the New York Stock Exchange.Investors and financial analysts however have been strongly against the move being put forward by the FASB in April. They argue that fair value accounting results in showing the actual financial health of the financial institution and changing the rules would result in a distorted perspective being put forward to the investors. It is further seen as being a highly transparent view of the financial health as it leads to assets being valued at the amount they could be traded today which is a reflection of the economic times as well as the trend of decision making that has been going on in the industry.Thus after the changes have been brought into place, investor group are showing growing unhappiness at what is viewed as something potentially harmful. They were in addition wary of the betrothal of political pressure in the move, which if freely allowed to influence international standard setti ng would compromise the integrity of the field and harm investor confidence as well.The FASB did come out in support of the investor though by additionally requiring more disclosure of the methodology employed by firm for valuation after the FASB allowed them signifi rottertly more room for judgment regarding it through relaxation of the rules. It further did not allow the financial institutions to apply the changes retrospectively which would have altered their 2008 statements as well. It also restricted the application of some proposed changes such as those relating to valuing impaired securities by keeping it only for debt securities.FASBs shift has been in a manner that can be considered characteristically different from its formal procedure. The world of standard setting has been slow with prolonged discussions before any changes are brought forward. With regards to the current change, it was made well rapidly by bringing in remarks for discussion, pursuing a review of one day and then handing out the proposed changes which is a testament to the tricky financial times and political pressure.The shift that was brought about included allowing the firms considerable room for judgment with regards to gauging prices of some of their investments represented on the financial statement as well as those for mortgage backed securities (Katz 2009). This did meet with opposition from other bodies such as the CFA Institute and investors groups, the former arguing that such arbitrary changes damage their believability while the latter is in woe of the difficulties investors will face now.They have even gone out to condemn to some extent the U-turn taken by the chairman of the FASB whereby he shunned the changes proposed to fair value methodology in front of congressional subcommittee but then agreed to put in place the analogous measures hardly a month later.Thus it can be seen that the current financial crisis has altered the direction standard setting in accounting has taken. It can be said that this is a fairly damaging trend. While it may result in short term gains for fighting the financial crisis and help put down up loans and lending, it could be damaging in the long run as political pressures and advocacy groups may damage the credibility and transparency of standard setting and financial statements presentation. It could also be adverse for the investor who may not trust the standards as providing fair information and affect their behavior. Furthermore, the integrity of the institute may well have been compromised in this case by the u-turns being adopted by the chairman of the FASB.BibliographyKatz, Ian (2009, April 2). FASB Eases Fair-Value Rules Amid Lawmaker Pressure. Retrieved June 17, 2009, from Bloomberg Web site http//www.bloomberg.com

Dbq on the Medical Field During the 18th Century Essay Example for Free

Dbq on the Medical Field During the 18th Century EssayThe medical field during the eighteenth century was comprised of unsanitary, heinous, and uncustomary practices, such(prenominal) as blood letting, trepanation, and the overcrowding of hospitals. Even though these practices didnt help in the development of the medical field, there were auspicious practices that were beneficial, such as tocology, ingrafting, and faith in God. Midwifery, during the 1700s, was matchless of the most womanized practices of the century.To get the help of a male midwife was a belittlement to the female midwife and it was also a way of disparaging midwifery (Document 2). Also, midwives were expected to obtain the knowledge of caring for and to the skills for the well-being of women in labor(Document 2). While the conditions of a woman giving birth improved dramatically, so did the reputation of midwifery. Ingrafting was one of the most cogent inventions in medicine in the eighteenth century. Diseas es as contagious and fatal as the smallpox were almost eliminated with the invention of ingrafting (Document 3).This procedure was so advantageous that Lady Montagu, an English writer, was well satisfied of the safety of the experiment, that she intended to try it on her own son (Document 3). Ingrafting has also evolved into vaccines that now can recuperate and treat malignant ailments like the flu and cowpox. Faith in God was a way for people to have mental support for their ailments, even though it didnt cure or treat any ailment, people still turned to God for aspiration. Many people still believe in the place of prayer and in the power of faith to relieve them of illnesses.This is best stated by William Buchan, an Edinburgh physician, because his statement that the Christian religion teach that, the sufferings of this life are designed to prepare us for a future state of happiness. (Document 7) Medical practices, such as midwifery, ingrafting, and faith in God, of the eighteen th century not only advance to the benefit of the overall health of the people, but also led to the more advanced practices used today. Although these practices were basic, they are the vital parts of the development of medicine.

Traditional Budgeting in Modern Business

Traditional Budgeting in Modern BusinessThe essay below is an attempt to probe the issue of Traditional computeing and discusses the fact that how right away-a-days formal, handed-down ciphering does not prove quite apt for red-brick creasees. To begin with, the essay will give a shortened explanation of what is a budget and what is budgeting. This will be followed by a short note on modern budgeting and there will be a concise induction on handed-down budgeting. Furtherto a greater extent, the essay will throw light on the strengths and weaknesses of traditional budgeting following which it will explain and evaluate the alternatives to traditional budgeting in modern pipelinees.A budget is a strain plan for the short term-typically one course of study(Atrill McLaney,2007) . It is mainly expressed in financial terms and it is knowing to meet strategic purposes. Budgeting plays a vital role in condescension success as it helps in the organizations operational planning, motion evaluation, communication of goals, strategy formation, and arbitrary cost which helps the organization to achieve its overall objective. But it seems it is unsuitable for the modern business.The term modern business stands for a business which operates in a ball-shaped economy and practises all modern techniques to survive in a highly private-enterprise(a) environment. In todays era of information technology, it is impossible for a business to fence worldwidely without continuous psychiatric hospital, updated information and controlled natural process.In management accounting, budgeting is quite a vast and authorized concept.There ar different kinds of budgeting. The essay will now focus on Traditional budgeting and its working in modern businesses.What is traditional budgeting?Budget is a part of strategic planning process. It lays down business objectives, targets and decides activities require to achieve these objectives. Traditional budgeting is ground on previ ous year data, decisions, uncertain estimates and forecast (Drury,2009).Traditional budgeting is basically one year planning which lays down targets for the business and at the end of the year these targets are compared with actual results and deviations, if any, are reported to the budgeting team which uses them as an important mention of information for current year budgeting. Traditional budgeting creates boundaries for the business operations and sets targets for its employees, which motivates employees to work hard and earn rewards for their achievement.Importance of Traditional BudgetingKennedy and Dugdale (1999) in his study on budgeting found out that 99% of all companies in europium still using formal budgeting system. Budgeting provides a direction which can be used as a framework for planning and cont paradiddle the overall action mechanism of the business. Budgeting is often used as an important tool for controlling cost and expenditure of the business, which is very (prenominal) essential for an organization to survive in a competitory world. It is also used as a tool to maintain liquidity localization of the firm by matching business revenue against expenditure, which gives an actual position and requirement of cash at a definite metre period. Kennedy and Dugdale (2009) in his study also points out that it is the multiple function of budgeting which makes it an important tool for management. Budgeting provides a system of authorization, a means of forecasting and planning, it also provides a channel of communication and coordination through which the actions of different parts of an organization can be brought together and reconciled into a common plan. Kennedys study also states that budgeting serves as a tool of motivation, a system of evaluation and control, which acts as a serviceable source of information for decision- making.Limitations of Traditional budgetingBudgeting is always being criticized for its high cost and the longer ag e it takes for its preparation. These two limitations are always a point of consideration for modern business organizations, which require a long working of financial managers and which incurs heavy charges on the accompany. In addition to this, budgeting is criticized in many other aspects as well. Dugdale and Lyne (2006) in his study on budgeting points out that budgeting being an important tool for an organization has many limitations like, it meets just the lowest targets, it uses more resources than required, it competes against other divisions, business units and departments, also it spends only what is in the budget, provides inaccurate forecasts, has motives only to meet the budget but not to beat it and finally it also avoids risk element. Bourne et al. (2002) conducted a survey on limitations of traditional budgeting in which he criticizes traditional budgeting on a number of issues. From the survey result, he pointed out the following criticisms against budgeting its time consuming, costly, restricts flexibility in operation, its very often focused on target and often misaligned with strategy, it focuses more on cost rather than value creation, it often encourages gaming between superiors and subordinates, it is hardly updated and is based on unrealistic assumptions and guesswork which make it unsuitable for modern business.Traditional budgeting and modern businessBudgets take hold long had a bad press, but they have attracted even more flak recently for being at best in set aside to modern business practice and at worst potentially calumnious (Marginson and Ogden,2005). Hope (2000), in his study on traditional budgeting, points out four important reasons of incapability of traditional budgeting in modern business. he pointed out that in modern business, innovation is more essential rather than incremental, focuses more on faster learning rather than faster working, customer focus is on mathematical product satisfaction rather than increasing sale and knowledge- sharing and use of talent given more importance, rather than physical or financial capital. Modern business requires innovation along with cost saving in order to be competitive enough to fight with its rival company.Marginson and Ogden (2005) in his study on budgeting and innovation argues how firms are balancing the need to control costs on the one hand with the pursuit of innovation on the other. That is, modern business is an era of global business and competition which requires continuous innovation and huge spending on R D for its survival. And if modern business follows the budgeting tool it will restrict the business from spending a huge fall on innovation and this becomes a major criticism of budgeting. Hopes Fraser, 1999a, cited in Ekholm and Wallin (2000) added that traditional budgeting is incapable of meeting the demand of the competitive environment in the information age. This means, traditional budgeting is a useful accounting model with its f ocus on command and control but it lacks in providing useful updated information like market changes, change in taste and preference, change in technology, etc. which makes traditional budgeting unsuitable for modern business. Traditional budgeting is a time consuming process and therefore fails in reflecting changes fails in the companys organization process. As a result it produces inadequate variance reports leaving the how and when question unanswered. That is, it ignores shareholders value and focuses more on short term financial numbers. It follows a risk avoiding culture and therefore faces a false sense of security as a yearly, unbendable process and as being a toy of the accounting department.( Hopes Fraser, 1999a, cited in Ekholm and Wallin, 2000). Ekholm and wallin (2000) in his study about budget found out that traditional budget seems to be a burden, and therefore must be removed from financial reports, before improving financial performance.Dugdale and Lyne (2006) sa y that if companies want to meet the modern business challenges then they must dismantle their rigid command and control structure, which means scrapping their budget and should adopt a policy of radical decentralization and implement appropriate key performance indicators, scorecards and rolling forecast.Alternatives to budgetingTraditional budgeting is described as a Bane of Corporate America and a tool of repression, by modern businesses which human face for alternatives. wheeling forecasts produced on a monthly or quarterly basis, are suggested to be the main alternative to the annual budget (Arterion 1998, Hope and Fraser 1990-20 cited in Ekholm and Wallin, 2000). Limitations of traditional budgeting give rise to many beyond budgeting techniques. Fanning (2000), in his article titled evolution or Revolution, explained beyond budgeting as a technique that restrict gaming, focuses on other business performance in addition to financial performance and uses insightful forecasts t hat accurately omen companys performance for a shorter period of time like, rolling forecast. In addition there are some better budgeting techniques like, zero based budgeting, activity based budgeting, process based budgeting and performance based budgeting. Rolling forecast serves as a best alternative to traditional budgeting, as verbalise earlier. In this the budget is prepared for a short period of time which ranges from a month to a year. The main advantage of this method is that it encourages the manager of a company to look ahead and review their plans on a unbroken basis.Zero based budgeting is also emerged as a good alternative to incremental budgets. Unlike traditional budgeting zero based budgeting justifies and prioritizes all the activities before allocating amount of resources to them. In addition it focuses on activities instead of functional department which is a feature of traditional budgeting (Drury, 2008).Activity based budgeting authorize the supply of only those resources that are needed to perform activities required to meet the budget production and sales volume. This overcome traditional budgeting limitation which works on incremental basis to predict year expenses on the basis of last year expenses.Traditional budget systems focus on expenditures.Performance Based Budgeting focuses on final result by fastness desired performances goal to each department. The purpose of Performance-Based Budgeting is to provide a sound basis, upon which resource allocation decisions can be done to communicate the measurable results expected to be achieved from a budget allocation and to build a connection between budget and program performance results for the same operational unit over same period of measurement.Importance of budgeting in modern businessDugdale and Hanseen ( two writers ) from their study on find out that in budgeting operational planning, performance evaluation, communication of goals and strategy formation are the important fun ctions which help it in being alive in modern business. Ekholm and Wallin (2000) from a questionnaire survey on budgeting stated that traditional budgeting is needed in modern business as it is an important tool for maintaining internal effectiveness which is needed to maintain long term vestibular sense position of the company. He also finds out that modern business still requires traditional budgeting because its targets cant be set for the people. This means that, no control and no performance evaluation can be done. Hanseen and Van der Stede (2004) from his study on Multiple facets of budgeting finds out that there are different reasons to budgeting like market cerebrate performance (sales growth, market share) and internal operation related performance (cost effectiveness, quality), which seems to be important reason for its wide use in modern business as it will help company to achieve competitive advantage over its rival. Dugdale and Lyne (2006) as a conclusion of case stud y point out that budget is an important tool to set resources limit for function such as service and RD, which will help business to make efficient use of their limit resources that will lead to success for a company in this competitive world.ConclusionAfter a detailed study about budgeting it can be concluded here that, budgeting is an important tool for any business organization which helps the organization in operational planning, performance evaluation, communication of goal, strategy formulation and fixing targets which serve as a basis for organizational working and control. Inspite of its importance in organization, its become a matter of great concern to change or abandon traditional budgeting from modern business. It is because of some budgeting limitations which make it somehow rigid to be used in flexible and compatible modern business. It can be seen that traditional budgeting lacks in providing updated information, flexible operations, restricts huge expenditure on inn ovation and in addition to this, it is time consuming and a costly method, which binds a company to a 12 month agreement with budgeting expenditure and income list which restrict flexibility of modern business. On the other hand, budgeting helps modern businesses in setting their targets for the year and cost controlling measures which play a vital role in the competitive market.So, seeing budgeting limitations and benefits to modern business, many economists and business managers suggest that traditional budgeting is an important tool which cannot be fully removed from an organization but some changes or beyond budgeting techniques like rolling forecast budgeting, zero based budgeting, activity based budgeting, process based budgeting and performance based budgeting, help in solving business organization problem.RefrencesAtrill, P and McLaney, E.(2008). Accounting And Finance For Non- Specialists. England FT assimilator Hall.Bourne M, Neely A and Heyns H (2002) Lore Reform, Financ ial Management,January,p.23.Drury, C. (2009). Management Accounting For Business.UK South- Western.Dugdale, D. and Lyne, s.(2006)Are budgets still needed?, Financial Management, November,pp 32-35.Ekholm B and Wallin J(2000), Is the annual budget really knackered? The European Accounting Review,volume 9,number 4,pages 519-539.Fanning J (2000) Evolution or Revolution?,Accountancy, October.Hansen, S.C. and Van der Stede, W.A. (2004), Multiple facets of budgeting an exploratory analysis, Management Accounting Research vol. 15, pp 415-439.Hope T (2000), deviation Resolution, Accountancy, November.Kennedy A and Dugdale D (1999), Getting the most from budgeting, Management Accounting, February.Maginson, D. and Orden, S. (2005)Budgeting and Innovation, Financial Management, April, pp 29-31.