Creating a Budget for a Struggling Company Essay

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Administering budget in a company can be especially difficult, as one would have to focus on each department in the institution and the degree to which it needs to be provided with finances. The company I work in functions in accordance with the 12-month budget cycle, with directors having to address the way that the budget is organized at the beginning of every year.

Having a high employee turnover rate for the last year means that spending on employees needs to be increased, taking into account that many former employees are believed to have left as a consequence of not being encouraged to identify their goals with the company's. Managers from all departments have emphasized the need for small and yet significant methods of supporting employees. The yearly amount to be spent during departmental nights out is thus going to be increased from $50 per year per person to $100 per year per person.

The marketing department has grown visibly during the last year, as it now has thirty full time employees and eight interns. This has led to the department being overcrowded and to other departments feeling that they are less influential as a result of losing support in monthly management meetings (as a consequence of their managers seeming less powerful because they have smaller teams to care for). The fact that the number of interns is much larger in this case also means that the department's information is much more exposed due to newcomers having a limited understanding of the system and to full-time employees being unable to effectively pass on knowledge to all eight interns.

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One of the main tasks of the budgeting process is thus going to involve reducing the number of interns working in the marketing department.

The sales department is one of the most important in the company due to the fact that they are normally the main link between the institution and customers. In recent months we had several problems as a result of phone lines dropping and customers thus having problems reaching sales representatives. While security systems meant to prevent this from happening have been successful in the past, it seems that they have become outdated and that it would be essential for us to invest in more secure lines and in processes that make it less likely for phone lines to drop.

When considering things from a realistic point-of-view, it would be safe to say that it would be impossible for the company to make everyone an expert in their field of work. However, the firm can concentrate….....

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