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Currently, budgeting and financial statuses in the Samuels Waters College are a hindrance to the developments of the organization. Budgeting involves handling the funds within the organization most of which comes from the students’ tuition fees and others from the investors in the organization. Financial statuses involve the payments made to the respective stakeholders concerned and working together with them as a team to share opinions in order to increase the affected business. The statuses in the organization hold the largest part in the organization development since without proper funding and budgeting system no benefit can be realized in the organization. The poor budgeting makes the situation in the organization very harsh such that it is not able to cater for all its financial processes such as paying the staff (Yin, 2003).
The problem in the case study is as a result of poor budgeting due to lack of a strategized budget plan to handle and cover the situation in the organization. The concern of the case study aims at coming up with the proper and strategized budgeting plan to make the realization of goals in this organization easy. It is in the plan of creating a new budgeting layout to improve the institution in its processes. The college, therefore, fails to improve the goal’s set and target plan. The president of the college initializes a budgeting retreat to improve the situation in the organization by inviting representatives of the stakeholders and involve them in the decision-making process. Involving the members of the organization sets it to the development since the views collected favors each and every member of the organization after the implementation. The teams need proper information sharing, and this reduces the chances of development of the organization, (Yin, 2003)
Concerns of the case study
The first solution involves emphasizing and improving collaboration in the business. Since no man is an island in any institution, having a team to support the proceedings and plan for the company. There is a need to make each member feel valued and encouraging them also. Before any collaboration carries a set job, the benefits should be outlined. The team should also have an objective before starting the process. All the team members should feel important by taking each and every ones’ opin.............
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