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Budgets & Financial Reports: Understanding Budgets
Budgets are critical for businesses. Many stakeholders within the organization require that budgets be submitted for review every year. The budget sets spending limits and usually is broken down to the individual departments or business units. Typically, budget numbers are reviewed every month to determine how well the company is keeping within the budget.
In order to begin a budget, you will need the following three pieces of information:
- Goal: Identifying a goal is the first step to creating a budget. Think about what you need to accomplish. This could be a sales goal, an efficiency goal or quality goal. No matter what the goal is, it is important to think carefully about the feasibility of the goal. Use the SMART technique for goal setting, which is making the goal Specific, Measurable, Attainable, Realistic, and Time driven.
- Money: How much money do you have? In the corporate environment, you may need to review the financial reports to determine how well the company is doing. When things are financially tight, the monies allocated to the budgets may be limited. Knowing how much is available will help you determine what you should request in terms of the business environment.
- Costs: You will need to determine how much are the costs related to your goals. This may require you to breakdown your goals in to smaller components so you can put a price on each of them. Knowing how much things will cost will help weed out unnecessary expenses in your budget.
These three items will point you in the right direction when you are ready to begin your budget.
For more information on our Budgets and Financial Reports course, please visit:
https://corporatetrainingmaterials.com/course/Budgets_And_Financial_Reports
Employee Motivation: Identifying Your Personality Type
You probably have an idea of your own personality type. A personality type is defined by the aspects of your character that emerge when around others or when doing important work. These character aspects are, as often as not, described as “soft skills”. You may have been described as “maternal”, “skeptical”, “humorous”, or any number of other things. These are issues which do not relate directly to your work but can aid or restrict your ability to do it, and can aid or restrict others. It is considered beneficial to have as many different types of personality in a workplace as possible.
There are countless tests that can be done to detect a personality type, and many different ways the results can be expressed, but there are certain things which hold true in all personality tests. Perhaps the best way in the workplace to detect a personality type is to judge your reaction to a problem which affects a whole team, or a group within it. Are you immediately looking for a way of overcoming the problem? Are you instinctively worried by what happens, and do you look to other people to help out? Do you comfort people who are stressed out by the problem? Or do you perhaps sit on the fringes, making comments and playing for laughs? Strange as it may sound, all of these elements are worthwhile in a team. The person who immediately looks for the solution is a “problem solver”; the second type is a “consensus seeker”. The third is considered a “nurturer” while the last listed is a “humorist”. All of these are classic personality types.
Equally, all of these people, and others, play a major part in making up a workplace.
- Without the problem solvers, an organization would be in trouble if things deviated from the plan as laid out.
- Without consensus seekers, it would be easy for a problem solver to become too autonomous, solving the problem to their satisfaction without being particularly concerned for how others felt about the solution.
- Without the nurturers, people would feel that a problem could too easily become a crisis.
- Without the humorists a bad situation would depress everyone.
Reason and etiquette dictate how much we allow our personality to take control of us, but most people will avoid becoming too “cliché” in how they behave.
https://corporatetrainingmaterials.com/course/Employee_Motivation
Train-the-Trainer: Flexible Training
There are a several different ways that you can build some flexible time into your training. Having participants help to design the training (perhaps by selecting which objectives you will cover in the training), is one great way to do this.
Secondly, keep in mind that training is all about your participants. As trainers, sometimes we are so excited about the potential for growth that we cram way too much into the lesson design. Keep your materials content rich so that you have excellent training, but don’t feel that you have to incorporate everything that you know just because you can. Meet your objectives, be participant-centered, and design your lessons well.
The best way to build in some flexible time is to deliberately create a couple of spaces in your day that are light so that if you do need to incorporate something extra, or people get engaged in a particular learning opportunity, you won’t have to race to get through the rest of your material. This means that you have a couple of topics that are optional that will add to the training if you can include them, but can be left out if needed.
https://corporatetrainingmaterials.com/course/Train-The-Trainer
D5 Creation