4192 discussion dr rocal

Read the chapter 15 case study (p. 274) and resolution (p. 297). In this story, who can you best relate to: Jean or Hector? Provide some background as to what has made you naturally attracted to finances/budgets or disengaged from them. Using at minimum 2 concepts from chapter 15, discuss what how you will use these concepts to further your development and growth in the financial arena. Your post should be a minimum of 2 paragraphs long, and each paragraph should have a minimum of 4 sentences. However, there can be more sentences and paragraphs if you desire.

 CASE STUDY

Jean stopped to say hello to her colleague Hector. Instead of his usual smile, she was greeted by a frown. Hector was obviously frustrated. “Hey, what gives? Why the frown?” Jean asked. Hector replied, “It’s budget time. I’d rather have a toothache. I am having the budgetary equivalent of writer’s cramp. Do you have any advice?” What advice do you think Jean might offer? What advice would you offer? 

CASE STUDY RESOLUTION

Returning to Hector and Jean, Jean offered the following advice.“Your approach should be organized. It’s a great opportunity to make your operations more efficient and create more value for the organization and for con-sumers. Start by analyzing last year’s budget. Use the monthly variance analyses. Determine which allocations were accurate and which were off. Pay attention to our performance compared to industry standards. The organization uses an in-cremental approach to budgeting. Prepare a draft and share it with the workers in your unit to get their input. Modify your numbers. After a couple of iterations, your budget will be complete. If you want an outsider’s opinion, send me a copy.” As she was leaving, Jean added, “You can do this, Hector.”“Thanks.” Hector’s frown was gone. A week later, his smile returned.