Evaluation Of A Social Worker s Field Placement - 987 Words

Reflective Journal No. 4 Supervising Style A social worker’s field placement and internship experiences are the uttermost integral components of his or her social work education. This experience can vary in both quantity and quality depending on the type of leadership and guidance the social worker is receiving. Supervisors play a fundamental role in the guidance and training of a new social worker during his or her internship. Having similar work styles as your supervisor can lead to a satisfying field placement experience. I am being supervised by Mrs. Jessie Bether she is the Area Social Worker Supervisor (ASWS) in the County of Service division of the Mississippi Department of Human Services (DHS). Upon meeting her I noticed that we shared similar work styles, such as being approachable, encouraging and ethical, to name a few. Approachability is extremely relevant to me and a trait I often groom. Mrs. Bether has an open door policy, making herself available to her employees to assist them if they need advice. She is never too busy to assist me with questions I may have associated with DHS or as a social worker. Encouragement is a vital segment of any job. I practice encouragement to maintain a high morale, it has been especially beneficial to me when doing group projects. Mrs. Bether is a great motivator, she is always encouraging her team by telling them what a great job they are doing. This is meaningful to me because encouragement assists a team to workShow MoreRelatedSelf Assessment And Professional Development Plan Essay881 Words   |  4 Pagesprofessional social worker and conduct oneself accordingly P.B. 2.1.1C.a: P.B. 2.1.1C.b: P.B. 2.1.1C.c: P.B. 2.1.1C.d: Readily identify as social work professionals Identify how agencies define clinical social work Demonstrate professional use of self with client(s) Develop, manage, and maintain therapeutic relationships with clients within the person-in environment and strengths perspectives. Compared to this time last year, I have more self-confidence when identifying as a social worker. Even thoughRead MoreHelping The Homeless And Interacting With Offenders At Community Crisis Incorporation Service1696 Words   |  7 PagesProgram assisting families stay warm during the colder months. 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This summary will highlight how I have met each of these key learning outcomes. OrganizationalRead MoreCurrent Level Of Care : A Brief Description Of Your Field Placement Essay1509 Words   |  7 Pageso Current Level of Care: A brief description of your field placement (1/2 page maximum) †¢ Types of services provided: Transitional Housing to Homeless veterans, treatment to homeless veterans who are suffering from co-occurring disorders, a stable setting for dual diagnosed veterans to learn life skills, money management, assisting with employment and permanent housing. †¢ Services Provided to the Community: The Community Integration Program exists to promote housing and employment stability amongRead MoreTraum An Emotional Response Essay1736 Words   |  7 Pagescome before and after entering the foster care system. After the youth, has enter the foster care system, the social worker that is giving to the youth take them to a therapist, so they can be examine to find out what kind of trauma the youth experience. The therapist then set the youth on a plan to help them progress through the trauma. Once the youth placed on the plan, the social worker and therapist than review how the youth is doing with the progress. The goal of the foster system is to connectRead MoreThe Privatization Of Foster Care1908 Words   |  8 Pagesfor whom the State agency has placement and care responsibility.? Of the 400,540 children in foster care nationwide, 195,400 were Floridians. With the fifty social service programs nationwide, Florida is one of a very few s tates in the nation with statewide privatization of social services, for this study, with an emphasis on privatization of foster care. In the present paper, the privatization of foster care plays a significant role in the care and placement of Florida?s abused, neglected, and abandonedRead MoreInterpersonal Communication Course I Have Increased Self Awareness1997 Words   |  8 Pagesreceived feedback from my supervisor at my placement after mid-term evaluation. She explained to me how amazed she was, and how I did not take it personal after she wrote ‘not applicable’ in one of the lines on my mid-term evaluation form that says, â€Å"work with service recipients.† She explained, reason why is because I have not done it. She explained how good my acceptance was after she refused to agree on grading me on the number three of my mid-term evaluation form. Therefore, that has helped me developRead MoreHomelessness, Housing And Or Child Welfare1313 Words   |  6 P agesthe homeless in many capacities that encompass my experiences a Social Worker, a Volunteer Guardian ad Litem (VGAL), and a Volunteer at Teen Hope. I’ve also frequently work serving the homeless by distributing clothing donations at Seattle’s Outdoor Meal Site on the corner of 6th Ave Columbia St. (b) housing - I’ve performed outreach, advocated, and assisted in locating suitable housing for case participants as a Social Worker, a Volunteer Guardian ad Litem, and Volunteer at Teen Hope. (c)Read MoreEthical Issues And Codes Of Ethics1891 Words   |  8 PagesIntroduction The National Association of Social Workers has a Code of Ethics that every social worker should keep in mind when working with clients. The Code of Ethics is a set of written principles that discuss important conduct and behavior that is created by the organization to serve as a guide for the social work profession. The purpose of the Code of Ethics is to allow those in the profession to conduct themselves ethically and to engage in ethical decision making. Behaving ethically canRead MoreHuman Resource Management : The Components Of An Organization s Management System2095 Words   |  9 Pages Human Resource Management is one of the components of an organization s management system as a whole, and has played a leading role in corporate strategy. Human resource management includes activities to attract and also the training and saving of effectiveness in the workforce. Human resource managers successfully schedule and implement all of the activities linked to worker selection, planned testing, training and development, and listening and addressing employees problems and grievances

A Short Story Assignment - 3653 Words

Short Story Assignment It was a good place, twelve year old Caitlin Mathis thought to herself. Shed declined coming there in 2011 when it opened. She wanted to go when she was ready and she wanted to go alone. She was in lower Manhattan, at the World Trade Center Memorial. A couple years ago shed refused to accompany her teary-eyed mother there for the ten year memorial. Shed refused to stand in the crowd and listen for her fathers name. Shed refused to bring a flower. Her mother understood. Or perhaps not, maybe her mother didnt understand; maybe her mother just tolerated her decision and didnt feel like fighting. Caitlin waited in line with a throng of people. It was starting to drizzle. She had a ticket printed out in her hand that was crumpled, and now getting wet. The idea that she had a ticket in her hand to see her fathers name, carved in metal, wafted in and then out of her head. No one knew where she was right now. No one knew where he was either. His body incinerated in on the 98th floor of tower one, she imagined her dads remains exploding like a charcoal dandelion; shivering and shimmering over the city. He was nowhere. He was everywhere. She missed him. Caitlin felt that dull ache start up again in her chest, that thudding sob start to begin and the line trudged ahead forward. A raindrop fell on her right cheek. She thought it was a raindrop. Caitlin walked forward, emerging onto the memorial park. The footprints of the towers were now twinShow MoreRelatedThe Human Condition Short Story Assignment1276 Words   |  6 PagesThe Human Condition-Short Story Assignment Firstly, what is the human condition? I’ve been searching for an answer about what the human condition really means. In different situations, especially in the six stories I was asked to read, I put myself in the very different situations of each story and what I’ve found is that the human condition is the characteristics or key events and situations that compose the essentials of human existence or the positive and negative aspects of being a human beingRead MoreSummative Short Story Assignment Questions : The Taste Of Melon1168 Words   |  5 PagesThe Taste of Melon Summative Short Story Assignment Questions 1. a) During the resolution of the story, Mr. Wills reveals that the seed melon represents a commitment to his sick wife, because he knew she wanted it – even if he didn’t know the exact reason why. (Deal, Pg. 10) â€Å"And my sick wife hungered for the taste of that melon,† he said. â€Å"Not for herself, like I thought. But to invite the whole neighborhood in for a slice of it.† b) To the protagonist, the melon represents anRead MoreA Gap of Sky Essay1212 Words   |  5 PagesWritten assignment 5 Life as a teenager isn’t always as easy as it seems. Actually it is the most difficult part in life for many people which we get to see in Anna Hope’s short story â€Å"A gap of sky†. Some choose to focus on education whereas other choose alcohol and partying. Whatever path people would choose they all will be lead to the right path in the end no matter what has happened in the past. It just takes time. The short story shows us that even when you have had a rough time in the pastRead MoreBe Here Now903 Words   |  4 Pages* The short story †Be Here Now† written by Miguel Syjuco, was published in 2012. The short story is from Miguel Syjuco’ anthology â€Å"Elsewhere†. We meet a journalist who is struggling with PTSD, and his girlfriend Jenna. The story is about a mixed race man, his grandfather was Asian. He is a photographer, and he has previously been taking war pictures in an Arabic country. â€Å"I browse through some of my photos that made front pages. A soldier on his knees defusing an IED on the roadside [†¦] A groupRead MoreSummary Of My Hands Were Trembling 960 Words   |  4 Pagesthis will not get me there. Self doubt filled my body as I sat at the computer desk anxiously trying to upload my short story to turnitin.com. Many people thought that the short story assignment would be fun and innovative. However, many students found it to be more of a struggle than a walk in the park. Class, before the bell rings, I want to introduce our next writing assignment Mr. Wickenhauser explained. I could hear the class groan. We had just gotten done with a take home essay and anRead MoreSummary Of My Hands Were Trembling 960 Words   |  4 Pagesthis will not get me there. Self doubt filled my body as I sat at the computer desk anxiously trying to upload my short story to turnitin.com. Many people thought that the short story assignment would be fun and innovative. However, many students found it to be more of a struggle than a walk in the park. Class, before the bell rings, I want to introduce our next writing assignment Mr. Wickenhauser explained. I could hear the class groan. We had just gotten done with a take home essay and anRead MoreCompare And Contrast The Awakening And The Yellow Wallpaper1211 Words   |  5 Pageshad many different reading assignments. The assignment I chose to talk about in this paper for week number one was â€Å"The Yellow Wallpaper† by Charlotte Perkins Gilman. For the second reading assignment for this current week will be â€Å"The Awakening† by Kate Chopin. I choose this two reading assignments because they were both very similar, but at the same time very different. Throughout this paper I will be demonstrating a common theme—characters—and description of each story. 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Microfinance in India Free Essays

string(49) " formal banking institution that provides loans\." India has always been a very agrarian focused culture, with approximately 450 million people are currently in need of funds. Micromanage encompasses many different types of services such as credit, savings, Insurance, remittance and pensions. Micromanage Initiatives primarily focus on microcircuit services because rural towns are heavily reliant on credit for a wide range of needs for example engage In economic activity, consumption needs, mitigate Income shocks, Increase savings and improve self-empowerment. We will write a custom essay sample on Microfinance in India or any similar topic only for you Order Now In many micromanage areas, women comprise most of the groups because they are seen as more reliable with funds. Indian’s micromanage evolution can be broken down into 4 distinct phases. Indian’s micromanage movement started in 1903 through its credit cooperative movement. Before this movement, the poor often relied on the village’s money lender whenever they needed access to cash. Money lenders were notorious for high interest rates; they would charge approximately 3%-8% per month on loans. Although money lenders would prey on farmer, they had no other choice to use them because they could not get access to banks. Farmers’ earnings were directly related to how well their crops fared. High Interest rates coupled with possible years of famine made repayment Impossible caused agrarians to riot. In 1904, the Co-operative Society Act extended credit to Indian villages under government sponsorship as an alternative to traditional money lenders. Cooperatives were the only option to most rural areas because of its spatial spread and penetration in remote areas. During this phase commercial banks did not venture into rural areas because they were in the private sector and had no incentive to extend their outreach to rural areas. However they became unreliable because of NAP inefficiencies and they lacked revisionism’s. Credit cooperatives had trouble distributing funds due to frozen assets from overdue repayments. Therefore rural areas stopped using credit cooperatives and opted for high interest money lenders. The next phase of Indian’s micromanage evolution was the Nationalization of Social Banking. In 1969, former Prime Minister Nadir Ghanaian nationalized 14 major sector banks In part of her political policy to eradicate poverty. After the nationalization of banks, regional rural banks (Orbs) were created in order to strengthen the rural banking structure and reach more people. These banks offered a hybrid service of the previous cooperative banks with a more localized approach. Approximately a decade after, the government sponsored the Integrated Rural Development Program (ARID) to deliver RSI. 15000 to the poor. Indian’s Integrated Rural Development Program (ARID) is a great example of inefficient subsidized credit. This program was set up in order to address the need to allocate funds according to social targets, meaning that 30% of the fund was allocated to socially excluded groups (defined using the caste system) and 30% towards women. Between 1979 and 1989, there was a huge period f ARID growth due to a huge subsidy budget of $6 billion. But despite the huge fund, the scheme did not generate a good Institutional performance. ARID repayment rates fell below and only of borrowers took out a second loan after the first loan was repaid; which is particularly troubling given it is perceived that repeating rate fell to Just 31%, and therefore the ARID failed its key purpose: being a reliable and meaningful lender to the poor. According to the Rural Finance Program at the Ohio State University, the main mistake government-led development banks (such as he ARID) made, was to view offering credit as the same as offering seeds. Ohio argues that credit should be thought of as a fungible tool of financial intermediation, and as not as a specific input into a production process. They claimed that credit could not Just be directed towards any particular section of society; and when this was linked with cheap credit policies, this caused havoc in rural financial markets. This outcome was due to the inadequate accounting of incentive effects and politics associated with subsidies. It is argued that subsidizing banks created inefficient monopolies and removed market tests. Some have even gone on to say that the households involved would have been better off without the subsidies. Firstly subsidized banks pushed out the informal money lenders, a source of credit the poor heavily rely on. Secondly, the use of subsidized credit means that the interest rate, a rationing mechanism, is driven down below market rates, breaking down the rationing mechanism. This meant that credit was no longer allocated to the most productive projects, and was often distributed on the basis of political and social desires. Thirdly, with subsidized lending, bankers incentives to collect savings posits were almost eradicated due to the constant flow of capital from the government, so poor households were left with unattractive and inefficient ways to save. During this phase, a trade union of self-employed women workers in Gujarat established a Self-Employed Women’s Association (SEWS) bank in 1974. Approximately 4000 members contributed RSI. 10 to register as a co-operative bank to provide banking services to poor women. This successful bank was one of the first initiatives to introduce micromanage. The third phase of Indian’s micromanage evolution is the introduction of SSH bank engage program and the growth of MONGO- Miff. The National Bank for Agricultural and Rural Banking (ONBOARD) was established in 1982 to focus primarily on agricultural and rural development. In 1992, ONBOARD pioneered the first self help group. These informal groups of women promote savings among members and used these resources for meeting their credit needs. A breakdown of this model is that in every meeting, the members would put aside a certain amount for deposit. These deposits are then recorded and through accumulation they become a way for members to lend to each other. Although the interest rates in this model are higher than what banks offer, the SSH groups reap the benefits because the repayment goes directly into the group’s savings. This means that the group’s loaning capabilities increases the more its members regularly save. In this model, there is no formal banking institution that provides loans. You read "Microfinance in India" in category "Papers" The primary goal of this model is for all members to begin their own saving initiatives. Later this model evolved to become part of Self Help Group Bank Linkage program (Kbps); after analyzing a SSH for 6 to 8 months, banks would pair up with groups to extend the credit of the group. After another period of 6 to 8 months, banks would offer a larger credit line; the maximum a group could borrow was four times their current savings account. Currently Kbps account for 58% of current loans outstanding. Micromanage Institutions (Miff), Non These type of institutions are similar to Bangladesh Grahame Model. In 1976 Unhandsomely created the Grahame Bank Model as a project to assist poor families by offering credit. Grahame means Mileage† in Bengali. This type of banking was used to show that the poor people of Bangladesh are indeed bankable and able to pay back loans without promising collateral. The model success is based on the fact that there is no need for collateral however through group peer pressure, 96% of all loans are repaid. By offering lower interest rates than the Government of Bangladesh and weekly repayment schedules, the Grahame model has been very successful. This model has been very successful in Bangladesh and has become a formal banking structure in 1983. India modified this banking structure and Joint Liability Groups Loss) became the dominant model used in Micromanage institutions (Miff). This model is similar to Bangladesh Grahame Model but it introduces an important concept, Joint liability. In this model, there is usually 4 to 10 members who are self selected. Due to self selection, most of Joint liability groups are homogeneous groups. Whenever the group decides to take out a loan, all members must sign a Joint liability contract; this ensures that if one member fails to repay the loans, the other members are liable for it. This type of collateral is called social collateral because members often use peer pressure to make sure that all members repay their loans. This type of group is intended to Just be credit groups and regular savings by embers are not required. The group only exists because individual members are legally bound to one another. Miff prefer this model to provide credit to tenant farmers because the groups are easy to make and there are less restrictions regarding the utilization of the loan. During this phase, Miff experienced a boom because Nags coupled themselves with Miff to attract commercial investment. Indian’s current phase of micromanage encompasses the centralization of micromanage. Throughout its history, micromanage has gone through an intense transformation to provide microcircuit for a wide range of services. Currently India uses a hybrid of the above models in its Miff. However Miff are being criticized for its high interest rates. Many borrowers only apply for loans between 5000-20000 rupees; the small value incurs high fixed costs for Miff. To avoid losing money, Miff often charge higher interest rates. Four key reasons why Miff charge high rates include: the cost of funds, Miff operating expenses, loan losses, and profits needed to expand their capital base and fund expected future growth. The costs that are associated with microcosms are the cost of the money to loan, cost of loan defaults ND transaction and operating costs. However it is important to note that there is approximately 450 million people untouched by any micromanage services. These people are often referred to as â€Å"unbreakable† because they rely on family members or moneylenders for financial services. During 2005-2010, India experienced a boom in micromanage with state, Andorra Pradesh, leading the reform. However it was soon realized that Miff were using unethical practices to collect payments from borrowers. These practices escalated to cause many borrowers to commit suicide, little of borrowing and accept high interest rates to avoid Miff. The state government of Andorra Pradesh responded by enacting the Andorra Pradesh Micromanage Institutions (regulation of money lending) Act in 2010. The act made it they didn’t have to pay back the loans and the government would protect them. This led the repayment rate to plummet from 99% to a mere 10%. The act was trying to protect the borrower and punish Miff for charging exorbitant interest rates and causing over borrowing. Critics of the act state that She were also part of the crisis ND that they were not negatively affected by the act as Miff were. They state that government backed She were also part of over borrowing and the act limits Miff business and successfully reduces competition between both micromanage institutions. The act negatively affected Miff profitability, loan recovery and their overall operations. The result of the crisis left many Miff at negative worth, this in return limits their accessibility to garner fresh funds and their overall ability to reach the rural poor. According to the norms, banks are not allowed to lend to banks that have negative worth. The crisis left micromanage companies like SHARE Microfilm, Ashman Microfilm, Spandex Sporty Financial, Trident Microfilm, and Future Financial Services unable to disburse fresh loans to clients. Banks also lost trust in Miff and there has been a serious liquidity crunch. Increased costs of borrowing coupled with the inability to access new funds further strained the profitability of Miff. Len conclusion, the enactment of the Andorra Pradesh Act stifled the access of basic financial services to the poorest of India citizens. The current goal for Indian’s micromanage sector is poverty alleviation through uncial inclusion and inclusive growth. The 2010 Andorra Pradesh Crisis highlighted a few issues of Indian’s micromanage sector. The crisis was due to high interest rates and multiple memberships and borrowing. Other issues include inadequate outreach and coverage, lack of regulation, limited product innovation, rising Naps and recovery issues, ratings of Miff and data availability. Proposed Micromanage Bill of 2012 After the 2010 Andorra Pradesh Crisis, the government was very worried over the state of Miff and proposed a bill to the development and regulation of Miff. The bill allows the central government to be the sole regulator and supervisor of Miff by creating the Micro Finance Development Council to oversee the development of Miff. Specifically the bill wants all Miff that are Non Banking Financial Companies (NBS) to be regulated by RIB while Miff that aren’t companies would be regulated by the respective state governments because they will be able to take a more localized approach and be better equipped to serve them. The bill would also require Miff to provide an annual balance sheet, profit and loss account for audit to RIB at the end of ACH fiscal year. RIB would also have the authority to set the maximum annual interest charged and maximum limit on the margins Miff are allowed to make. RIB becoming the prime regulator for Miff increases uniformity and stability. However critics of the bill rather have a whole entire new body to regulate the micromanage sector such as Micromanage Regulatory and Development Authority. Key issues that still need to addressed: relating to margin, interest rate cap, allowing collection of thrift by Miff, enabling Miff to render other services than credit like pensions, insurance, etc. Ceiling limit on credit, and regulation. Critics don’t want a cap on interest rates or margins because they believe that it negatively affects the entire private micromanage sector. Specifically price controls only benefits a few while The bill lacks specific provisions, which would provide and facilitate financial inclusion at an affordable cost to poor and weaker sections. The bill doesn’t address what led to the AP Crisis: multiple credit lending, over-indebtedness, multiple memberships and coercive measures adopted by Miff. How to cite Microfinance in India, Papers

Investigate a Budget Variance

Question: Discuss about the Investigate a Budget Variance. Answer: Introduction: The application of budget is significant for the business and for the entities. The relevance of budget is not when the money is tight or the business is undergoing change. The budget is for everyone. The budget is mainly used to make short term and the long term projects based on the previous experience in terms of expenses and income. Variances: The budget variance is nothing but the discrepancy of predicted cost and the actual cost. The budget variance may include the shortfall in revenue if the estimations are not property in line with actual figures. The budget variance would include planning for the revenue generation and allocation for emergency contingency account. There can be several reasons attributable to the variance. In case of equipment-reliant business endeavors, especially heavily on machinery, the unexpected maintenance cost would impact significantly to the business. The important part of the variance could be because of increased salary. The unusual increase in maintenance cost would increase actual cost resulting in higher unfavorable variances (Mohr, 2016). The loss of inventory could possibly another reason for unfavorable variance. The natural disaster and other contingencies may severally damage inventories which would have significant impact on the variances. In case of manufacturing company, the abnormal loose caused by mishap or any other reason would increase the variance. The inaccurate budgeting could be another reason for the higher variances. The significant mistakes in prediction would add to the variances significantly (Mueller, 2016). Budget in performance evaluation: There are various tools available to the management to assess the performance of the company based on the financial inputs and other inputs. The future plans are dependent on the sales and the revenue generation to meet fixed expenses. The company has to plan accordingly to deal with the issue of lower sales. The budget is used as the tool of performance assessment. The set of targets are there in the business but it has to be matched with the previous year performance. This is the significant aspect of the business. The performance evaluation is important aspect of the business. The role of the business management includes assessment of customer benefit and sales growth. These two important factors are interlinked to the business. Assessment of the performance based on the inputs received from budgeting and actual figures, better communication channels both inside and outside can be built. The performance evolution in terms of declaring bonus to the employee is important part. Due their good work Ben Hamilton received bonus of $14,633 and Jennifer Boyce received bonus of $23,898 but as Bill Maxwell did not perform according to his expectation level, no bonus was declared or paid to him. The tracking of spending variances can be tracked with help of budget. The tracking budget variances are done monthly basis to pinpoint the issue. The sales generated and the actual expected sales figure works as important performance indicator. The assessment has to be done objectively to assess the root cause of the difference. Modification recommendation: The budgeting and the variances of actual expenses are indicating several things. There are certain parameters created by the company to assess actual materials to be used in production but surprisingly the materials used actually are higher than the budget. The root cause of the increase could be higher material cost ort loss of production. If it is the loss of production, then the vulnerable areas in production has to be carefully looked into. The direct labour cost has also increased significantly. If the labour cost is linked to the production, then the wages rates may have been revised (Vitez, 2016). If the production is based on fixed wages then the labours are not managed efficiently by the supervisions are by the managers. The increase in labour cost and material cost has increased the contribution margin significantly resulting into lower profit margin for the company. There is need to revisits the factors behind such loss of money value and the sinking of margins. The assessment of the future material cost has to be properly done and if required an agreement has to be signed between the company and suppliers so that dramatic increase in the cost does not have negative impact on the margins of the company. On the other hand the wages of the labours has to be linked to the production so that maximum can be derived out of the arrangement (Benge, 2016). Teddy Bear Toy Companys balance scorecard: The balance scorecard is a strategic planning and management system which is exclusively used by the industry to align business activitiesto the vision and the mission. The important role of the balance score card is to monitor organization performance against the strategic goals set by the industry. It is a framework created by Drs. Robert Kaplan and David Norton for non-financial performance measurement (Investopedia, 2016). It is well known fact that 50% of the industry is using BSC for performance measurement and half of the large industries in Europe and Asia and Australia is using BSC. The different perspective of the business is understood and assessed with the help of BSC. The employee training and the adoption of the corporate culture are to increase the repository knowledge of the employees. Here in case of Teddy Bear Toy Company, labour performance has become one of the challenging parts of the business. The increase in the output can help in creating better results for the company. The business process perspective for Teddy Bear Toy Company includes management of raw materials and building strong relations with suppliers and customers. The increase in the raw material prices could be controlled with a proper understanding and agreement (Balancedscorecard, 2016). The strong financials are in the interest of the business and the major changes in the policies would significantly change the policies of the business. Conclusion: The role of the management is significant in development of the business. Teddy Bear Toy Company should use budgeting and BSC as important tools for the assessment of the business as it would reveal the facts of the business and indicate the savings and other factors. Budgeting is used as a tool to forecast the facts and BSC to correct the problems. The important aspect of budgeting and BSC is how the industry would be able to save money for the future and make better arrangement in the long term (Olsen, 2008). References: Balancedscorecard. (2016). Balanced Scorecard Basics. Retrieved 09 21, 2016, from balancedscorecard.org: https://balancedscorecard.org/Resources/About-the-Balanced-Scorecard Benge, V. A. (2016). Budgets as a Basis for Evaluating Performance. Retrieved 09 21, 2016, from smallbusiness.chron.com: https://smallbusiness.chron.com/budgets-basis-evaluating-performance-82027.html Investopedia. (2016). Balanced Scorecard. Retrieved 09 21, 2016, from www.investopedia.com: https://www.investopedia.com/terms/b/balancedscorecard.asp Mohr, A. (2016). Reasons to Investigate a Budget Variance. Retrieved 09 21, 2016, from smallbusiness.chron.com: https://smallbusiness.chron.com/reasons-investigate-budget-variance-47924.html Mueller, D. R. (2016). What Are Some Examples of Budget Variances? Retrieved 09 21, 2016, from smallbusiness.chron.com: https://smallbusiness.chron.com/examples-budget-variances-24973.html Olsen, D. H. (2008). Performance Management and the Balanced Scorecard. Retrieved 09 21, 2016, from onstrategyhq.com: https://onstrategyhq.com/resources/performance-management-and-the-balanced-scorecard/ Vitez, O. (2016). What Is the Role of Budgets Performance Reports? Retrieved 09 21, 2016, from smallbusiness.chron.com: https://smallbusiness.chron.com/role-budgets-performance-reports-861.html.