Manage Budget Essay

2345 Words10 Pages
Project 1 Conduct some research or use an organization that you may know of, get a copy of an annual report. Answer the following questions: 1. To whom is this report disseminated and how is this done? WHO stakeholders – who are those (local government, and administrative staff, local companies) who, although not directly involved in any project activity, share an interest in the success of the initiative The general public You can also conceive the impact of dissemination as resembling four concentric circles, where the effort to reach different target audiences increases as you move outwards. HOW Dissemination is achieved through a wide variety of pathways, from traditional, face-to-face communication methods, to the use of ICT 2. Why do these people need the information contained in the annual report? Private or public organizations, charities or government services have stakeholders to whom they are accountable. A stakeholder will require financial information to get an understanding of the performance of the organization. This record shows the assets owned, amounts owed, amounts invested in the organization and profitability to better manage the operations. Changing Environment of the Organization A stakeholder is interested in the equity of the organization. The traditional objective of an organization used to be maximizing profits. Today's goals have widened because of the changing environment in which the organization operates and includes earnings per share, total sales, employment numbers, management satisfaction, environmental protection and many other factors that have an impact on the equity of the business. For this reason, the stakeholder is interested in the financial information of the organization. Performance of the Organization The organization's performance can be assessed through an income statement, balance sheet
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