Open University Budgeting Case Study


HelloRead the question carefully please. There are 2 parts in this assignment Part (A) and Part (B). In part (A) solve the question generally from you understanding. In part (B) you need to access TESCO website which is on the second page in the attachment below to answer the question. In part (B) you need to explain each point or inquiry separately then link it to Tesco with an example.The answer should be written by your own paraphrasing without copy and paste. The words counting is shown in each question how many you should write. You can %10+- You should use a Microsoft Office Word and Times New Roman Font of 12 points.You should use Harvard referencing style for in-text citation and list of references.
Thank you

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TMA, Spring 2021 – 2022
PART A: Budgeting
Budgeting lies at the foundation of every financial plan. It doesn’t matter if you’re living
paycheck to paycheck or earning six-figures a year, you need to know where your money is
going if you want to have a handle on your finances. Unlike what you might believe, budgeting
isn’t all about restricting what you spend money on and cutting out all the fun in your life. It’s
really about understanding how much money you have, where it goes, and then planning how to
best allocate those funds. Here’s everything you need to help you create and maintain a budget.
Critically discuss the benefits and limitations of using budgets for strategic management
purposes, with exploring some potentially adverse consequences of the budget process (Hint:
some research is required here). (500 words)
The division manager of Orange Corporation submit capital investment proposal each
year for evaluation at the corporate level. Mr. Raed Salem, the manager of Orange’s commercial
construction, often uses all capital available, adopting the view “we had better spend it or we will
lose it”. Comment on Mr. Salem’s’ decision. (300 words)
Discuss the ethical challenges in budgeting. (Hint: some research is required here). (140
TMA, Spring 2021 – 2022
PART B: Case Study, Tesco
Tesco PLC is a British multinational groceries and general merchandise retailer headquartered in
Welwyn Garden City, England. It is the third-largest retailer in the world measured by gross
revenues and the ninth-largest in the world measured by revenues.
1- Why should TESCO management focus on long-run performance? What are shortcomings
of short-run performance measures? (250 words)
2- What arguments would you use to persuade an organisation to adopt the Balanced
Scorecard approach? (150 words)
3- “A balanced scorecard can only be used for profit-oriented companies because of its
inclusion of a financial perspective.” Do you agree or disagree with this statement? Justify
you answer. (180 words)
4- What advantages do nonfinancial performance measures have? (200 words)
5- What are the advantages gained by TESCO in adopting the BSC? (100 words)
6- What are the steps needed to be taken by a company to implement the balanced scorecard?
(100 words)
7- Identify the challenges that may face a company to implement the balanced scorecard. (220
Total Marks: 44 + 56 – 10 Marks of deductions for general presentation and references]
In your answer, you should explain each point or inquiry separately.
All answers should be supported by examples.
END of Questions

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