Quarter One Budget Plan

Part I: Decisions for Quarter One. Prior to working on your Decisions for Quarter One, review the following through the Growing Your Business simulation, the “Suggestions for Quarter 1” pop-up screen, any Quarter One Internal Emails and/or Memos, and watch the Preparing Your Financial Commitments video. The pop-up will be available at the lower left (Blue Guidelines) of the Executive Summary Decisions Tab and the video, emails, and memos can be re-accessed through the Help section. Additionally, read Turning bean counters into difference makers: How corporate finance is changing with the times, Why financial dashboards matter, and Five pointers to get you started, and What are your financial statements telling you. The Decisions for Quarter One Assignment Must be completed through the Growing Your Business simulation. (Links to an external site.) Consider the following questions as you prepare your annual budget/plan (if the answer is “No” to any of the questions you may be at a Competitive Disadvantage and lack critical information to draw inference from): Did you Request/purchase the Marketing Report and Business Intelligence Dashboard (BID)? Utilize the 3 available role plays for Qtr.1? Consider in the R&D Projects (other than Project 2, for which you may want to complete funding in Qtr.1)? Must use the Role Play. It is critical you read the details of the role play very carefully and any questions should immediately be referred to the Help Desk. You can gain differentiated competitive advantage through effective use of the role play. Some role players only provide qualitative information, while others provide the ability to negotiate with quantitatively. The role play is a scarce resource because of the limited number of calls per quarter. Must submit your Quarter One Budget Plan. Periodically, as you modify inputs to use the “Model My Plan” at the lower right to see the impact of your decisions on the Financial Metrics. Input your financial decision and then click on the blue Submit My SRO button on the bottom right of the Quarterly Decisions screen. You must submit your Quarter One Decisions prior to moving on this week’s Quarterly Business Review assignment. Part II: First Quarter Quarterly Business Review (QBR). You must submit your Quarter One Decisions prior to moving on this week’s Quarterly Business Review assignment. Prior to beginning work on the First Quarter Quarterly Business Review, review the following through the Growing Your Business simulation, the Variance Analysis video and the content from the Suggestions for Quarter Two Decisions pop-up. The video will provide you with a variety of financial tools, routinely used in Financial Planning & Analysis, for planning, meeting commitments and growth purposes. These are tools any business leader, regardless of function, needs to have a working knowledge. Real world examples will be presented throughout the simulation. You can always re-watch the Variance Analysis video in the Supplementary Review Materials in the Help section. In addition, there is a TRI Corp Critical Equation in PDF format that can also be found in the same section. Additionally, read Turning bean counters into difference makers: How corporate finance is changing with the times, Why financial dashboards matter, and Five pointers to get you started, and What are your financial statements telling you. With the completion of Q1 you are responsible for completing your first Quarterly Business Review (QBR). This is a qualitative and quantitative summary of your competitive performance for Q1. Business reviews (or Operational Reviews) are a routine part of annual corporate activities and are very cross-functional in nature. A major component of a QBR is around meeting commitments that are embedded in your budgetary planning process. Meeting commitments are seen explicitly in your Variances. These learnings are designed to enhance your performance in future Quarters. The Quarterly Business Review Assignment Must be completed through the Growing Your Business simulation. After logging in, go to the Quarterly Decisions tab on the top right of the simulation site and then click on the Executive Summary tab to access the Quarterly Business Review section. Must be completed and submitted using all of the data provided including Quarterly Pre-Tax Net Income relative to Plan for the Quarter Review the Pre-Tax Net Income Chart Explanation PowerPointPreview the document Cash Flow walk Pre-tax Net Income in Plan Must show that Hisco is on track to Meet/Exceed its Annual Net Income Commitment through an evaluation of both quantitative and qualitative techniques for business analysis and decision making. Must create specific business tactics to achieve organizational survival and growth. After completing, check the box and submit in the lower right. After completing the simulation, students must save the provided pdf from the pdf found within the Executive Summary tab of the Quarterly Decisions page and submit it through Waypoint. Verify your submission was successful. To access the PDF for submission, click on the QTRLY Decisions tab from the simulation home page and then go to the Executive Summary tab. Within the Executive Summary page, you will find a Download link associated with each quarterly decision you completed. Remember, you will be receiving feedback on your QBR each quarter. You should review the feedback prior to submitting next quarter's decisions, as there may be some critical learning that can help your performance in the next quarter. Must use scholarly sources in addition to the course text.

Quarter One Budget Plan