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In every article, different topics
have been discussed, but all articles are connected with the primary concept of
strategy and strategic management. In the first article, it has been said that
both vision and mission have originated from the essence of religions such as
Islam, Christian, etc. This is how the business world adopted these concepts,
which are being used for strategic management for centuries. The research has
proved that strategic planning based on mission and vision is a great tool for
organizations to stay on the right track. The Bain & Company conducted a
survey in 2008, which proved that Vision and Mission ranked third in the list
of tools for management of the organization, which shows its importance. In the
second article, the focus of the author is on strategic performance management
vs. strategy execution. Strategy execution is one of the terms, which has
gained a lot of popularity in recent times. The real meaning of this term is
related to delivering something as per the expectations. On the other hand,
when strategic performance management used as a term in the business, it is
mostly related to the fact of, how things are being done with desired outcomes,
especially on an individual level. The article concluded that both terms are
important with their advantages and disadvantages.
The third article has turned its focus toward building a strategy map so that firms can achieve great results by increasing their business performance. The firms will not be able to achieve their objectives if they will not may their strategy. So, it is vital for business firms to become performance-focused so that they can map their strategy along with the formulation of particular objectives to move forward in a specific direction. The article has discussed different components of the Strategy Map, which can be important in deriving a proper strategy. The article has also discussed various practices for business firms to map their strategy with strategic objectives. The fourth and fifth articles are related to business strategy. The fourth article is explaining for firms to understand how business strategy and KPIs should be aligned. If KPIs will not be aligned with strategy, then desired outcomes will never be achieved. That’s why it is vital for firms to not only align their business strategy but also improve it in every possible manner. There are a variety of benefits by improving the business strategy such as achieving organizational objectives, development of good strategy, getting a clear direction, etc.
|
2020-2023
Budget |
|||||
|
INCOME |
Actual |
Budget |
Difference |
||
|
Operating
Income |
|||||
|
States
- Qk 1 |
145,500 |
150,000 |
(4,500) |
||
|
States
- Qk 2 |
165,800 |
150,000 |
15,800 |
||
|
States
- Qk 3 |
149,200 |
150,000 |
(800) |
||
|
States
- Qk 4 |
157,000 |
150,000 |
7,000 |
||
|
Other |
|
|
- |
||
|
Total Operating Income |
617,500 |
600,000 |
17,500 |
||
|
Non-Operating
Income |
|||||
|
Interest
Income |
345 |
400 |
(55) |
||
|
Rental
Income |
|
|
- |
||
|
Gifts
Received |
|
|
- |
||
|
Donations |
|
|
- |
||
|
Other |
|
|
- |
||
|
Total Non-Operating Income |
345 |
400 |
(55) |
||
|
|
|
|
|||
|
Total INCOME |
617,845 |
600,400 |
17,445 |
||
|
EXPENSES |
|
|
|
||
|
Operating
Expenses |
|||||
|
Accounting
and Legal |
600 |
1,800 |
(1,200) |
||
|
Advertising |
850 |
3,000 |
(2,150) |
||
|
Depreciation |
|
|
- |
||
|
Dues
and Subscriptions |
325 |
975 |
(650) |
||
|
Insurance |
4,200 |
12,600 |
(8,400) |
||
|
Interest
Expense |
|
|
- |
||
|
Maintenance
and Repairs |
2,430 |
1,500 |
930 |
||
|
Office
Supplies |
240 |
1,200 |
(960) |
||
|
Payroll
Expenses |
19,200 |
57,600 |
(38,400) |
||
|
Postage |
50 |
225 |
(175) |
||
|
Rent |
25,000 |
75,000 |
(50,000) |
||
|
Research
and Development |
|
|
- |
||
|
Salaries
and Wages |
72,000 |
216,000 |
(144,000) |
||
|
Taxes
and Licenses |
1,225 |
25,000 |
(23,775) |
||
|
Telephone |
780 |
2,340 |
(1,560) |
||
|
Travel |
|
|
- |
||
|
Utilities |
|
|
- |
||
|
Web
Hosting and Domains |
240 |
720 |
(480) |
||
|
Other |
|
|
- |
||
|
Total Operating
Expenses |
127,140 |
397,960 |
(270,820) |
||
|
Non-Recurring
Expenses |
|||||
|
Furniture,
Equipment and Software |
150 |
450 |
(300) |
||
|
Gifts
Given |
|
|
- |
||
|
Other |
|
|
- |
||
|
Total Non-Recurring
Expenses |
150 |
450 |
(300) |
||
|
Total EXPENSES |
127,290 |
398,410 |
(271,120) |
||
|
|
|
||||
|
Net
Income Before Taxes |
490,555 |
201,990 |
288,565 |
||
|
Income
Tax Expense |
|
|
- |
||
|
|
|
|
|
|
|
|
NET INCOME |
490,555 |
201,990 |
288,565 |
||
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