Managing Financial Resources And Decisions Assignment

Managing Financial Resources And Decisions Assignment-30
A specialist's message getting through to a farmer does not totally depend on how much money is spent on the process.However, organizations that are effective tend to know how their money is being spent. Leaders are responsible for acquiring and maintaining resources for their organization.

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A case can easily be made that sound financial management is the first step toward quality programming. These efforts tend to be more successful when requests deal with issues of high national priority and when an explanation is provided as to how the additional resources will be used.

There is an almost universal reaction of managers when it comes to money, namely, they do not have enough of it. Depending on custom and regulations, extension organizations may receive support from any combination of the above.

Managers may be inclined to say that their problems would be solved if they just had more money to work with.

And having more money to use is certainly better than having too little.

Poor financial management, on the other hand, often accompanies and contributes to failure.

This chapter focuses its attention on principles related to money matters.

The function of management is to plan, organize, staff, lead, and control.

Every one of these functions is influenced to a great degree by how much money there is. Leaders of extension organizations are accountable for the financial resources assigned.

Obtaining financial resources Keeping track of financial resources Predicting organizational costs Maintaining a balance in how resources are to be used Decentralizing the decision-making process Using information to improve efficiency Using information to increase effectiveness Wasting resources Misappropriating resources Summary References Just as there are several organizational models for delivering extension services to the public, there are a number of ways to finance those services and to keep track of the money.

Sound financial management may be fundamental to success.

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