University Budget Analysis: Variance, Performance Evaluations Report

This report delves into the core concepts of budgeting, variance analysis, and performance evaluations within the context of corporate performance management. It examines the strategic importance of these elements, including their role in the success and growth of a business. The report explores the Enterprise and Corporate Performance Management system, highlighting its benefits such as improved budgeting, cost reduction, and enhanced strategic alignment. It further discusses the significance of behavioral change management in achieving desired outcomes. Additionally, the report investigates the Balanced Scorecard as a key metric for managing business functions and achieving goal congruence, which emphasizes the alignment of individual and organizational objectives. The report includes references to support the presented concepts.

BUDGETING,
VARIANCE ANALYSIS,
AND PERFORMANCE
EVALUATIONS
MOD U LE 4 - SL P

Enterprise and Corporate
Performance Management
• The corporate management is also called at the corporate
management system which is well referred as the umbrella
term that well describes various methodologies and
processes that are used for managing the success of the
organisation.
• It is important to note that in order to perform the same, a
different approach or strategic management framework
needs to be well build whereby the various management
methodologies needs to be well deployed.
• One of the key thing is the Balance Scorecard which is a key
strategic planning and important management system,
which well takes several management system, along with
several organizational viewpoints into account (Krechovská

Enterprise and Corporate
Performance Management
The Enterprise and Corporate Management System can be
well thought of as the corporate performance as the
collaborative accomplishments, success, growth and
failures of an business organisation. The process of CPM
can in particularly be helpful in the following process such
as:
• Remodelling their budget system.
• Reduction of costs.
• Better aligned KPIs.
• Upgrading their organizational strategy.
• Improvement in the financial planning process.

Behavioral Change Management
• The change that can well
benefit the business-depending
on how much the same can be
well managed. The same can
well help, develop and sustain
the change initiatives.
• The behavioural change
management well requires a key
set of holistic, data driven,
proactive and structured
approach that would be
addressing people risks

Balanced Score-Card
• A balance score-card is a key
metric that is well sued for the
purpose of identifying
improving and controlling the
various functions of business
and its resulted outcomes
(Akkermans and Van Oorschot
2018).
• The four key perspective of
Balance Score-Card are as
Financials, Customers, Internal
Process and Organisational

Foster Goal Congruence for
Organization and Employees
Goal Congruence is defined as the consistency or an
agreement of individual goals with the company goals. It
is well applied so that that everyone working in an
organization needs to be well rowing together in the
same direction. Key and crucial steps for achievement of
goal congruence (Cuevas, Julkunen and Gabrielsson
2015).
• Knowing all the Important Goals.: Goal congruence is
all about the alignment of objectives.
• Set Achievable Targets
• Reward And Retain Employees
• Create A Happy Working Environment.

References
Krechovská, M. and Procházková, P.T., 2014. Sustainability and its
integration into corporate governance focusing on corporate
performance management and reporting. Procedia
Engineering, 69, pp.1144-1151.
Behavioral change management 2020. Available at:
https://advisory.kpmg.us/services/hr-people-change-services/behav
ioral-change-management.html (Accessed: 30 March 2020).
Akkermans, H.A. and Van Oorschot, K.E., 2018. Relevance
assumed: a case study of balanced scorecard development using
system dynamics. In System Dynamics (pp. 107-132). Palgrave
Macmillan, London.
Cuevas, J.M., Julkunen, S. and Gabrielsson, M., 2015. Power
symmetry and the development of trust in interdependent
relationships: The mediating role of goal congruence. Industrial
Marketing Management, 48, pp.149-159.