Budgeting is important for
Exclusiveness for planning and control
All future decision making
For all issues related to planning, control and decision making
All of the above
| Option D (all the above) | |
|
Budgeting is a managerial technique which involves creating, designing and implementing the budgets within an organization. Comment if you face any issues |
Budgeting is important for Exclusiveness for planning and control All future decision making For all issues...
Planning and Control- Budgeting Management and cost accounting requires the accumulation of costs for a number of different purposes, i.e. stock valuation and profit measurement, decision making and planning and control. The budgeting process has been traditionally used to plan an organisations’ activities into the future. A budget can be described as an approved financial plan, reflecting expectations for a defined, future period of time. Budgets also serve an as important framework for performance evaluation and control by holding individuals...
1. Describe how decision-making and resource allocation are important to managing a strategic planning process in a public health organization? 2. How would a public health executive compare and differentiate two strategic plans from public health-related organizations?
Planning and control are a) flexible management tools b) steps in decision making process c) aid in achieving an organizational tools d) all of these answers are correct
As you read, budgeting is an important planning and control tool. Tell me and the class about your experiences with budgeting in a business environment. Do you or have been part of the budgeting process? Within the master budget of the organization, what was your role and responsibilities? What did you find the biggest challenge with budgeting? If you have not been part of the budgeting process before, what you believe would be the biggest challenge? please can make it...
Distinguish planning decisions from control decisions. A. Planning decisions focus on organizational goals without consideration of past performance. Control decisions focus on predicting results under various alternative ways of achieving those goals, deciding how to attain the desired goals, and deciding how to evaluate performance. B. Planning decisions are budget oriented, where control decisions focus on financial reporting. C. Planning decisions focus on selecting organization goals, predicting results under various alternative ways of achieving those goals, deciding how to attain...
Describe how decision making and resource allocation are important for managing a strategic planning process in a public health organization. (15 points)
Surveys show budgeting is regarded as one of the most important management tools by Asian companies. Required: (i) Discuss five (5) advantages of budgeting in planning and control. (ii) Identify three (3) guidelines that an organization needs to follow if budgeting is to be an effective motivational tool for employees. (16 marks)
Explain the purpose of using budgeting as a planning tool. Cite 2 examples of how management can use budgeting when it comes to decision making.
Relationship between planning and decision making in resource allocation in the strategic planning process
Understanding consumer’s decision making is important for corporate strategy. Which of the following is NOT directly related to the benefits of understanding consumer’s optimal choice? a. Understanding consumer’s decision making is required to drive the supply curve b. Understanding consumer’s decision making is useful for corporate pricing strategy c. Understanding consumer’s decision making is useful for corporate strategic positioning strategy d. Understanding the marginal principle is useful to allocate efficiently scared resources