- Consider different budgeting approaches in an organisation.
- Consider how the budgeting approaches may differ among various organisations, such as a Fortune 500 company, a small business or a non-profit.
- What are the characteristics of a budgeting system among the various organisations?
- What are some of the ethical issues related to budgeting and the successful implementation of a budget?
In an approximately five hundred words , address the following issues/questions:
‘I don’t need a budget; I run my own business so it’s all in my head. Bothering with a budget would just be a waste of time and money!’
- Do you agree or disagree with this point of view?
- Discuss the value of budgeting for organisations of all sizes and types in terms of effective resource management.
- Explain what characteristics of a budgeting system are most likely to contribute towards its successful implementation and how a lack of these might result in ethical problems.