Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
How can budgeting be used for strategic allocation of resources?
Expert Solution
Introduction
In budgeting, standards are set for the next period so that actual performance could be directed towards completion of those set standards.
Budgets include sale targets, production targets, budgeted operating expense, and budgeted capital expenditure.
Organization’s strategies and goals are overall organization's goals that such organization wants to achieve; for example, improving market share, obtaining competitive edge, or customer satisfaction.
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