When the Exotic Newcastle disease (an infectious disease) broke out in southern California in 2003, it could have spelled disaster for the San Diego zoo. The zoo spent almost half a million dollars on quarantine measures in 2003. It worked: no birds got sick and the damage to the zoo's budget was minimized by a monthly budget re forecast. The new planning process introduced a year earlier, allowed the zoo to redirect resources to ward off the disease. The San Diego zoo's annual static budget was behind the times before Paula Brock took over as CFO in 2001. Brock's first efforts were link strategy to the process. Consultants believe it is a key way to improve people's involvement in budgeting. What is the major benefit of tying the budget to the overall goals of the company?
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
When the Exotic Newcastle disease (an infectious disease) broke out in southern California in 2003, it could have spelled disaster for the San Diego zoo. The zoo spent almost half a million dollars on quarantine measures in 2003. It worked: no birds got sick and the damage to the zoo's budget was minimized by a monthly budget re
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