Budgets are useful in our personal as well as our professional lives. How do you believe having a budget can help you make good decisions? For example, if you budgeted $500 a month for groceries but spent $900, what impact might that have on your other bills or discretionary spending for the next month? Although the level of complexity is greater for organizations than it is for most individuals, their circumstances and potential consequences are also similar to the individual. With these thoughts in mind, respond to the following: What are some benefits that you have experienced or believe that you could experience through utilizing budgeting techniques for your personal life? What do you think is the greatest benefit of budgeting for an organization? What consequences might the organization face by failing to budget? Also, in what ways could focusing too much on a budget create issues for an organization?
Budgets are useful in our personal as well as our professional lives. How do you believe having a budget can help you make good decisions? For example, if you budgeted $500 a month for groceries but spent $900, what impact might that have on your other bills or discretionary spending for the next month? Although the level of complexity is greater for organizations than it is for most individuals, their circumstances and potential consequences are also similar to the individual. With these thoughts in mind, respond to the following:
What are some benefits that you have experienced or believe that you could experience through utilizing budgeting techniques for your personal life?
What do you think is the greatest benefit of budgeting for an organization? What consequences might the organization face by failing to budget? Also, in what ways could focusing too much on a budget create issues for an organization?
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
