Blueprint for Personal and Professional Growth
During this course, you have become familiar with a number of different types of budgeting and examined their preparation and uses. Consider the information you have been given. As a manager, you might not have to construct a budget, but you will be required to provide input in its creation or work with a previously constructed budget.
In a 1- to 2-page paper, respond to the following:
- What is the importance of budgets for organizations in today’s global economy?
- There are many assumptions that go into the preparation of a budget. What are some of those assumptions and how will you gather reliable information to make more accurate assumptions?
- What budgetary skills do you need to possess to be an effective manager and what will you do to improve those skills? What resources will you consult for information?
- What did you learn in this course that is most important to your future as a manager? How will you apply your newly acquired knowledge in your profession?
- After taking this course, how will you approach your role as a manager differently?
3 hours ago
human resource management budet and resource allocation description 2 pages, Double Spacing
Importance of Budgets for Organizations in the Current Global Economy
Several business owners start their operations with high enthusiasm and optimism, but without a well-organized budget, they experience difficulties when creating a successful action plan. Successful companies ensure that there is time for the creation and management of budget, preparation and reviewing business plans and monitoring their business performance. Budgeting ensures that available capital is identified, it provides an estimation of expenditures and predicts the incoming revenue (Becker & Thaten, 2016). Through the reference of budgeting, businesses can evaluate the expenditure against performance and make sure that there are available………..
APA 623 words