Budgeting is an important part of an organization's overall planning. Through budgeting, each part of an organization's structure can be identified for decision making and control. A reasonable budget can allow an organization to allocate resources and provide a plan and direction for the organization. A budget can also help measure performance and ensure that managers are held accountable for their decisions.
Consider your professional experience and knowledge from this week's Resources and/or Optional Resources as you answer the following Discussion questions:
After reading the article "Budgeting Perspectives From the Real World," assess how and why budgeting adds value to an organization. Based upon your professional experience, how useful is the forecasting, strategic plan, and budgeting process to your organization? What are the reasons that make these processes useful to your organization?
By Day 3
Post a cohesive and scholarly response based on your readings and research this week.
By Day 5
Respond to at least two of your colleagues' postings in one or more of the following ways:
· Ask a probing question, substantiated with additional background information, evidence or research.
· Share an insight from having read your colleagues' postings, synthesizing the information to provide new perspectives.
· Offer and support an alternative perspective using readings from the classroom or from your own research in the Walden Library.
· Validate an idea with your own experience and additional research.
· Make a suggestion based on additional evidence drawn from readings or after synthesizing multiple postings.
· Expand on your colleagues' postings by providing additional insights or contrasting perspectives based on readings and evidence.
Field of study:
