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Fundamentals of Management 7th Edition by Ricky Griffin
Edition 7ISBN: 978-1133627494Fundamentals of Management 7th Edition by Ricky Griffin
Edition 7ISBN: 978-1133627494 Exercise 12
Exercise Overview
Technical skills are necessary to understand or perform the specific kind of work that an organization does. This exercise allows you to develop the technical skills needed to construct and evaluate the effectiveness of a budget.
Exercise Background
Although corporate budgets are obviously much more complicated, the basic processes of creating a corporate budget on the one hand and a personal budget on the other share a few important features. Both, for instance, begin with estimations of inflow and outflow. In addition, both compare actual results with estimated results, and both culminate in plans for corrective action.
Exercise Task
Do you regularly use a personal budget? If yes, how is it helpful? If no, how might it be helpful?
Technical skills are necessary to understand or perform the specific kind of work that an organization does. This exercise allows you to develop the technical skills needed to construct and evaluate the effectiveness of a budget.
Exercise Background
Although corporate budgets are obviously much more complicated, the basic processes of creating a corporate budget on the one hand and a personal budget on the other share a few important features. Both, for instance, begin with estimations of inflow and outflow. In addition, both compare actual results with estimated results, and both culminate in plans for corrective action.
Exercise Task
Do you regularly use a personal budget? If yes, how is it helpful? If no, how might it be helpful?
Explanation
Verified
Verified
Yes regular use of a personal budget is ...
Fundamentals of Management 7th Edition by Ricky Griffin
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