# CTE Resource Center - Verso - Marketing, Advanced Task 688273197

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Explain the nature and importance of a budget.

Definition

Explanation includes the components of a budget (e.g., sales quota, projected income, expenses, contributions) and reasons it is important to successful business operations.

Process/Skill Questions

  • Why must a budget be balanced for a business to be successful?
  • What time periods can be used when preparing budgets?
  • How does developing a budget apply to personal finance?
  • What are the consequences of an unbalanced budget at the end of a fiscal year?
  • Why is a budget important to a business?
  • How does an organization set a budget?
  • How are sales quotas set? What are the components that determine what the goal will be?

Related Standards of Learning

English

11.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts including employment documents and technical writing.
  1. Apply information from texts to clarify understanding of concepts.
  2. Read and correctly interpret an application for employment, workplace documents, or an application for college admission.
  3. Analyze technical writing for clarity.
  4. Paraphrase and synthesize ideas within and between texts.
  5. Draw conclusions and make inferences on explicit and implied information using textual support.
  6. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  7. Analyze false premises, claims, counterclaims, and other evidence in persuasive writing.
  8. Recognize and analyze use of ambiguity, contradiction, paradox, irony, sarcasm, overstatement, and understatement in text.
  9. Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical thinking questions about the text(s).

12.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts.
  1. Use critical thinking to generate and respond logically to literal, inferential, and evaluative questions about the text(s).
  2. Identify and synthesize resources to make decisions, complete tasks, and solve specific problems.
  3. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  4. Recognize and analyze use of ambiguity, contradiction, paradox, irony, overstatement, and understatement in text.
  5. Analyze false premises claims, counterclaims, and other evidence in persuasive writing.

Other Related Standards

National MBAResearch Standards-Business Administration

Control an organization's/department's activities to encourage growth and development.

 

Implement expense-control strategies to enhance a business's financial well-being.

 

Manage financial resources to ensure solvency.

 

Utilize planning tools to guide organization's/department's activities.