Explanation should include managing
- expenses
- revenue
- productivity
- operations
- personnel
- travel.
Process/Skill Questions:
- What are the elements of a good budget?
- Why are budgeting skills important in management?
- How can expense control increase productivity?
- What types of operations and personnel may be involved in expense control?
- How can labor costs be controlled?
- What are the consequences of failing to meet budgeted sales goals?
- What is the most important aspect of controlling a budget? What is the least important?
- How should one prioritize budget items when all aspects are interrelated?