Development should include forecasting
- sales
- income
- expenses for short-term and long-term goal achievement.
Process/Skill Questions:
- What is a balanced budget? Why must a budget be balanced for a business to be successful?
- What is the importance of a budget?
- What are the steps involved in creating a budget?
- Who within an entrepreneurial venture would be a resource to assist in the development of a budget?
- What are software tools might be used in developing a budget?
- What are the consequences of not developing a budget?
- What is revenue leakage?
- How does an organization set a budget?
- How does a business decide which method(s) of market research to use?
- What careers are related to market research?