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Is important for a company to follow a strict budget

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Reference no: EM132954648

Problem 1: Is it important for a company to follow a strict budget even though they may be experiencing phenomenal profits? Do you think that there will be a bias towards greed when creating the budget for this company? Explain.

Problem 2: How does management greed influence budget decisions?

  • Please consider each of the questions separately in this post. It is important for you to understand the value of the budget as a blueprint for the business - even in times of exceptional "good news".
  • It is also important to consider the role of greed within the budgeting process of the firm. Perhaps you might want to think about the budget as a communication to employees about what ownership and management believes is its focus.
  • You might even want to see if any other of the exceptional "bad boys" in the business world were reflecting their greed even within their budgeting documents.

 

Reference no: EM132954648

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