In an approximately 500, address the following issues/questions:
'I don't need a budget; I run my own business so it's all in my head. Bothering with a budget would just be a waste of time and money!'
- Do you agree or disagree with this point of view?
- Discuss the value of budgeting for organisations of all sizes and types in terms of effective resource management.
- Explain what characteristics of a budgeting system are most likely to contribute towards its successful implementation and how a lack of these might result in ethical problems.