Question:
(Tactical planning; writing) People, as well as businesses, need to budget. Assume that you and your spouse are having difficulties living within your combined incomes. Prepare a list of at least 10 recommendations on how to "do things diff erently" to help manage your finances.
(Planning; writing) High-level executives have often indicated that competitors' actions are the top external factor affecting their businesses and their business plans.
a. Why are competitors' actions so important to business planning?
b. How would competitors' actions affect a business's internal planning?
c. What other internal and external factors are key elements in a business's budgeting process?