1. Discuss the relationship between budgeting and planning. How are they related? What differences exist between the two?
2. Do you think that as a company grows its resource needs will change over time? What obvious resource needs will increase? Should the company plan ahead to acquire those resources? why so or not? Could these needs be formalized in an annual capital expenditures budget?
3. Discuss the difference between quantitative and qualitative forecasting. Does one provide a more accurate forecast than the other?