ACTG 2300 Lecture 14: Day 14 Notes
7 Feb 2017
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Business and department levels often have input, but it goes through corporate approval steps. Be efficient/allocation of resources: not waste resources. Coordination right direction it is a waste: we can have a great strategy and work ethic, but if it isn"t aimed in the, people won"t invest if you have no plan, (cid:498)we are going to improve revenues(cid:499) Horizon: long term (usually <10 years, b/c too far in the future) Design driver: vision (want to be leader of the market) Disclosure: publicity (if no plan, cannot attract investors) Design driver: resources (driven by what we already have) Disclosure: confidentiality (cid:523)don"t want to share with competitors(cid:524) Budget committee: cross department (people from marketing, sales, strategy, etc. ) Lead role typically financial person: issuance of guidelines, to business managers, initial budget proposal, to budget committee, negotiation, approval. Process cannot start if you don"t have sales volume: first number needed is sales volume.
