budget

  

Definition

An estimate of costs, revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals.

One of the most important administrative tools, a budget serves also as a (1) plan of action for achieving quantified objectives, (2) standard for measuring performance, and (3) device for coping with foreseeable adverse situations.

Business Tips

One Suggestion for Entrepreneurs Operating on Low Budgets

Because entrepreneurs typically operate on a shoestring budget, they must learn to benefit from resources that they don't directly control. This is done primarily by outsourcing any needs which are t ... Read more

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