CM MT

-        used as basis for busdget estimates

-        Financial plan of resources needed to carry out tasks & meet financial goals

-        Quantitative expression of goals org wish to achieve & cost of attaining goals

-        Act of preparing budget

-        Help managers identify current & potential bottleneck in ope. & use critical resources as solution for bottlenecks

use of budgets to control firm’s activities

-        Path it used to attain LT goals & mission

-        Starting point of preparing plans & budgets

examining these would help identify opportunities, limitations, & thraeats

this includes -        Competition

-        Technical, economic political, regulatory, social & environmental factors

matching strength w/ identified opportunities, resources & threats enable firm to form strategy

this factors includes -        Financial strength

-        Managerial talent & expertise

-        Functional structure

-        Organizational culture

Strategy provides framework or parameter which _____ is developed

identifies required actions for 5-10 yr period to attain goals set in strategies