CM MT

-        used as basis for busdget estimates

(a)  

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

(a)  

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

(a)  

-        Act of preparing budget

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

(a)  

use of budgets to control firm’s activities

(a)  

-        Path it used to attain LT goals & mission

-        Starting point of preparing plans & budgets

(a)  

examining these would help identify opportunities, limitations, & thraeats

this includes -        Competition

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

(a)  

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

this factors includes -        Financial strength

-        Managerial talent & expertise

-        Functional structure

-        Organizational culture

(a)  

Strategy provides framework or parameter which (a)   is developed

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

(a)