B Chapter 24 - B Chapter 24 Strategic Planning and...

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B Chapter 24 Strategic Planning and Budgeting Strategy Implementation : Process of identifying, evaluating, and deciding on organization’s strategies Strategic Planning is the first step: Process of deciding on the programs the organization will undertake to implement its strategies and on the approximate amount of resources to be allocated to each program Zero-Base Review (process analysis/process reengineering/activity ban=sed management): Each year the budgeting process starts from zero, rather
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than starting with the current level and making changes to this level Zero-Based Review of Expense Center : Should this activity be continued? Is too much being done? Too little? Should it be done internally, or should it be contracted to an outside firm (outsourced)> Is there a more efficient way of obtaining the desired results? How much should it cost? Benefit-Cost Analysis
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Budgeting: Planning-outcome of planning process is budget Communication-must communicate
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