(Management Book) Definitions 1, 5, 6

(Management Book) Definitions 1, 5, 6 - Valerie Bodden...

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Valerie Bodden Kluge (10-0014) Organization and Methods Professor Mejia -Contingency Plans: A Contingency plan is a plan devised for a specific situation when things could go wrong. Contingency plans are often devised by governments or businesses who want to be prepared for anything that could happen. -Expense Budget: Projected Money expended or cost incurred in a firm's efforts to generate revenue , representing cost of doing business . -Incremental Budgeting Approach: This approach to drawing up a budget starts with the estimated amounts for the current financial year or the provisional accounts of actual expenditure in the previous FY. Small amounts (increments) are then added or subtracted to accommodate budget increases or cuts for the coming FY. -Objectives: Mission , purpose, or standard that can be reasonably achieved within the expected timeframe and with the available resources . In general , an objective is broader in scope than a goal, and may comprise of several different goals . -Operational Plans: An operational planning is a subset of strategic work plan. It describes short- term ways of achieving milestones and explains how, or what portion of, a strategic plan will be
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This note was uploaded on 08/09/2011 for the course BUSINESS -- taught by Professor Mejia during the Spring '11 term at Universidad Iberoamericana.

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(Management Book) Definitions 1, 5, 6 - Valerie Bodden...

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