ABC company manufactures toy dolls. The company is launching its operations in the month of October with a goal of making as much profit as possible during the upcoming gift giving holiday season. Because of the lack of time to adequately prepare any financial forecasts or budgets, the company has decided to forgo using any estimates for costs and will instead wait until after the holiday season to evaluate whether it was successful in its goal of maximizing its profits. Required: Provide 3 reasons why this approach may be flawed. You must provide clear reasoning for your responses in order to earn points.

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Any new plan pertaining a business event had to be launched only after a detailed evaluation of mark... View the full answer