Find resources that confirm the importance of budgeting to organizations and answer the question below. Using your work experience think about how budgets can influence the choices made by top leaders and impact a business's long-term plans, especially in rapidly changing industries.

a. Provide one specific example or share a real-life story about a company facing difficulties because its budgeting practices didn't go as planned. b. Describe a minimum of two ways in which a personal budget is similar to a business budget. Elaborate your response.

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The Importance of Budgeting to Organizations Budgeting is a crucial management tool for organizations as it helps them plan control and make informed decisions Several resources highlight the importan... View the full answer