Question: Budgeting is a craft rather than a scientific activity because it requires individuals to hone a craft and different tools, (Chen, et al., 2015). In
Budgeting is a craft rather than a scientific activity because it requires individuals to hone a craft and different tools, (Chen, et al., 2015). In addition, it requires meticulous attention detail and a perseverance to understand financial trends, patterns, and behaviors, (Chen, et al., 2015). Individuals who budget invest their time and skill into their craft, in this case budgeting, to ensure they're able to use their current tools, like excel, and learn and use new tools, (Chen, et al., 2015). Where the scientific process is oftentimes precise with a definitive outcome and clear processes and procedures, budgeting requires continuous and repetitive practice and close monitoring of external factors, (Chen, et al., 2015). A scientific activity is typically linear and has a definitive outcome where budgeting is less structured and requires assumptions targeted towards a goal, (Chen, et al., 2015). While the two sound similar, budgeting is heavily dependent on external trends that are evaluated and taken into account when shaping a completed product, (Chen, et al., 2015). Whereas the scientific process includes collecting data and resources to achieve a definitive product or solution, (Chen, et al., 2015). Additionally, where the scientific method is oftentimes concrete and clearly laid out, budgeting is, at times, unstable, quick to change, and is reliant on external real-time situations, (Chen, et al., 2015). with references and in text citations
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