Question: Consider the internal and external factors listed below and explain how they impact upon budget development? Growth or decline in economic conditions Human resources requirements

Consider the internal and external factors listed below and explain how they impact upon budget development?

  1. Growth or decline in economic conditions
  2. Human resources requirements
  3. New legislation or regulation
  4. Shifts in market trend
  5. Supplier availability and cost

And identify the influencing source and give an example relevant to the hospitality industry.

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