As an Amazon Associate I earn from qualifying purchases.

Budget Definition and Explanation PDF | Download eBooks

Learn Budget definition in strategic management with explanation to study “What is Budget”. Study budget explanation with strategic management terms to review strategic management course for online MBA programs.

Budget Definition:

  • A numerical plan for allocating resources to specific activities.

    Management by Stephen P. Robbins, Mary A. Coulter



Budget Explanation:

A spending limit is a budgetary arrangement for a characterized period, regularly one year. It might likewise incorporate arranged deals volumes and incomes, asset amounts, expenses and costs, resources, liabilities and money streams. Organizations, governments, families and different associations use it to express vital plans of exercises or occasions in quantifiable terms. A spending limit is the entirety of cash apportioned for a specific reason and the outline of expected consumption's alongside recommendations for how to meet them. It might incorporate a spending excess, giving cash to use at a future time, or a shortfall where costs surpass pay. A spending limit is a significant idea in microeconomics, which uses a spending line to represent the exchange offs between at least two products. In different terms, a financial limit is an authoritative arrangement expressed in money related terms.

Keep Learning Strategic Management Explanations

What is Competitive Advantage?

Upper hands are conditions that enable an organization or nation to deliver a decent or administration of equivalent incentive at ...

What are Physiological Needs?

Physiological needs are the basic necessities for human survival. Human body can'T get by without gathering these necessities. These prerequisites ...

What is Management Information System (MIS)?

An administration data framework (MIS) is a PC framework comprising of equipment and programming that fills in as the foundation ...

What is Matrix Structure?

The framework matrix structure is a blend of at least two kinds of hierarchical structures. The network association is the ...

What is Boundaryless Organization?

Boundryless structures have characterized vertical and level fringes and chains of importance, boundaryless associations are characterized explicitly by an absence ...

What are Core Competencies?

Core skills are the assets as well as key focal points of a business, including the mix of pooled information ...