Page 199 - Budgeting for Managers

Budgeting for Managers
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need to oversee departmental budgets, save money, and
increase productivity.
Strategic planning meeting. A meeting with senior manage-
ment based on a prepared agenda. We will identify the compa-
ny’s strengths and weaknesses and also the opportunities and
threats the company faces due to technological change and
competition in the marketplace.
Preparation of agenda. Six hours of telephone meetings and
preparatory work for the consulting services.
Report and recommendations. A complete, written report of all
issues, decisions, and recommendations based on the strategic
planning meeting.
Travel arrangements will be made by the client.
This proposal would include Table 11-2. Note how each line
in the proposal matches a line in the budget and how the budg-
et presents the bid proposal cost to be paid to the vendor
($17,400) as well as the total cost, including expenses handled
directly by the customer ($19,350). Over the years, I have
found that clients deeply appreciate this straightforward
approach with no hidden costs.
Manager’s Checklist for Chapter 11

❏ Have you ever thought that starting your own business
would be easy? Does this book make you rethink that?
❏ Could you start your business without risking your person-
al income or savings?
❏ Do you have a plan for your business?
❏ Think about three people you know who could read your
plan and help make it better.
❏ Can you think of an example where someone believed his
or her own marketing hype? What happened?
❏ Does your business have seasonal fluctuations? If so,
where do you get money to handle the slow periods?