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Customer-Driven Budgeting by Floyd Talbot

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Chapter 4

Objectives, Performance, and Measurements

Scattershot results from not having a clear target shot. Measuring scattershot is highly difficult for taking your best shot.

Objectives

After reading this chapter, you will be able to

1.identify and create specific objectives; and

2.identify a project plan for implementing objectives and their respective revenue, capital, or expenses.

Measuring Business Performance

Objectives are a logical starting point for the budget. All components of the business come under the scrutiny of the budget as the benchmark for financial performance. In his book on the Balanced Scorecard concerning a mechanism for performance and results, Paul Nevin suggests that communication is an essential element for success. ...

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