shed if the company is to succeed in the long run. You feel that the financial staff have the best expertise and understanding of the business to prepare effective budgets, but you are concerned about the motivational effects of excluding the lower management for the process, please give me advise. How would you suggest the company implements a financial planning culture. Be specific, include details of how and who would be part o
As the CEO of a relatively new and fast-growing start-up, you and your management team have previously emphasized technical and marketing innovation and creativity over planning and budgeting. But now with growing competition and the maturing of the company’s products, you recognized that a culture of better financial planning must be established if the company is to succeed in the long run. You feel that the financial staff have the best expertise and understanding of the business to prepare effective budgets, but you are concerned about the motivational effects of excluding the lower management for the process, please give me advise. How would you suggest the company implements a financial planning culture. Be specific, include details of how and who would be part of the budgeting process. What kinds of budgets would be developed and what systematic process would you suggest?
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