Tools of Budgeting and Strategic Planning
Guidelines:
- Identify different types of tools used by businesses to plan their activities such as Budgeting, Pricing, Costing and Strategic Planning
- Explain the different types of budgets – capital and operating
- Examine alternative methods of budgeting
- Discuss the behavioural implications of budgeting
- Identify the various pricing strategies used by businesses
- Explain the impact of demand and supply and competition on pricing strategies
- Examine the different types of costing systems used
- For the selected business, apply PESTLE, SWOT and Porter’s Five Force Models
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