Advantages of Budgeting

Review the following incomplete statements regarding the advantages of budgeting.

a. The budgeting process forces management to focus on the _______ and not be distracted by daily crises in the organization.

b. The budgeting process can define specific _____ and objectives that can become _____, or standards of performance, for evaluating future performance.

c. The budgeting process forces ____ throughout the organization.

d. The budgeting process can increase the coordination of organizational activites and help facilitate goal ________.

e. The budgeting process can help management identify and deal with potential _____ or constraints before they become major problems.

Required: Complete each of the preceding incomplete statements with the correct term or terms from the following list: bottlenecks, communication, future, goals, congruence, benchmarks.