Explain three Benefits of Budgeting and provide a real life business example for each benefit: Apple or Microsoft

1. All levels of management are required to "plan ahead" to formalize goals on a recurring basis. (40 words )
2. Provides "definite objectives" for evaluating performance at each level of responsibility. (55 words)
3. Creates an "early warning system" for potential problems, so management can make changes before problems occur.(55 words)