Budgeting
Process of creating budgets; planning financial resources.
Real World
When Dyson launched its cordless vacuum range, budgeting across R&D, manufacturing, and marketing ensured each department knew its spending ceiling before a single unit was produced.
Exam Focus
For 'evaluate budgeting' questions, weigh a benefit (motivation/control) against a limitation (inflexibility/inaccurate forecasts) for top-band marks.
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