Unit 2 Review: 9-16

Zero Based Budget
1. method of budgeting
2. all expenses must be justified for each new period
Planning Tools/Techniques
1. Contingency Planning
  1. identifies alternative courses of action for when things go wrong
    1. ex. snow on mountain melted at Vancouver Olympics so used straw to make ski slopes
2. Scenario Planning
  1. identifies alternative future scenarios and plans to deal with each one
    1. ex. what will happen after the oil supply runs out?
3. Benchmarking
  1. uses external/internal comparisons to plan for future improvements
    1. external: other organizations' triumphs
    2. ex. Zara: clothing items are scarce in numbers. Buy now because clothing will not be replaced/come back
4. Forecasting
  1. process of predicting future events
    1. qualitative
    2. quantitative
Participatory Planning
1. includes people who will be affected by plan and those who implement them
2. motivate and benefits those involved in process

Resource summary

	Created by kajal_kacy almost 9 years ago