Define Top-Down and Bottom-Up Budgeting

question 33

Essay

Define top-down and bottom-up budgeting.

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Definitions:

Organizational Goals

The strategic objectives that an organization aims to achieve, which guide its operations and decision-making processes.

Stakeholders

Individuals or groups that have an interest, claim, or stake in a company, and can affect or be affected by the business.

Dynamic Communication

Communication practices characterized by adaptability, interactivity, and responsiveness to changing contexts or audiences.

Organizational Stake

An interest or share in an undertaking or organization, typically referring to how various stakeholders can affect or be affected by the organization's activities and policies.