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Describe the benefits to an organisation of preparing an operating budget.
Financial Stability
The condition in which an organization or individual has a strong financial foundation, characterized by solvency, adequate liquidity, and low levels of debt, enabling endurance through economic fluctuations.
Viability
The ability of a project, idea, or entity to work successfully and sustainably.
Life Cycles
The series of changes in the life of an organism or product, including birth or inception, growth, maturity, and decline or death.
Entrepreneurships
The act of creating, designing, and running new businesses, often characterized by risk-taking and innovation, in pursuit of opportunity and profit.
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