A company does not prepare yearly budget. What is the Pros and Cons for such a company?

Pros

There is not target to achieve so enjoy

At last not data for  analysis so enjoy

Cons

Difficult to allocation of funds

Difficult to take any decision

Cons

Not proplery plans for contingency's.

High risk for allocating funds where they shouldn't be.

Pros

Less time and moiney spent on budget allocating.

Best for seasonal and highly uncertain industry.

+vesFreewheeling opportunisam,Flexibility in execution for desired results,Varitey of alternate business plans can be incorporated.

-vesEconomic benefits can not be quantified.Lack of goal orientation lack of motivation.

+it will not limit the growth of the co. up to the budget

+it is just like a ruber stamp approach because many co.s not follow budget properlly so waste of time&cost

-nobody will be ready to take any responsibility at failiur.

-target will not set so organisation achievement will be a question for employees.