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Budgeting is a technical process, a person who is making a budget must be experience and well visionary person to the process he is making the budget.
Making a budget must have the following areas t be consider
1) target market
2) target share from market
3) total RIO
4) market trends and
5) the investment of the budget
the budget technique for the commercial and public organizations are different
the public sector always makes the expenses first then go for return, while private first estimate the earnings and then go for budgeting. if this process is altered then there will be a disaster in the organizations and most of the organizations who failed to meet the expenses have this former type of budgeting.
as per my opinion, the budgeting for an organization must be done by a team where marketing, finance, and administration personnel must meet to a specific target for growth and output.
