budget-planning

Vocabulary Word

Definition

'Budget-planning' is a thoughtful way of spending. You plan what amount to spend on what thing, like planning for groceries, rent, or vacation. It helps you use money responsibly.

Examples in Different Contexts

In corporate strategy, 'budget planning' is the process of creating a financial blueprint for the upcoming fiscal period. A strategist might outline, 'Budget planning is critical for aligning our financial resources with our strategic goals and priorities.'

Practice Scenarios

Business

Scenario:

We're entering the next quarter with some aggressive sales targets. It appears we'll need to make some adjustments to our resource allocation.

Response:

Our budget-planning blueprint indeed needs a change. Let's focus more on sales and marketing.

Marketing

Scenario:

We're experiencing an industry-wide shift towards digital marketing. It's time we revisit our financial plans to accommodate this change.

Response:

It's worth exploring. Let's make necessary changes in our budget-planning to boost our digital marketing initiatives.