The process of strategic budgeting may include:
A) Benchmarking against competitors' business practices.
B) Market research to determine product demand.
C) Employing new employees to meet demand.
D) Both A and B

Question

Quizplus · Accepted Answer

Strategic budgeting often involves benchmarking against competitors to understand industry standards and conducting market research to gauge product demand, both of which inform budget allocation and strategic planning. Employing new employees, while potentially a result of strategic planning, is not a process within strategic budgeting itself.

The Process of Strategic Budgeting May Include