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Transcript of Budgeting
Is it something the company needs or wants?
Is it cheaper from another supplier?
Is there something similar that can be used instead?
Is there a better way of spending that money?
How can companies budget their money to buy the things they want and need?
Review Defined wants and needs
Discussed the importance of differentiating the 2
Looked at and created personal budgets
Identified the steps in decision making
$15 to start a lemonade stand
Only concerned with buying materials to set-up
Need to be able to justify purchasing decsions Budgeting
Lemons Lemonade Mix Sugar Umbrella Decorations Little Brother Advertising (Flyers) Cups Wooden Sign Table Step 1:
Get into your groups and
review the worksheet Step 2:
As a group, complete
the budget sheet, including the rationale portion Step 3:
Go to the fictional store
and buy the materials Step 4:
Create a visual with
the materials to aid your
presentation Step 5:
Present your decisions
to your peers Business studies start in year 6
Part of a bigger lesson
Overview Remember... We're always listening to the other groups! Things to Think About... Questions? Context of the Presentation