Budgets help managers assess strategic risks and opportunities (including both environmental and social opportunities)by providing them with feedback about the likely effects of their strategies and plans.

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Budgets provide managers with a concrete way to evaluate the potential outcomes of their strategic decisions and plans, which can include considering both environmental and social opportunities and risks. By understanding how their budgeted resources will be allocated and used, managers can make informed choices that align with their goals and objectives.

Budgets Help Managers Assess Strategic Risks and Opportunities (Including Both