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Business Portfolio: Budget

So far, we have discussed the following parts of our "Business Portfolio":

1. Organizational Chart
2. Putting your business into words
3. Mission Statement
4. Logo/Emblem

Today, let's introduce a new part of the portfolio called a BUDGET:

• A budget is generally a list of all planned expenses and revenues. It is a plan for saving and spending. In other terms, a budget is an organizational plan stated in monetary terms.

  In summary, the purpose of budgeting is to:

• Provide a forecast of revenues and expenditures i.e. construct a model of how our business might perform financially speaking if certain strategies, events and plans are carried out.
• Enable the actual financial operation of the business to be measured against the forecast.

Assignments Are Due!

Let's start class with a WPM pre-test!
7th Graders:

• New Typing Pal Lessons are due Thursday.
• NY Times summary is due Wednesday.

6th Graders:

• New Typing Pal Lessons are due Friday.
  
• NY Times summary is due Thursday.

Business Portfolio: Mission Statement

MISSION STATEMENT: A formal, short, written statement of the purpose of a company or organization. The mission statement should guide the actions of the organization, spell out its overall goal, provide a sense of direction, and guide decision-making. It provides "the framework or context within which the company's strategies are formulated."

BUSINESS LOGO: A logo is a graphic mark or emblem commonly used by businesses, organizations, or even individuals to aid and promote instant public recognition. Logos are either purely graphic (symbols/icons) or are composed of the name of the organization (a logotype or wordmark).