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Budget Management Best Practice 1 – Line Item Awareness

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Budget Management Line Item AwarenessThe primary organizational responsibility of every executive and manager is the diligent management of resources. This oversight is clearly expressed through the effective management of an executive or manager’s assigned budget.
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Business Survival in a Recession

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It’s no secret that America is facing some hard economic times. What does this mean for business owners? It means a variety of things such as cutting spending in the right areas, maintaining an advertising budget, keeping an eye on the original goal and retention marketing. Each one plays a major role in recession business survival, but they become of utmost importance during a slow economy.

Cut spending in the right areas

Cutting spending is an immediate reaction to recessionary talk and fallout; it’s only natural and logical to get rid of that which you don’t need to stay afloat. But any cuts you make now need to be good for the short and the long term. A business needs to think long and hard before slashing spending in areas that may affect future business operations such as product/service quality and standards, customer service and advertising.

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About the Author

Emmy Bill is the Owner of E-Learn About and an accomplished writer and Search Engine Optimization Specialist. Find more articles on finance as well as a variety of other topics at E-Learn About on the web at http://e-learnabout.com.