Respond to the following in a minimum of 175 words:
Organizational budgets assist businesses leaders with awareness of expenditures and managing resources. Businesses use a variety of budgets to measure their spending and develop effective strategies for maximizing their assets and revenues. Organizational budgets are generally designed to meet specific needs of the organization.
- Discuss the benefits that may be achieved by creating a business budget.
- Discuss the likely organizational problems that may arise from not creating a business budget.