In an approximately 500, address the following issues/questions: 'I don't need a budget; I run my own business so it's all in my head. Bothering with...

In an approximately 500, address the following issues/questions:

'I don't need a budget; I run my own business so it's all in my head. Bothering with a budget would just be a waste of time and money!'

• Do you agree or disagree with this point of view?
• Discuss the value of budgeting for organisations of all sizes and types in terms of effective resource management.
• Explain what characteristics of a budgeting system are most likely to contribute towards its successful implementation and how a lack of these might result in ethical problems.