Due to economic downturn, your company's sales projections are lower than anticipated, impacting the overall budget. How would you revise the budget to align with the new sales forecasts and ensure financial sustainability?
- Explore opportunities for diversification or new revenue streams
- Implement targeted marketing campaigns to boost sales
- Review and adjust discretionary spending
- Seek temporary financial assistance from stakeholders
By reviewing and adjusting discretionary spending, you can reallocate resources to areas that directly support revenue generation or essential operations. This proactive approach helps align the budget with revised sales forecasts, ensuring financial sustainability.
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