CEO, Worthington Industries (WOR) (a high-technology steel company) slogan : “We try to find the best technology, stay ahead of the competition, and serve the customer...We’ll make any investment that will pay back quickly...but if it is something that we really see as a must down the road, payback is not going to be that important.”

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.