Some short ranged goals must be reached within twenty four months or less. However, according to Armstrong & Kotler (2012), long term targets are efforts or initiatives that must be realised in a period of three years or more. Strategies follow on how the objectives will be achieved accordingly. The highlight of this strategy is the Action plan wherein it considers the exact actions or efforts that will be done in pursuit of the goals. A record of key performance is the balanced scorecard which results and enlists the effort exerted if it meets the standard being set. Evaluation of financials allow managers to compare previous data to utilise in forecasting future expenses or cost in the plan as per David (2009). How plans were employed as appropriate techniques in solving…
However, the large drop in PalmKid’s contribution margin per unit combined with a decrease in the actual number of PalmPro units sold as well as a drop in the actual contribution margin per unit below budget, led to the total contribution margin being much lower than budgeted. Other factors could be discussed here––for example, it seems that the PalmKid did not achieve much success with a three digit price point––selling price was budgeted at $149 but dropped to $102. At the same time,…