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This? ?3? ?page paper outlines how such things as infrastructure,? ?government regulations,? ?and political stability can influence budge forecasting.? ?Bibliography lists? ?4? ?sources.
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3 pages (~225 words per page)
File: AM2_PPfinanBdgtFrcst.rtf
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environmental variable. The intent of this paper is to address how these three specific factors, however, can influence a budget forecast. The first environmental factor that will be reviewed
in regard to forecasts is government regulations. The importance of government regulations can be seen just by looking at one category of regulations, minimum wage laws.
The federal minimum wage of $5.15 per hour was established in 1997 and obviously warrants revisiting (Dresang, 2007). Several states, of course, already have established minimum wages that are
considerably higher than the federal minimum wage. In June 2006 Wisconsin, for example, established their minimum wages at $6.50 per hour (Jones, 2006). Nineteen states in all have
minimum wages higher than the existing federal minimum wage (Dresang, 2007). Obviously, the amount that we must play our employees has a direct impact on company profitability or
lack thereof. While it is logical to pay many of our employees much higher wages, others are only justified when they can be paid lower wages. The problem
of establishing a fair wage, however, is much more complex than reaching into the air and bringing out a dollar amount. Unskilled labor, the part of the labor force
that is typically paid minimum wage, fulfills an important role in supply and demand but the wages that we pay that labor is among the more critical aspects influencing our
profitability. Another factor that has a tremendous influence on budget forecasting is political unrest. Consider, for example, the events that have unfolded in Iraq. These events have actually
paved the way for profitability for a number of entrepreneurial companies. Consider, for example, Wackenhut Inc., an American company that has played an important role in Iraq in firefighting.
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