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Functional Managers

Ferris Futrell (Finance Manager)

Discretionary Operating Plans 2021 (Company Use Only)

During our November 2020 planning meeting, we agreed on the following discretionary budget for 2021:

Quality Engineering: $150,000 R&D: $295,000 Marketing: $219,000 Advertising: $90,000 Lean Six Sigma: $128,000 However, since that time, each functional manager made increases in one or more areas. I have heard from you that we need to increase overall investment to successfully improve the product, the manufacturing process, and our market position. Clearly we have limited cash resources at this time, and although we have a line of credit, we must be sensitive to our cash position so that we do not exceed that credit limit.

I suggest that we revisit the planning decisions for 2021 during our next staff meeting to ensure that our spending is consistent with our competitive strategy and the availability of resources. At that time, we may wish also to continue our discussions on our resource allocation policies. For example, some of you have suggested that discretionary expenditures in your functional area should increase as our sales volume grows. We must come to agreement as to how this should be done.

Product pricing is extremely important to our fiscal strategy and corporate profitability. The market may be receptive to a higher price until demand is satisfied, but we must watch this carefully. Be aware that Stanley Sloane will not approve any price changes exceeding 20% up or down in one quarter. Control of our production costs is essential if we are to be competitive and profitable. Marketing and Manufacturing must address these topics if we are to be profitable.

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