Question

When participating in fiscal planning, a leader should perform what role?

Answer 1

When participating in fiscal planning, a leader should perform the role of being visionary in identifying short- and long-term unit fiscal needs.

What is fiscal planning?

This is the financial planning of an organization which involves income and expenditure at a particular time.

A good leader should be able to identify both short and long term needs of an organization in order to make a choice of satisfying important and urgent needs at a time.

The needs can be arranged according to the scale of preference and a choice is made to determine opportunity cost.

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