Google is a prime example of a company that has successfully used the 70-20-10 budget allocation framework. They allocate 70% of their resources to core business tasks, 20% to projects related to the core business and 10% to projects unrelated to their core business. This approach has allowed Google to innovate and diversify their product offerings while maintaining a strong focus on their core business.

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The 70-20-10 budget allocation framework impacts the risk and innovation balance in a company's operations by ensuring a diversified investment strategy. It allocates 70% of the budget to stable, well-established ventures, reducing risk. 20% is allocated to promising prospects with moderate uncertainty, providing a balance between risk and reward. The remaining 10% is invested in high-risk, high-reward speculative projects, fostering innovation and potentially redefining the company's future.

There are several alternative strategies to the 70-20-10 budget allocation framework. One such strategy is the Zero-Based Budgeting (ZBB) where every department function starts from a zero base and every function within an organization is analyzed for its needs and costs. Another strategy is the Activity-Based Budgeting (ABB) which is based on the outputs of activities. There's also the Value Proposition Budgeting which focuses on funding what provides the most value to the company. Lastly, there's the Rolling Budgets strategy where the budget is continuously updated to add a new budget period as the most recent budget period is completed.

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Budget Proposal

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