Six Steps to Improving Your Planning and Budgeting System
- Topics:
- Budgeting,
- Competitive Strategy
- Source:
- ITNetwork365
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Overview: For many organisations, planning and budgeting is an annual ritual. Once a year a letter goes out from head office describing the company's expectations, shortly followed by a budget pack to be completed by a predefined date. Once a year these packs are completed and returned, and then the annual negotiation begins in earnest. Head office wants more and the subsidiaries know this, so they have kept something back. But Head Office know they have kept something back, so are trying even harder to increase the budget. Eventually the negotiations conclude and the budget is set for the next twelve months and everyone breaths a sigh of relief and finally gets back to running the business again.
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