Budgeting is the Essence of Good Management

(Beyond) Budgeting
Knowledge Center

Forum

New Topic

Pedro Guedes Carvalho
Professor, Portugal

Budgeting is the Essence of Good Management

25 years ago I ran a public school knowing I had a certain amount for 1 year. If there was some money left, I could use it the next year with the constraint I should use it just for investment. Actually the money was delivered monthly.

Today it is delivered in 4 trimesters, and the remaining money (if any) goes back to the central administration.
To me annual budget is a useful guideline for planning and a tool coming from basic economics: how much resources do we have to achieve our goals: the essence of good management.

  C.L. Kappagomtula
Professor, Malaysia
 

Annual Budgeting is a 'Must' for Any Organization

One must understand, that any traditional budgeting is only like a navigational aid, and helps in staying on course without going astray.
All the weaknesses of traditional budgeting pointed out are the contraints, that one has to deftly / cleverly wade through to stay on course. Organizations surely needs to plan their financial flows through the 'tool' of a well forecasted, articulated, and planned budgeting processes.

Start a new topic

 

More on (Beyond) Budgeting:
Summary
Special Interest Group

Do you have a keen interest in (Beyond) Budgeting? Become our SIG Leader

(Beyond) Budgeting
Knowledge Center



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2022 12manage - The Executive Fast Track. V15.8 - Last updated: 22-1-2022. All names of their owners.