Budgeting is the Essence of Good Management

(Beyond) Budgeting
Knowledge Center

 

Next Topic

(Beyond) Budgeting > Best Practices > Budgeting is the Essence of Good Management

Budgeting is the Essence of Good Management
Pedro Guedes Carvalho, Professor, Portugal, Member
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. (...) Read more? Sign up for free

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.

Sign up for free     Log in


  Annual Budgeting is a 'Must' for Any Organization
C.L. Kappagomtula, Professor, Malaysia, Member
  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.

   
Special Interest Group Leader

Are you an expert in this field? Sign up for free


(Beyond) Budgeting
Summary
Forum
Budgeting Must Be Flexible and Auditable
Add Rolling Quarterly Forecasts to Traditional Budgeting Process
🔥Rolling Forecast in Beyond Budgeting
Best Practices
🥇Weaknesses of Traditional Budgeting
🥈Financial Measure / Budgeting is no Longer Dominant
🥉Budgeting for Guidance, not for Control
'Beyond' Budgeting -- Call it Whatever, It's Necessary
Budgeting Has Become the End Instead of a Tool to an End
Budgeting is the Essence of Good Management
Budgets Should Facilitate Communication, Collaboration, Cooperation, and Coordination
Can we Use Beyond Budgeting in Entrepreneurial Companies?
What is a Budget? Definition
Budgeting in Uncertain Business Climate
Budgeting Must Be Integrated in Strategic Process
Why Budgeting and Sound Financial Practices are Crucial
Lump Sum Budgeting with a Cushion


(Beyond) Budgeting
Knowledge Center

 

Next Topic



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2020 12manage - The Executive Fast Track. V15.5 - Last updated: 8-7-2020. All names of their owners.