Budgeting Must Be Integrated in Strategic Process

How to Integrate Budgeting in the Strategy Process
Catherine Palin-Brinkworth, Business Consultant, Australia
We need to establish initial traditional budgets at the outset of any new major projects or organisational start-ups, large or small. This is a baseline only. From then on, the strategy and intended value proposition must rule.
So the budget becomes a working tool, revised frequently for each division, project or entity, to serve guide and support the process, not to limit it.
As a continual discipline to make sure the costs are contained, but not to limit the goal achievement.

Budgeting Must Be Integrated in Strategic Process
Darron Passlow, Business Consultant, Australia
Budgeting is the shorter term (operational) planning and importantly, monitoring process which must be integrally linked to and driven by the long term strategic planning processes. Annual (or shorter term) budget should make you consider your strategic approach more regularly (to make sure your long term focus is still relevant).
So I will continue to use my version of budgeting to keep my businesses on track.

Budgeting Helps to Tests the Strategy
Mackinnon, Entrepreneur, United Kingdom
Strategy is an idea, a theory for competitive advantage. Budgeting is part of testing that theory.
A variation from budget may or may not require adapting the strategy. Integrating strategies with budgets is essential to evaluate the former by the latter as short-term evaluation/observation is needed to assess long-term predictions (which by definition are based on theory).