Budgeting Must Be Integrated in Strategic Process

(Beyond) Budgeting
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(Beyond) Budgeting > Best Practices > Budgeting Must Be Integrated in Strategic Process

Budgeting Must Be Integrated in Strategic Process
Satya Narayan, Strategy Consultant, India, Member
Budgeting is not an independent process. It has to be integrated and follows from strategic planning process. Every corporate should have a vision and long term goals. Strategies are to be developed to achieve such goals. Intermediate goals have to be set to achieve long term goals. This entire strategic planning process has to be reviewed periodically and changes if required have to be incorporated. Entire entity have to be mapped to an influence diagram and develop what if scenarios with strategies reviewed/developed with alternative to achieve goals if faced with new scenarios in view of changing environment, organizations strengths and weaknesses. If need be rolling budgets may be developed. (...) Read more? Sign up for free

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  How to Integrate Budgeting in the Strategy Process
Catherine Palin-Brinkworth, Business Consultant, Australia, Member
  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, Member
  (...)

  Budgeting Helps to Tests the Strategy
Mackinnon, Entrepreneur, United Kingdom, Member
  (...)

   
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(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


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