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Posts Tagged ‘Budget Allocation’

Can I have more money?

"However beautiful the strategy, you should occasionally look at the results"...WCPrint Print

If you have kids, you will understand the anxiety most parents get when the kids are constantly asking for money. And usually it is for all sorts of justifiable things that come up out of the blue. When the semester begins, when school excursions get scheduled,  for extra pocket money and so on it goes. Yet somehow you manage to get through it.

For companies, like kids, we run a budget.  But unlike kids, companies assign responsibility to managers to plan resources to deliver services demanded to meet the business plan. This money allocation process is called Budgeting and takes a serious amount of time in many organizations as they sort out the priorities.

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Looking into how good ones do it, we find once business plans are  set , budgeting is about figuring out what resources you need meet it.

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