strategy
Establishing budgetary planning
Synonyms:
Improving integration of planning and budgetingProgramming budgets
Producing budgets
Budgeting
Implementation:
An organizational budget is a plan covering all phases of operations for a definite period in the future. It is a formal expression of policies, plans, objectives, and goals laid down in advance by management for the organization as a whole and for each subdivision thereof. Budgets serve a multiplicity of purposes including: forcing managers to direct attention to the formulation of the objectives and goals sought; coordinating operations through the manner in which budgets for different functions are integrated into a comprehensive budget; and setting standards against which actions can be measured.Budgeting not only facilitates but forces integration of functional elements in both the development of plans and in carrying them out. Budgets force managers to concentrate on quantifying ends to be achieved. They can be used as a vehicle for widespread participation among people in the planning process, thereby promoting better understanding and motivation for achievement, and bridging the gap between strategic planning and current actions.
Broader:
ImprovingEnsuring competent financial managementAdopting planning approaches serving multiple goals Narrower:
Setting national budgetsReforming budgetary practicesPrioritizing community's budgetRelieving domestic food budgetsTraining individual family budgetingTraining individual family budgeting Facilitated by:
Learning practical budgeting approaches Problems:
Over-programmingValues:
Integration Organizations:
Les collections africaines en Europe Subjects:
Commerce → FinanceCommerce → Accounting
Industry → Production
Management → Planning
Development → Reform
Principles → Values
Type Classification:
C: Cross-sectoral strategies Related UN Sustainable Development Goals:
