Your firm’s budget should be about priorities, people, and numbers – in that order. Yet, most planning processes ignore these priorities. An honest and reality-based budget requires discipline and should serve as a control mechanism, so that your firm does not spend more than it will take in. A realistic budget system helps executives monitor the pulse of their organization in real-time.
In this practical webinar, you will learn how to build a realistic and honest budget, so that your planning process is more strategic, allowing flexibility in your budgeting process.
Upon course completion, you will be able to:
- Recognize the evidence that a budget war may exist within your organization
- Redefine the budget from a “To-Do List” item to a definition of your firm’s potential
- Inventory your own budgeting process to see if the four critical components exist and evaluate if they are working
- Detect the elements of planning that are missing and prescribe solutions to the inherent weaknesses
- Develop ways to diminish the Turf Wars™ that occur in the budgeting process
Program Level: Intermediate
Field of Study: Finance – Technical