Summary
Budgeting and Planning addressing both tactical and strategic objectives is a process in which decisions are made and action plans are developed essential to the future of the organization. Planning focuses energy and keeps members of the firm working toward the same goals.
Core Strategic Planning Activities
- Identification of organizational challenges
- Setting of goals and objectives
- Assignment of these goals and objectives to individuals and/or teams
- Assistance with the development of strategies for reaching the goals assigned
Core Budgeting Activities
- Establishing short-term goals in concert with longer-term strategic plans
- Breaking down the Budgeting process into its critical components
- Establishing a plan to continually monitor progress towards the annual budget