6 steps for linking corporate strategy to the budget
The budget is similar to a car’s gearbox: it doesn’t work in isolation. A gearbox’s function is to transfer the power of an engine to a chassis so that the driver can move towards a predetermined destination. If the gearbox is designed without reference to the engine that will power it, the car won’t work and the driver won’t go anywhere. Similarly, if a budget is designed without reference to the strategies it is supposed to support and the resources available, the corporation will not move towards its desired goals.. Unfortunately, up to 60 percent of organisations do not link their corporate strategy to their budget.
Read the "6 steps for linking corporate strategy to the budget" whitepaper to get:
- The role of budgeting in perfomance management
- Best of practices in strategic and operation planning
- The process for linking strategy to the budget
- Cause-and-effect visibility and role of technology
- Why linking strategy to the budget make sense
