While a company’s budget is one of its major forward-looking documents, it’s only one of many plans that coexist across business units. Within any department, then, there may be dozens of plans and forecasts, and they’re usually kept on desktop spreadsheets that don’t match up with one another. Our research finds that the connections between these various forward-looking activities are limited. Although companies are not completely uncoordinated, gaps routinely occur. (“Manufacturing never knows what promotions marketing is planning until it’s too late” is one common complaint.) The impacts rarely are disastrous, but the lapses create wasteful costs and diminish effectiveness.
Content: Article
Author: Robert Kugel
Source: “Business Finance Magazine”
Subjects: Finance, Management
Author: Robert Kugel
Source: “Business Finance Magazine”
Subjects: Finance, Management
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