Archive for the ‘Budgets’ Category


Budgeting for Standard Costs: Why Bother?

Recently I attended a conference addressing planning and budgeting. Most presenters and attendees wanted to reduce their reliance on formal budgeting processes. However, at lunch, I sat at a table with two attendees from one company. As our discussion evolved, they were worried about having to expand their budgeting processes. As this direction ran counter […]

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Forecast Accuracy: Is Forecast Variability To Blame Or To Be Exploited?

In a recent LinkedIn forum, someone posted the question: “Is forecasting a waste of time? Is it more important to be able to deal with variability than predict it?” A question of this type intends to drive strong reactions. But the question is really comparing two different things. People who like apples will make the […]

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Strategic Business Modeling: Part 2

Part 1 of Strategic Business Modeling addressed three prime reasons to strategically plan or strategically model your business: Communicating with Others; Fleshing out the Process; and Testing Results.

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Strategic Business Modeling: Part 1

It is hard to drain a swamp while you’re fighting off alligators. Often business managers are so embroiled in day to day decisions that they do not find time to step back and plan. Planning goes by many names; we’ll call it strategic business modeling because it is so essential to the business. Why plan? […]

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Budgeting: A Bad Practice With Poor Results

I just returned from Chicago and the 10th annual conference for the Beyond Budgeting Round Table or BBRT. Although I attended several earlier conferences, this one was still an interesting and valuable conference.

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