Do Managers Pay Attention To Their Budgets?
Or do they simply let the "chips fall where they may"? Having well-defined budgets is an important element in becoming disciplined about making money. In some organizations, budgeting is an exercise done solely for the bank. If this is the case in your business, move quickly toward making managers accountable for their projected budget results. The budget must be based on sound assumptions and reasoning to make this work effectively. If it isn't, it is difficult to manage to.