Most of the UK’s budgetary control systems were introduced in an environment where the predominant management style was command and compliance. This was the era of the once-a-year, for-a-year budget and proved a compatible approach. However, as the rate of change in the business environment has increased, this type of budgeting is seen as dangerously misleading. This course looks at an alternative method of budget control, designed to adapt to volatility and to match the new trust and commit style of financial management.
On completion of this online course, you will gain an understanding of:
- the major trends in the business environment and the impact they are having on management in general, and financial management in particular
- how to embrace the making and monitoring of decisions by estabilshing a structure of control
- promoting a forward looking approach to financial management
- influencing behaviour, for example clarifying cultures and values and team-building
- providing a structure through which to delegate/devolve authority in a way which ensures co-ordination, e.g. the balance of capacity and demand.