Budgets should flow from strategy, not constrain it. The pressures on budgetary control should be seen in the context of the trends affecting management generally, e.g. the greater emphasis on strategy, customers, devolution, co-operation and intangibles. It recognises the importance of things that cannot be measured.
Dynamic Budgetary Control ensures that opportunities for enhancing the long-term value of your business are considered properly and not evaluated on their short-term impact.
On completion of this course, you 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 establish a structure of control in order to embrace the making and monitoring of decisions
- how to promote a forward looking approach to financial management
- how to influence behaviour, for example team building and clarifying cultures and values
- how to provide a structure through which to delegate/devolve authority in a way which ensures co-ordination, e.g. the balance of capacity and demand