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Budgeting: How to Smooth Shortcomings and Increase Effectiveness?


Anton Petrov
(about the author)

Petrov Anton Viktorovich – Cand. of Econ. Sci., Head of the Department, Inzhiniringovy Centr FosAgro, LLC

Published in:
Russian Journal of Entrepreneurship
– № 4 / February, 2013



Keywords: automation, budgeting, business processes, effectiveness, key performance indicators (KPI), rolling planning, strategy of a company


Citation:
Anton Petrov (2013). Budgeting: How to Smooth Shortcomings and Increase Effectiveness?. Russian Journal of Entrepreneurship, 14(4), 38-44. — url: http://bgscience.ru/com/lib/4127


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Abstract:

In the article there are presented main comments on budgeting as an instrument of business management. An action plan, allowing eliminating its disadvantages, is presented. In the author’s opinion basic elements in this approach are: integration of the budgeting strategy and key performance indicators; switch to rolling planning; automation. An effect, produced in the presence of a full system of the budgeting, is described. One of possible models of a chain of business processes of the budgeting is proposed.







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