Why budgeting is essential for a business: It's not a waste of time; don't neglect this tool for gaining valuable insights

摘要

Any managers of businesses view budgeting as a waste of time. To them, budgeting is only as accurate as their ability to accurately predict the factors that will affect their companies in the future. Who knows what the future might bring? If managers could predict the future, they would give up their service businesses to trade in the stock markets. Yet, on the other hand, many of the same managers complain that they don't know how their businesses are doing. The financial statements at the end of the month often come as an unpleasant surprise. They feel out of control of their own destiny. The right information seems to be lacking.