Into the new year, most companies that have June 30 as year end will start the tortuous path of setting the new budget. I have seen the budget process take 6 months, and be as useless as a water pistol in a gunfight when it comes to delivering meaningful outcomes.
Two simple questions are often not asked:
- Why are we doing this?
- How are we going to get the outcomes satisfactory to the short term needs of stakeholders, and that also set the business up for long term commercial sustainability?
In other words, have a clear business purpose, and know what you have to do to progressively deliver on the undertakings.
