BUDGETING - AN EFFECTIVE MANAGEMENT TOOL FOR REALIZATION OF THE STRATEGIC GOALS OF THE COMPANY

Author: Assoc. Prof. Galina Kurteva, PhD (Burgas Free University)

Keywords: budgeting, strategic planning, strategic goals

The dynamic business environment, the unpredictable behavior of competitors and customers, as well as the demand for successful competitive position on the market require effective company management. This cannot be achieved without complete strategic and operational planning, analysis, control and regulation of the use of the company resources. Appropriate instrument for company's resource allocation in accordance with the strategic plan is the budget planning and control. Its application allows quantifying connection of the strategic objectives of the company with the operational plans and indicators.

The article emphasizes the importance of budgeting in the process of strategic planning.

Bulgarian Download Bulgariаn

More articles

STRATEGIC MARKETING. BETWEEN PERCEPTION AND REALITY

Marketing as a business function is a complex system, i.e. he is neither single action or single action undertaken construction…

DEVELOPMENT AND ACHIEVEMENTS OF MARKETING SCIENCE WITHIN THE PERIOD 1920-1930

The paper investigates the evolution of marketing science within the period 1920-1930. It is a continuation of author's…

BANK CUSTOMERS' SEGMENTATION: PROBLEMS AND MARKETING SOLUTIONS

Market segmentation provides bank managers capabilities to develop appropriate strategies based on a thorough understanding…