corporate performance management

Are you managing your budget or is the budget managing you?

When was getting established as a young adult, and I purchased my first apartment, I set up a household budget. Each month I thoroughly monitored expenditures and balance. Some months I had extra expenses that were not in the budget, and I just had to overrun the budget and do what was needed.

I was managing the personal budget, and I was not managed by the personal budget. I question to what extent this is also the case for businesses? I see that many strict, budget-focused companies are tied to their budgets and plans. So my question to them is, “Are you managing the budget, or is the budget managing you?”

By,

Tor Inge Vasshus

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