Are you measuring staff and business performance on a “gut feel” and then getting frustrated that targets are not being met. Development of a business budget based around the key drivers and issues affecting your business and linking this to the overall strategy is an important component to running your business.

This budget process could include the following:

• Co-ordination of an internal budgeting process
• Consideration and identification of the key drivers of business performance
• Development of a budget model for use within the business using the key drivers that have been identified
• An operational budget that reflects the strategy of the organisation
• Ensure that the reporting system is set up to allow for effective actual versus budget reporting