Preparing and Managing Effective Financial Planning Budgets

Why Attend

An organization's quest to obtain financing at the lowest possible cost and under the best possible terms can only be crowned with success by planning its financial needs in advance, and within a sufficient period of time to allow for fruitful negotiations with funding providers. Conversely, financial difficulties become more serious when the organization's management is suddenly faced with an urgent need for funds without anticipating this need. Strategic planning is one of the most important functions of modern management, involving an intensive search by the organization's management for opportunities to create a competitive advantage for the organization in the market. This involves identifying the organization's long-term directions, defining the unit's field of activity and the market in which it sells, identifying available and potential resources, identifying competitors' trends and ways to address them, identifying the organization's strengths, weaknesses, and long-term goals, and developing the strategies and plans required to achieve these goals. Key performance indicators (KPIs) help an organization define and measure its progress toward its strategic objectives by measuring the effectiveness of strategic plans. When an organization defines and analyzes its objectives, it needs a way to measure its progress toward these objectives. KPIs are means of measuring performance or progress toward operational objectives, as well as what is not. The description is also used as a measure for rewarding employees.