Identifying Management Systems For Success

Budgeting vs. Estimating vs. Don’t Spend for it if You Don’t Need it

A License to Spend

When oversight management has a little or no confidence in management, then a natural requirement is to require a business budget. The problem is, budgets many times automatically become license and authority to spend, spend, spend. The budget perceived oversight controls many times leads to over spending and many times accumulate into bottom line losses.

Taught to Manage to a Budget

I am quite certain almost all accounting education curriculums include classes on how to set and manage to a budget. It is doubtful if Masters in Business Administration (MBA) graduates will recognize the business procedures that I have been taught and used here at EFCO in my 50-plus years associated with business. This business process is very simple,“Don’t spend for it if you don’t need it.”