Background: If you want to understand what an organization truly values, look to see how they budget their resources. In no other manner are our priorities laid out so bare for all to see than an analysis of how we budget. This is because a budget represents how an organization aligns its resources with its values and strategic plan. As a leader, budgeting is a core function of utilizing financial information to prioritize resources and execute a strategic plan.
Post: This discussion is designed to help you identify the planning processes used by an organization to budget its resources. Pretend you are presenting to your work peers the strengths and weaknesses of the budget planning process used at your selected organization.
Based on your knowledge of the higher-ed organization where you may be employed or the Omega College Case Study, along with the course readings, create a 2-3 minute video of yourself addressing the following:
-Identify and define 2-3 critical planning steps an organization uses in its budgeting process.
-Based on the concepts presented in this week’s readings and video, identify 2-3 strengths of the budgeting process used at an organization. Identify a weakness.
-What recommendations for an organization can you make based on this analysis, especially within the context of the budgeting process as presented in our readings?
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