As the year’s end approaches, Ximena Jimenez shares a timely post on how to transform the year-end budgeting process into an additional opportunity.
Year end is, undoubtedly, the moment which most of us choose to reflect on the past and think about the future.
I do not know why, but it seems we need a milestone, a ritual, to stop, observe, analyse and reflect on what we did and what we left undone in the year that we are leaving behind, the achievements we made, those which we are yet to achieve, the triumphs, the defeats, what we learnt and what is left to be learnt…
And along with these observations it comes the setting of goals, the creation of plans and the time to commit. And in this way, we put our hopes into the new year which we will generally start out with energy, enthusiasm and optimist.
I wonder why year end is not similar inside the companies…
Of course there are exceptions to the rule, but in the vast majority of cases I have seen, lived, watched and accompanied (as a business consultant or Board member), year-end is a time of the year that is packed with stress, tension and almost entirely focused on closing the budget exercise for the upcoming year. Unfortunately, in the mainstream of the cases, it is the one and only milestone or ritual that is used to evaluate the previous term and plan for the future.
Key points include:
- Overlooking the context
- Looking at the entire pathway
- An entire organisation thought process
Read the full article, Year-end and Strategic Remarks, on LinkedIn.