Patent ID: 7930195
Filing Date: 2011-04-19
Classification: G06Q

Abstract:
1. A method of obtaining increased value and utility from a budgeting process employed within a business organization, comprising: selecting a first set of value-adding targets for the business organization obtained from external research of comparison companies within a same industry as the business organization, including: selecting a second set of value-adding targets for the business organization obtained from an internal evaluation of business opportunities and value drivers existent within the organization, including: evaluating the first set of value-adding targets and the second set of value-adding targets, including: preselecting targets from among the first and second sets of value-adding targets based on a multivariable approach incorporating at least shareholder value and the difficulty; selecting organizational targets by the high level management from among the preselected value-adding targets; communicating the selected organizational targets downward to persons through the organizational hierarchy; adjusting budgetary priorities within a budget of the business organization as a result of the selected organizational targets; performing bottom-up budgeting and cyclical forecasting to implement the selected organizational targets within the budget of the organization, including the steps of: employing the populated budgets throughout the organizational hierarchy, thereby allocating money to specified expenditures and projects; measuring performance of the organization in accordance with the selected organizational targets; and revising the organizational targets in response to the measured performance and repeating budgetary planning steps within the business organization with implementation of the revised organizational targets.