Sample Financial Planning of Toyota Paper
Financial Planning starts at the top of the organization with strategic planning. Since strategic decisions have financial implications, you must start your budgeting process within the strategic planning process. Failure to link and connect budgeting with strategic planning can result in budgets that are “dead on arrival.”
Toyota Motor Company has been substantially successful in terms of implementing control procedures within the organization which has pervaded through the fabric of the organization and even supplemented development of new techniques.
The main harbinger of this has been vehement reliance on a good control environment within the company. This is expressed by an aura of motivation and the need to excel in work as well as in personal life, and to strive for achievement. It has not only resulted in good controls based mostly on personal responsibility but has translated into great new techniques like the Just-in-Time inventory management system pioneered by the company.
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