Macroeconomic parameters in budget planning (case study telecommunications sector)

The article presents the evaluation of the effectiveness of the traditional approach to budget planning based on the classical theory of budgeting. The analysis of macro-economic parameters (US dollar exchange rate, inflation, stock prices indices) was used to demonstrate the influence of the macroeconomic environment on company's activities. Several cases for telecommunication operators are given. Based on the ineffectiveness of the classical theory, the article puts forward a proposal for systematic analysis and monitoring of the impact of macro-economic parameters in the process of budget planning and control.