The economic calendar is the basic guide for organizing and planning economic activities. If you want to be effective, you have to have an economic calendar in order to keep track of what activities are important and what are not.
This economic calendar is like the head of the body of work. The purpose of the calendar is to keep track of all the economic activities in a group or organization.
The economic calendar can be used to measure progress and make decisions and observations. It can also help you determine whether an activity is worthwhile or not.
A good economic calendar is helpful in every stage of development of an organization. The common occurrence is that every manager should create a specific calendar according to his own vision. Each section of the calendar should be separately noted with the assigned mission, goals, and objectives.
Such calendar is very useful in every phase of the economic growth of an organization. It is not necessary that the calendar should be made according to every CEO, as it can be beneficial for every other manager as well.
Such economic calendar helps management to develop a definite course for the future. It allows management to plan and make decisions regarding the future of the company.
Such a calendar can be divided into two parts: the strategic and the personal calendars. In this way, the flow of the strategic activities are tracked and balanced.
The cost effectiveness of any department or agency is measured through the budget of the calendar. A reasonable balance between the working capital and the current expenditure can be planned out and checked.
The project planning, the forecasting, the decision making, the implementation and the execution are the functions that can be measured by the budget. When the budget is balanced and correct, it means that all the necessary resources are available to execute the activities as planned.
The chief objective of the calendar is to help management by setting the priorities and determining the financial decisions. This is done by grouping the activities into logical groups according to their significance.
In this way, the personal calendar is not changed, but it’s the way of managing the organization which is changed. Thus, to make a proper plan for the future, each manager must update the economic calendar periodically and focus on the tasks that are critical to the development of the organization.
One can have a meeting or a conference and have a financial discussion using the economic calendar. However, to maintain the overall effectiveness of the organization, it has to be reviewed periodically.