Article: Making sense of Beyond Budgeting

Bob Scarlett
New Straits Times
10-20-2007
Making sense of Beyond Budgeting
Byline: Bob Scarlett
Edition: Main/Lifestyle
Section: Main Section
Column: CIMA business talk

BUDGETING is what's known as a dependency model in which action is guided by fixed plans that are based on information that quickly becomes obsolete. It is most suitable for use in a centralised organisation where actions are decided at the top and delegated to subordinates for execution.

Beyond Budgeting (BB) is the generic name given to a body of practices intended to replace budgeting. Its core concept is the need to move from a business model based on centralised hierarchies to one based on devolved networks.
In essence, BB ...

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