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Can anybody explain for me beyond budgeting such as the key features, pros and cons and one more is different with rolling budgeting?
Thanks alot
It would be pretty exhaustive to list out every pro and con, but to cut it short, beyond budgeting is simply developing a budgeting approach by getting around the “straight-jacket constraints” of the traditional budget usually imposed by the top senior management down to the operational level.
It’s more than just creating more accurate, flexible forecasts, it’s also about creating a brand new, responsive, participative and innovative management culture from ALL levels, hence leading to a more coherent performance management.
If you would like to expand your knowledge on its application, consider reading this link:
Myths about Beyond Budgeting – https://www.epmreview.com/Resources/Articles/Myths-about-Beyond-Budgeting.html
Beyond Budgeting Case in Svenska Handelsbanken
https://www.juergendaum.com/news/02_24_2003.htmAnd also check up Hope and Fraser’s book “Beyond Budgeting: How Managers can Break Free from the Annual Performance Trap” at a library.
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