Beyond Budgeting: How Managers Can Break Free from the Annual Performance Trap

Traditional corporate budgeting processes are long, prevent agile market response, and may even pressure managers into unethical or illegal practices. Does this sound like your budget ritual? If so, the authors believe they have a fix: a budgeting model that focuses on achieving sustained improvement relative to competitors and that links performance measurement to strategy. Gone are fixed targets, annual target-setting meetings, and top-down decision making. Beyond Budgeting should be of interest to anyone with P&L responsibilities.