Weaknesses of Traditional Budgeting

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Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.     Log in (Beyond) Budgeting > Forum > Weaknesses of Traditional Budgeting Weaknesses of Traditional Budgeting Anneke Zwart, Student (University), Netherlands, Member Fraser and Hope mention the main weaknesses of annual (traditional) budgeting that gave rise to the development of thinking beyond budgeting: 1. Time Consuming - Budgeting takes a lot of time. Average time needed for budgeting lies between two and four months according to the authors. 2. Costly - Despite developments of high quality and fast computer networks, the process of budgeting still remains to be expensive. 3. Useless - After visiting several companies, it appeared that many companies perceived the results of budgeting differently. Budget gave some companies more control, while in other companies budgeting was perceived as being unimportant and not meeting any needs. 4. Bureaucratic - The continuous pressure on prices of goods and services asks for decreases in structural costs and in bureaucracy. 5. Frequency - Initially changes in the competitive environment resulted in budgeting more often in a year, but its only result is a rising workload that is especially high in re (...) Read more? Sign up for free   Please register now to read all responses and to join this discussion yourself. It's easy and 100% free. Sign up for free     Log in   On Weaknesses of Traditional Budgeting 6b: Changing Economic Enviroment Nita, CEO, United States, Member (...)     On Weaknesses of Traditional Budgeting 5: The Trisemester Way Arif ur Rehman, Professor, Pakistan, Member (...)     Weaknesses of Traditional Budgeting: 7. Budgeting is Often not Integrated with ERP Jagdish B Acharya, Consultant, India, Premium Member (...)     On Weaknesses of Traditional Budgeting 3: Now Useless KALOGO PAUL (...)     On Weaknesses of Traditional Budgeting 3: Use Budgeting Appropriately Alpin McGregor, freeelance, United Kingdom, Member (...)     On Weaknesses of Traditional Budgeting 3: Don't Use Budgeting for History Only George Kerstholt, Strategy Consultant, Netherlands, Member (...)     Budgets... They Have a Place But When Misused! Donald Liveley, Teacher, United States, Member (...)     Weaknesses of Annual Budgeting: 8. Perspective of Cost Control Hakvoort, Business Consultant, Netherlands, Member (...)     On Weaknesses of Traditional Budgeting 3: Not Useless... palermo, ICT Consultant, Chile, Member (...)     Weaknesses of Traditional Budgeting: 9. Included in Project Management Tools CHIEDU UDE, CEO, Nigeria, Member (...)     Another Weakness of Budgeting: 10. Vulnerable for Cost Cutting ADAM SAID, Student (Other), Member (...)     All Mentioned Weaknesses do not mean Budgeting is Useless Sergey Baltin, Manager, Russian Federation, Member (...)     Further Weaknesses of Traditional Budgeting K.Narayana Moorthy, HR Consultant, India, Member (...)     Waste of Energy, Causes Sandbagging JC de Jong, Director, Netherlands, Premium Member (...)     On 3. Useless: Managers don't see the Value of Budgeting jiun, Student (University), Malaysia, Member (...)     Budgeting-Rocket Science? Istvan Szeman, Consultant, Hungary, Member (...)     Missing Process and Software Support Istvan Szeman, Consultant, Hungary, Member (...)     Weaknesses of Traditional Budgets NANG Theophile, Student (University), Cameroon, Member (...)     Weakness of Traditional Budgeting Dobson, Project Manager, Canada, Member (...)     Weaknesses of Annual Budgeting RUBEN ACOSTA, Manager, Mexico, Member (...)     Lack of Process and Software.. Donald Liveley, Teacher, United States, Member (...)     Weaknesses of Traditional Budget, 3 Useless Adam Mohammed Baba, Director, Ghana, Member (...)     Weaknesses of Traditional Budgeting K.Narayana Moorthy, HR Consultant, India, Member (...)     Careful with the Effectiveness of Numbers ADAM SAID, Student (Other), Member (...)     Weaknesses of Traditional Budgeting Michael T Iorngurum, Manager, Nigeria, Member (...)     Weaknesses of Traditional Budgeting George Kerstholt, Strategy Consultant, Netherlands, Member (...)     Weaknesses of Traditional Budget K.Narayana Moorthy, HR Consultant, India, Member (...)     Weaknesses of Traditional Budgeting Istvan Szeman, Consultant, Hungary, Member (...)

Special Interest Group Leader Interested? Sign up for free. (Beyond) Budgeting Summary Forum Weaknesses of Traditional Budgeting Budgeting Must Be Flexible and Auditable Financial Measure / Budgeting is no Longer Dominant Budgeting for Guidance, not for Control 'Beyond' Budgeting -- Call it Whatever, It's Necessary Add Rolling Quarterly Forecasts to Traditional Budgeting Process Budgeting Has Become the End Instead of a Tool to an End Budgeting is the Essence of Good Management Budgets Should Facilitate Communication, Collaboration, Cooperation, and Coordination Can we Use Beyond Budgeting in Entrepreneurial Companies? What is a Budget? Definition Budgeting in Uncertain Business Climate Budgeting Must Be Integrated in Strategic Process Rolling Forecast in Beyond Budgeting Why Budgeting and Sound Financial Practices are Crucial Lump Sum Budgeting with a Cushion Best Practices

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