Exceeding Budget: How Managers Can Avoid the Traps of Annual Performance Evaluations

Author: (USA) Hope
Publisher:
Publish Date: 2005-12-01
Features: "Beyond Budgeting" extracts new management models for the information age. This book is written for leaders with the courage and boldness to discard sluggish management dogmas and release potential wealth within the company. In "Beyond Budgeting," Gregory Peirong, from IBM Business Consulting Services, Hope and Fraser overturn the "old" budgeting methods. Through a thorough analysis and synthesis of many successful business cases, they provide a blueprint for gaining competitive advantages in today's volatile and highly competitive economic environment.
Professor Michelle Lepage, from the ParisHEC, a fixed annual budget is not only laborious and time-consuming but also fails to allow managers to adapt flexibly to rapid changes in the business environment. Additionally, the fixed goals and performance incentives focused on by traditional budgets often lead to operational chaos, and even unethical management practices. In this groundbreaking work, the two authors spent five years conducting extensive research on multinational companies, demonstrating how these companies, after abandoning traditional budgeting processes, broke free from the constraints of annual performance evaluations.
The book does not describe a new financial planning process but rather an alternative, realistic management model that enables companies to achieve performance management in a way that adapts to the ever-changing market. This book aims to inspire every manager to take responsibility for their operational duties, thereby showing the guiding management framework necessary to create a cost-effective, adaptable, and ethical excellent enterprise.