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

Author: Jeremy...
Publisher:
Publish Date: 2005-12-01
Features: A fixed annual budget is not only time-consuming but also fails to allow managers to adapt flexibly to rapid changes in the business environment. Additionally, the fixed targets and performance incentives traditionally focused on in budgeting often lead to operational disruptions and even unethical management practices. In this groundbreaking book, the two authors spent five years conducting extensive research on multinational companies, demonstrating how these companies were able to break free from the constraints of annual performance evaluations after abandoning traditional budgeting processes. 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 us the guiding management framework necessary to create an economical, adaptable, and ethical excellent enterprise.