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

Author: Jeremy Hoppen (USA), Robin Fraser
Publisher:
Publish Date: 2005-12-01
Features: A fixed annual budget is not only time-consuming but also fails to allow managers to be flexible in responding to rapid changes in the business environment. Additionally, the fixed targets and performance incentives focused on by traditional budgets 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, after abandoning traditional budgeting processes, broke free from the constraints of annual performance evaluations. The book describes not a new financial planning process, but 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 efficient, adaptable, and ethical excellent enterprise.