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Beyond Budgeting
Courtesy of Actual Media
- Empowerment of operating managers to make decisions right there and then with limited constraints, in order to meet customer requirements within the context of corporate goals
- Holds managers accountable
- Focuses on life cycle costs and performance measures, not budget numbers, to measure progress against.
- Organizes the business around customer-oriented business units, not hierarchical departments
- Makes strategy an ongoing process, not an annual event
- Allocates resources when and where needed, not according to annual budget
- Discourages micromanagement
- Releases significant amounts of financial and management time to focus on the client rather than serving the proverbial “bureaucratic beast”
- Frees resources from budgetary process, to focus on strategy, planning and performance monitoring and servicing customers
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