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Many leaders realize that in economy it will no longer be the smart highly paid people in the corporate center that drive success. This book is about rethinking how we manage organizations in a post-industrial, post credit crunch world where innovative management models represent the only remaining source of sustainable competitive advantage.
The traditional annual budgeting process--characterized by fixed targets and performance incentives--is time consuming, overcentralized, and outdated. Worse, it often causes dysfunctional and unethical managerial behavior. Based on an intensive, international study into pioneering companies, Beyond Budgeting offers an alternative, coherent management model that overcomes the limitations of traditional budgeting. Focused around achieving sustained improvement relative to competitors, it provides a guiding framework for managing in the twenty-first century.
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