It is seen to be costly and time-consuming and can inhibit action and cause organisational problems. The influence of the "Beyond Budgeting" model has caused some major companies, including
Toyota, to abandon traditional budgeting altogether. Should other companies follow suit?
This report reveals that there's little evidence to suggest widespread dissatisfaction with traditional budgeting. However, to enable a company to perform at its best, understanding budgeting
in context is essential and it is imperative that budgeting works in tandem with other control systems and organisational structure.
