Budgeting has long been a cornerstone of financial planning and control in organizations, with origins dating back to the 1920s. Over the past decades, however, the traditional budgeting process has faced growing criticism—particularly in today’s increasingly volatile and uncertain business environment.
This episode provides an overview of the challenges associated with conventional budgeting and introduces the principles of the Beyond Budgeting concept. It highlights the need for organizations to tailor their budgeting processes to their specific context, complexity, and level of uncertainty—placing greater emphasis on value creation rather than cost control. This shift is especially critical for companies seeking to navigate heightened dynamics and drive innovation.

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