The Concept of Budgeting in the non stable market environment

Koncepce rozpočetnictví v nestabilním tržním prostředí

Jana Fibírová

Český finanční a účetní časopis, 2013, vol. 2013, issue 3, 99-109

Abstract: The aim of the Beyond Budgeting concept is to recognize mutual interconnections and relations of budgeting process as a whole, to design the management model of a company operating in turbulent market environment and to specify the principles, rules and tools of the model. The Beyond Budgeting is the management model which emphasizes strategic goal setting, rolling budgeting and performance management based on both financial and nonfinancial indicators and on its relative analysis and evaluation. Budgets are recognized as a starting point of the whole management process improvement. Integrating budgets with the real management system enables to attract the managers' interest in budgets and to understand the linkage of budgets to the entire management system, i.e. to comprehend the integrating function of budgets.

Keywords: Budget; Management model; Company's adaptability; Executive managers' responsibility; Rolling budgeting; Relative evaluation criteria; Rozpočet; Model řízení; Adaptabilita podniku; Zodpovědnost výkonných řídicích pracovníků; Klouzavé plánování; Relativní kritéria hodnocení (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2013
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DOI: 10.18267/j.cfuc.373

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