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Examining Traditional, Better & Beyond Budgeting In a Dynamic Era : A Case Study of Länsförsäkringar / Examination av Traditionell Budgetering, Bättre Budgetering och Budgetlös Styrning I En Föränderlig Epok : En Case Studie av LänsförsäkringarRenfors, Hampus, Odh, Martin January 2018 (has links)
Within the research field of management controlling systems, a contrasting debate has evolved about budgeting. The market environment has become more dynamic where traditional budgeting, better budgeting and beyond budgeting have received significant observation to establish what alternative that is mostly suitable for the current market situation. With rapid changes in the market environment, a traditional budget can quickly become obsolete. To help ground research in practice, we examine how the budgeting process is characterized from a short-term operational and long-term strategic perspective in modern organizations. Furthermore, we shed light on what functions the budget and/or its other management controlling system(s) fulfills. As researchers and practitioners claim that traditional budgets are among others static, inflexible and time-consuming, we investigate to what extent these corresponds to the views of the CFOs and Bank Directors interviewed for this study. To fulfill our purpose, we conducted a multiple-case study. The data is obtained through a qualitative strategy with elements of a quantitative. Our empirical data is primarily collected through interviews. We complemented with a questionnaire where the interviewees provide their standpoints on the criticism against traditional budgeting. The analysis is carried out with a qualitative approach. The result from this thesis illuminates that traditional, better and beyond budgeting is present in the studied organizations. Nevertheless, the study concludes that the positive aspects of a traditional budget outweighs its downsides despite criticism and market environmental factors.
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Adaptiv styrning under osäkerhet : En kvantitativ studie om sambandet mellan osäker miljö och adaptiva styrprinciperLundin, Axel, Panelius, Althea, Pappiland, Diana January 2022 (has links)
Adaptiva styrprinciper har framhållits som potentiell lösning till en rad strategiskt kostsamma nackdelar kopplade till den traditionella årsbudgeten. Denna studie syftar till att studerasambandet mellan dessa adaptiva styrprinciper och osäker miljö. Teoribildningen som ligger till grund för det analytiska ramverket har tematiserats i fyra kategorier av adaptiva styrprinciper som visats återkommande i den tidigare forskningen rörande beyond budgeting och dess besläktade hybrider: decentralisering, adaptiv planering och resursallokering, adaptiv målsättning och prestationsmätning samt adaptiva incitamentspraktiker. Denna tidigare forskning har emellertid inte undersökt mindre företags benägenhet att implementera dessa praktiker, och hur detta förhåller sig under perioder av generell osäkerhet. Covid-19-pandemin utgör en unik möjlighet på så sätt att andra typer av osäkerhet tidigare har tagit formen av specifika attribut (exempelvis konkurrensutsättning), medan pandemin får anses vara generellt utan motstycke under de i övrigt rådande omständigheterna. Forskningsfrågan definieras därmed som: Har mindre svenska tillverkningsföretag anammat adaptiva styrprinciper i större utsträckning under pandemin? För att undersöka huruvida dessa styrprinciper har ett samband med osäker miljö på det sätt som antyds utifrån teori användes en kvantitativ metod. En enkät skickades till 616 svenska tillverkningsföretag med 10-199 anställda, varav 88 användbara svar samlades in. Även om respondenterna uppvisade bred tendens till anammande (såsom teorin skulle förutse) var inte denna förändringsgrad under pandemin statistiskt signifikant utifrån linjär sannolikhetsmodell. / Adaptive management practices have been touted as being the solution to a number of strategically costly problems connected to the traditional yearly budget. The purpose of this study is to examine the relation between adaptive management practices and an uncertain environment. The underlying theory of the analytical framework specifically concerns four adaptive management practices that have proven to be recurring in the beyond budgeting literature and its adjacent hybrids: decentralization, adaptive planning and resource allocation, adaptive goal and performance measurements and adaptive incentives. Prior research has overlooked the aspect of smaller companies and their willingness to change and adapt their management practices during times of general uncertainty. The Covid-19 pandemic during 2020-2021 constituted a rare opportunity in the sense that other types of uncertainty have tended to be specific (e.g. increased competition), whereas the pandemic is taken to be generally unprecedented in relation to all other aspects of the current business environment. The research question was therefore formulated as: Have Swedish small scale manufacturing companies adopted adaptive management practices to a larger extent during the pandemic? To examine whether the adoption of these tools relate to uncertain environments, in the manner in which the theory suggests, a quantitative approach was utilized. A survey was sent to 616 Swedish manufacturing companies with 10-199 employees, out of which 88 useful answers were gathered. Although the respondents showed tendencies of adoption across the board (as the theory would predict) the changes made during the pandemic did not reach statistical significance in the linear probability model.
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An evaluation of the most prevalent budgeting practice in the South African business communitySabela, Sibusiso Wellington January 2012 (has links)
This study is based on a combination of existing theoretical knowledge and recently conducted empirical research. The analysis of knowledge that has come from the academic world has resulted in an extensive review of budgeting. The review starts at the inception of budgets in the nineteenth century, where it was just a tool to manage cost and cash flows. The study follows the trajectory of the evolution of budgeting from Traditional Budgeting practices that lasted for decades to, what is known today as, Better Budgeting.
The evolution of budgeting has been driven by the desire of organisations to mitigate business challenges which result from the economic volatilities of the day as well as to remain competitive. This desire to mitigate business challenges remains relevant today and demands that organisations be equipped with best practice management tools, systems and business processes.
In order to manage organisations effectively and efficiently, Management Accounting as a discipline is in a state of constant development. Over the years, a number of new innovations have been introduced in the field of Management Accounting. These include (but are not limited to) concepts such as Activity Based Costing (ABC), Activity Based Management (ABM), Activity Based Budgeting (ABB), Target Costing, Strategic Cost Management and Economic Value Added (Budgeting)(EVA™), Zero Based Budgeting (ZBB), Rolling Budgets and Forecasting (RBF), Balanced-Score Card (BSC) and Beyond Budgeting. These innovations aim to provide business managers with practical value adding solutions for a better understanding of the organisation’s product or service costing and planning strategies. The focus of this study is on innovations relating to the planning strategies of the organisation. Innovations that relate to planning include: Activity Based Budgeting, Zero Based Budgeting and Rolling Budgeting and Forecasting.
The budget evolution is not short of academic value; researchers have conducted empirical surveys and have provided a theoretical perspective on the subject matter with fruitful findings. There appears to be a consensus regarding a total overhaul of Traditional Budgeting with the clear intention to move towards Better Budgeting. In the midst of this continued research work, there has been an emergence of a radical view about budgeting. This radical view concerns pursuing an agenda that suggests that organisations must stop preparing budgets. The gist of this radical development can be summed up as the limitations presented by budgeting in organisations. This recent concept has been coined as Beyond Budgeting.
To remain globally competitive, South African organisations must keep abreast with the latest developments in management practices. This study therefore provides a good platform for South African organisations to obtain knowledge in what other countries are already doing around the subject of budgeting.
The study has a two-pronged problem statement. Firstly, do organisations still budget? Secondly, what do organisations feel is the future for budgeting? Are they keeping with Traditional Budgeting, moving towards Better Budgeting or rather going further and looking Beyond Budgeting? The South African business community is no exception to this global budget debate about Traditional Budgeting, Better Budgeting and Beyond Budgeting.
To gather evidence, the study made use of an online survey questionnaire that is attached as Appendix 2. An email invite containing an Internet hyperlink was sent to respondents. Respondents were expected to click on the hyperlink to gain access the pre-designed online survey questionnaire.
Upon the analysis of the results, it was concluded that the South African business community still relies on budgeting, with 90% of the respondents saying that budgeting is indispensable, as their organisations will not manage without budgeting. Furthermore, there was a clear-cut move from Traditional Budgeting towards Better Budgeting. The study also concluded that the move towards Better Budgeting is supported by the inability of Traditional Budgeting to keep up with the rapid changes in macro and micro-economic factors. Also interesting to note is the revelation that 0% of the respondents indicated that they had adopted and implemented Beyond Budgeting. This resistance by the South African business community to the adoption of Beyond Budgeting and the resulting slower pace of this new practice's implementation is actually similar to the pace at which global organisations have received this radical budgeting practice. / Dissertation (MCom) University of Pretoria, 2012 / am2013 / Financial Management / unrestricted
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