Purpose and benefits

• The traditional performance management model. This model was first developed in the 1920s to help financial managers control costs in such large organisations as DuPont, General Motors, ICI, and Siemens, and for the next 30 to 40 years it did the job reasonably well.

• The changing environment. In an age of discontinuous change, unpredictable competition, and fickle customers, few companies can plan ahead with any confidence. Yet most organisations remain locked into a traditional ‘plan-make-and-sell’ management model that involves a protracted annual budgeting process based on negotiated targets and resources, and that assumes customers will buy what the company decides to make.

Related Solutions

Audience

For those involved in the budgeting process.

Learning method

Essay on management best practice using case studies and suggested action plans with additional reference sources.

Time to Complete

20 mins

Length

5 Pages

Participants

1

Price

£5 Pounds Sterling
(inc. VAT)