Beyond Budgeting Book review by Stephen Parry

Home / Book Reviews / Beyond Budgeting Book review by Stephen Parry

Beyond Budgeting: How Managers Can Break Free from the Annual Performance Trap

Accepted ideas are no longer competent and competent ideas are not yet acceptable.,

Beyond Budgeting: How Managers Can Break Free from the Annual Performance Trap (Hardcover)

This book and its associated Harvard Business Review articles (by Hope and Fraser) from 2003 has not attracted the attention it deserves.

When this was written it was seen as the antidote to the endless budgeting cycle based on the ‘prediction’ fallacy and the ensuing corporate gaming they create.

All of us have said at one time or another this process (budgeting negotiation etc.) is a joke, but we all continue to play our part in maintaining the joke, playing the game, fighting for survival in a world created by the madness of the corporate budgeting processes.

Hope and Fraser have clearly demonstrated that the current process is not only wasteful in terms of human effort but downright detrimental the the enterprise, employees and customers. They go further and show us all a way out of the trap.

There is an alternative, but it needs study and it needs more companies other than the ones illustrated in the book to lead the way. Only then can we change the current paradigm where ‘Accepted ideas are no longer competent and competent ideas are not yet acceptable’

Leave a Reply

Your email address will not be published. Required fields are marked *