Transforming Financial Planning in Small & Medium-Sized Enterprises – September 2007
Abstract: At the core of performance management is the planning and budgeting process. For most companies plans and budgets are negotiated, annual and fixed. Nothing is more likely to stifle adaptive and innovative management that this rigid, sterile process. That’s why companies need to move to a more continuous, rolling process and abandon annual planning and budgeting. This paper examines these issues, how small and medium sized companies that are still adaptive, responsive and innovative can avoid the sclerosis of many larger companies and how managers can implement a more continuous approach to planning.
Published in: Horváth, P. (Ed) (2007) Erfolgstreiber für das Controlling. Stuttgart, Schäffer-Poeschel Verlag