NDLI: The Budget Management Framework Based on Corporate Strategy

Content Provider	IEEE Xplore Digital Library
Author	Zhang Shuang-Cai Zhang Yi
Copyright Year	2008
Description	Author affiliation: Sch. of Manage., Hebei Univ., Baoding (Zhang Shuang-Cai)
Abstract	Since the 1920s, budget management has always played a central role irreplaceable in corporate management. After the mid-1980s, the environmental changes that many companies experienced have already shaken the foundation and prerequisites for the operation of traditional budget management, the deficiency of traditional budget management gradually emerges, especially the incoordination between budget and strategy which brings a direct consequence: corporate strategy can not be truly implemented. One study shows that 60% of organizations do not link budgets to strategy. More than half of the surveyed enterprises show: its budget and performance evaluation process is operated completely independent from its strategic planning process. This paper proposes a corporate strategy based budget management framework which is structured on the Balanced Scorecard as well as some advanced ideas from operating budget. A strategy based budget management model can provide an effective system of strategic management and control methods, which will help the company use strategic tools to obtain future competitive advantage. With no doubt it is of great significance for the truly implementation of corporate strategy and the budget.
Starting Page	1
Ending Page	4
File Size	114124
Page Count	4
File Format	PDF
ISBN	9781424421077
DOI	10.1109/WiCom.2008.2309
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2008-10-12
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Technology management Government Process control Companies Financial management Strategic planning Control systems Resource management Environmental management Centralized control
Content Type	Text
Resource Type	Article

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4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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