Budgets are time-consuming and costly to put together. How does the Essay

Budgets are time-consuming and costly to put together. How does the cost of traditional budgeting approach lead to the birth of beyond budgeting - Essay Example In addition, Goode says that some companies uses up to $1.2 billion shillings per year during budget process. This can prove to be very expensive considering that budgeting process only add little or no difference to the shareholders assets These problems associated with traditional budgeting led to the birth of beyond budgeting. This is because it has the ability to reduce the amount of money spend during the budget process. In connection to this, beyond budgeting has been adapted by many companies (Rothberg, 2011, 2). In summary, the birth of beyond budgeting has been at the center of some of the best performing companies because it reduces the amount of money spend during the budgeting process and it also a little time is required for the budgeting processes. Rothberg, Arthur F. (2011) Traditional budgeting Vs beyond budgeting: Three core differences. Retrieved from