The days of devoting a lot of time to detailed bottom up budgeting are over and this activity is not value adding in today's fast moving world.  Emphasis needs to be on comprehensive and realistic top down target setting at the commencement of the planning cycle using the vast amount of information and trending analytics now available in most large organisations.  Efforts to set realistic but challenging targets will payback in reduction of feedback and revision time during the course of the year - less time spent on explaining why the target is missed and more time on gap closure.  Very detailed FP&A budgets add little value and are no longer a good use of management time.    Disciplined target setting and one target that stays for the year does not impede innovation, rarther brings certainty to resource allocation decisions and wise choices around managing the inovation pipeline

A good read although I am not sure how we can adopt practically within my organisation

This research subject has provided me with new insights into the relationship between the budgeting framework and innovation.

Traditionally budget is seen as having a limiting effect on innovation due to compartmentalised targeting and performance measurement. The report contradicts this opinion and provides sufficient backing to support (though in a isolated case study) the existence of a structure that provides for both sound budgeting and active innovation.

The idea of cooperation between departments with Performance Management Processes to facilitate conflict resolution where budgets and innovation collide seem very viable.

The researched company showed that through a well designed managerial control system the tensions between budgeting and innovation can be overcome with the overall organisation objectives being prioritised over functional and departmental targets.

Budgeting still lies at the hart of the control framework, but no longer seen as a limiting primary control.

This research subject has provided me with new insights into the relationship between the budgeting framework and innovation.

Traditionally budget is seen as having a limiting effect on innovation due to compartmentalised targeting and performance measurement. The report contradicts this opinion and provides sufficient backing to support (though in a isolated case study) the existence of a structure that provides for both sound budgeting and active innovation.

The idea of cooperation between departments with Performance Management Processes to facilitate conflict resolution where budgets and innovation collide seem very viable.

The researched company showed that through a well designed managerial control system the tensions between budgeting and innovation can be overcome with the overall organisation objectives being prioritised over functional and departmental targets.

Budgeting still lies at the hart of the control framework, but not as the primary 

This research subject has provided me with new insights into the relationship between the budgeting framework and innovation.

Traditionally budget is seen as having a limiting effect on innovation due to compartmentalised targeting and performance measurement. The report contradicts this opinion and provides sufficient backing to support (though in a isolated case study) the existence of a structure that provides for both sound budgeting and active innovation.

The idea of cooperation between departments with Performance Management Processes to facilitate conflict resolution where budgets and innovation collide seem very viable.

The researched organisation showed that through a well designed managerial control system the tensions between budgeting and innovation can be overcome with the overall organisation objectives being prioritised over functional and departmental targets.