JOURNAL OF MARKETING DEVELOPMENT AND COMPETITIVENESS
Budgeting in a Chaotic Economic Environment …Factors Leading
Author(s): Nancy Coulmas, Mark D. Law
Citation: Nancy Coulmas, Mark D. Law (2010) "Budgeting in a Chaotic Economic Environment …Factors Leading to Improvement," Journal of Marketing Development and Competitiveness, Vol. 5, Iss. 1, pp. 42 - 46
Article Type: Research paper
Publisher: North American Business Press
Traditional budgets and budgeting processes have been identified as frustrating and inflexible. They are based on immovable targets and often lead to suboptimal attitudes and behaviors. When the budget process is performed in a chaotic economic environment, these negative aspects are exacerbated. This paper identifies and discusses actions that can be implemented to enhance the flexibility of budgets and their processes and to reduce the negative aspects involved.