Implications and challenges of using driver-based budgeting in contemporary business environment
The main characteristics of the business conditions of today's companies are frequent and intensive changes. The dynamic business environment of modern companies requires a new way of management that involves an implementation of new management models, methods, techniques and instruments that a...
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| Format: | Article |
| Language: | English |
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Visoka poslovna škola strukovnih studija Prof. dr Radomir Bojković, Kruševac
2021-01-01
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| Series: | Trendovi u Poslovanju |
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| Online Access: | https://scindeks-clanci.ceon.rs/data/pdf/2334-816X/2021/2334-816X2101049N.pdf |
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| _version_ | 1823859920908320768 |
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| author | Nikodijević Marija |
| author_facet | Nikodijević Marija |
| author_sort | Nikodijević Marija |
| collection | DOAJ |
| description | The main characteristics of the business conditions of today's companies are frequent and intensive changes. The dynamic business environment of modern companies requires a new way of management that involves an implementation of new management models, methods, techniques and instruments that are adapted to the modern environment and able to respond to challenges and solve problems that arise in new business conditions. The aim of the paper is to describe the specifics of driver-based budgeting, as one of new management instruments. In comparison with traditional budgeting, driver-based budgeting possesses multiple advantages for companies that enable responding to changes in business environment in a more agile way. These advantages, as well as some perceived difficulties with its implementation in companies are described in the paper. The results of the paper contribute to the further development of the theory and can be an incentive for future research, as well as basis for making recommendations and practical instructions that could help companies improve their budgeting system. |
| format | Article |
| id | doaj-art-8be4ad5d327a4da3a6817716df960169 |
| institution | Kabale University |
| issn | 2334-816X 2334-8356 |
| language | English |
| publishDate | 2021-01-01 |
| publisher | Visoka poslovna škola strukovnih studija Prof. dr Radomir Bojković, Kruševac |
| record_format | Article |
| series | Trendovi u Poslovanju |
| spelling | doaj-art-8be4ad5d327a4da3a6817716df9601692025-02-10T19:38:25ZengVisoka poslovna škola strukovnih studija Prof. dr Radomir Bojković, KruševacTrendovi u Poslovanju2334-816X2334-83562021-01-0191495710.5937/trendpos2101050N2334-816X2101049NImplications and challenges of using driver-based budgeting in contemporary business environmentNikodijević Marija0Mozzart doo, Beograd, SerbiaThe main characteristics of the business conditions of today's companies are frequent and intensive changes. The dynamic business environment of modern companies requires a new way of management that involves an implementation of new management models, methods, techniques and instruments that are adapted to the modern environment and able to respond to challenges and solve problems that arise in new business conditions. The aim of the paper is to describe the specifics of driver-based budgeting, as one of new management instruments. In comparison with traditional budgeting, driver-based budgeting possesses multiple advantages for companies that enable responding to changes in business environment in a more agile way. These advantages, as well as some perceived difficulties with its implementation in companies are described in the paper. The results of the paper contribute to the further development of the theory and can be an incentive for future research, as well as basis for making recommendations and practical instructions that could help companies improve their budgeting system.https://scindeks-clanci.ceon.rs/data/pdf/2334-816X/2021/2334-816X2101049N.pdfdriver-based budgetingplanningbusiness driversforecastingmodeladvantageschallenges |
| spellingShingle | Nikodijević Marija Implications and challenges of using driver-based budgeting in contemporary business environment Trendovi u Poslovanju driver-based budgeting planning business drivers forecasting model advantages challenges |
| title | Implications and challenges of using driver-based budgeting in contemporary business environment |
| title_full | Implications and challenges of using driver-based budgeting in contemporary business environment |
| title_fullStr | Implications and challenges of using driver-based budgeting in contemporary business environment |
| title_full_unstemmed | Implications and challenges of using driver-based budgeting in contemporary business environment |
| title_short | Implications and challenges of using driver-based budgeting in contemporary business environment |
| title_sort | implications and challenges of using driver based budgeting in contemporary business environment |
| topic | driver-based budgeting planning business drivers forecasting model advantages challenges |
| url | https://scindeks-clanci.ceon.rs/data/pdf/2334-816X/2021/2334-816X2101049N.pdf |
| work_keys_str_mv | AT nikodijevicmarija implicationsandchallengesofusingdriverbasedbudgetingincontemporarybusinessenvironment |