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Budgets have been criticised for being too time-consuming; imposing a vertical command and control structure;...

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Question

Accounting

Budgets have been criticised for being too time-consuming; imposing a vertical command and control structure; creating centralised decision-making; stifling innovation and focusing on cost reduction rather than value creation (Ostergren and Stensaker, 2011, p. 152).

Requirement

Drawing on the relevant academic literature, critically discuss how implementing a Beyond Budgeting control system could mitigate the criticisms of a traditional budgeting system.

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