Competing in the Third Wave

The authors show how to reform the traditional budgeting process, which currently consumes too much time while adding too little value. The problem is traditional budgeting’s focus on fixed targets and performance incentives. The authors argue for replacing centrally controlled, predetermined goals with self-regulating, relative competitive benchmarks and transfer the power and decision-making authority from the center of the organization to the front line.

Here are the ideas and measuring tools you need to cut costs, improve productivity, find and keep profitable customers, and keep workers happy.