Management & Budgetary Control and the Beyond Budgeting debate.You have recently joined the company after achieving your first class degree in Business and Management.
AND 800 WORDS ON A LIT REVIEW . Use UWE harvard referencing .Assessment Instructions
Topic: Management & Budgetary Control and the Beyond Budgeting debate.
Part 1:
Sheffield Surgical Ltd (SSL) manufactures high quality stainlesssteel
and titanium surgical instruments for use in general
surgery, dental surgery and veterinary surgery. The company started manufacturing high quality surgical instruments back in
Sheffield, in 1967, the home of quality stainless steel and engineering in the UK. The company originally started manufacturing
instruments for the National Health Service (NHS) in the UK. The business gradually expanded and widened their markets with
the move into dental and veterinary surgical instruments. Due to their reputation of manufacturing high quality surgical
instruments and accessories for use within the modern operating theatre environment the company has expanded significantly
in the last ten years and are now a global supplier.
You have recently joined the company after achieving your first class degree in Business and Management. During your
interview you discussed your interest in ‘Beyond Budgeting’ and the restrictions of budgetary control. The interview panel,
which included the Managing Director found your discussions both relevant and engaging. This is why the Managing Director
has called you to his office to discuss possible significant future developments for the organisation.
At the meeting the Managing Director explains that he recently attended a conference where the Beyond Budgeting debate was
introduced and discussed by a few keynote speakers. Whilst he found the discussions engaging he has to admit that he was
distracted and interrupted at the conference due to an unfortunate family issue. He then moves on to the recent performance of
the company and whilst they have enjoyed significant growth in the last ten year, sales have started to decline in the last 12
months. He also mentions that he can feel a sense frustration amongst some of his managers with regards to the traditional
forms of budgeting which the organisation has always operated and highlights a heated debate at the last board meeting. He
explains that the Sales Director expressed his frustrations and explained that the current system is too restrictive and does not
allow them to react to the rapidly changing characteristics of the market and the needs of customers. However the Finance
Director defended the need and importance for budgets as a mechanism to monitor and control the business in the completive
global environment in which they find themselves.
He then explains the reason for the meeting, he understands that the business needs to adapt to the modern business
environment and he feels that this is best achieved through the concept of ‘Beyond Budgeting’. He therefore tasks you with
writing a report which will be presented to the directors at the next board meeting.
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