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"Turn Your Budgeting Process Upside Down," encourages Robert Howell in the Harvard Business Review (July 2004; hbr.org). Howell suggests...
"The budget process should be understood as just the first phase of the rest of the life of the firm. To foster this attitude, some companies conduct their budget-planning on a rolling basis, updating and extending the plan regularly (perhaps semi-annually). Some set their short-term plans not according to the annual financial-reporting calendar, but according to a full sweep of their companies' normal business cycle.... Rolling plans of two to three years' duration keep managers' eyes on a more distant horizon...."
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