INNOVATIVE MANAGEMENT MODEL: MANAGEMENT WITHOUT BUDGET (BEYOND BUDGETING)

Budgets are defined as a detailed action plan that shows the expected profit, cash flows and financial position of the entity over a period of time, and has played a key role in management's planning and control functions in its historical development. In recent years, it has faced some criticism and debate. These criticisms can be summarized as the traditional budget practice being quite time-consuming, not being adaptable quickly, being far from business strategy, being focused on sales goals rather than customer satisfaction, and sometimes leading to unethical behavior. As a result of these criticisms, one of the current management approaches designed is the Beyond Budgeting. This new approach is a strategic management model that tries to overcome the shortcomings of traditional budgets and is thought to be an effective management model in the businesses. Within the context of this study, the budgetary management approach, which is considered as an important planning and control tool for the enterprises, can not respond adequately to the requirements in today's conditions and as a result, the Management without Budget approach proposed as a new management tool has been examined in detail