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A Critical Perspective on Contemporary Budgeting Practices in German Companies

In: Business in a Turbulent Era, Volume I

Author

Listed:
  • Niklas Benzenhöfer

    (Pforzheim University)

  • Patrick Kraus

    (Pforzheim University)

  • Markus Buchner

    (Pforzheim University)

  • Dennis Schlegel

    (Reutlingen University)

Abstract

This paper analyses the evolving landscape of budget planning in the context of recent global crises, including the COVID-19 pandemic, the war in Ukraine, and the semiconductor crisis. These events have compelled organisations to reassess traditional budgeting methods, advocating for more flexible and resilient approaches. Traditional budgets have long been criticised for being time-consuming, costly, lacking a focus on long-term growth, and for their inflexibility, often leading to counterproductive budgeting practices. Through a qualitative, semi-structured interview approach, our study addresses a critical gap in the existing literature, which predominantly comprises quantitative analyses and case studies. It provides detailed insights into the benefits and challenges of budgeting from the perspective of practitioners. It contributes to the discourse by incorporating practices from German firms and updating practitioners’ views on budgeting in crisis-prone and uncertain environments.

Suggested Citation

  • Niklas Benzenhöfer & Patrick Kraus & Markus Buchner & Dennis Schlegel, 2025. "A Critical Perspective on Contemporary Budgeting Practices in German Companies," Palgrave Studies in Cross-disciplinary Business Research, In Association with EuroMed Academy of Business, in: Demetris Vrontis & Alkis Thrassou & Leonidas Efthymiou & Yaakov Weber & S. M. Riad Shams & Evangelos (ed.), Business in a Turbulent Era, Volume I, chapter 0, pages 243-266, Palgrave Macmillan.
    • Handle: RePEc:pal:pscchp:978-3-031-89798-6_11
    DOI: 10.1007/978-3-031-89798-6_11
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