A Critical Analysis of Budgeting Processes from the
Pharmaceutical Industry and Beyond

J 2022

A Critical Analysis of Budgeting Processes from the Pharmaceutical Industry and Beyond

MAROTTA GIANFRANCO, Marotta; Philippe KRAHNHOF a Cam-Duc AU

Základní údaje

Originální název

A Critical Analysis of Budgeting Processes from the Pharmaceutical Industry and Beyond

Autoři

MAROTTA GIANFRANCO, Marotta; Philippe KRAHNHOF a Cam-Duc AU

Vydání

Journal of Applied Finance & Banking, Christchurch (New Zealand), Scientific Press International Limited, 2022, 1792-6580

Další údaje

Jazyk

angličtina

Typ výsledku

Článek v odborném periodiku

Obor

50200 5.2 Economics and Business

Stát vydavatele

Nový Zéland

Utajení

není předmětem státního či obchodního tajemství

Odkazy

URL

Označené pro přenos do RIV

Ano

Kód RIV

RIV/00216224:14560/22:00135005

Organizační jednotka

Ekonomicko-správní fakulta

DOI

https://doi.org/10.47260/jafb/1233

Klíčová slova anglicky

Finance; Budgeting; Innovation; Financial Trends

Štítky

rivok

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 11. 3. 2025 19:57, Mgr. Alžběta Karolyiová

Anotace

V originále

The pharmaceutical industry is challenged by the Industry 4.0 which facilitates numerous change processes. Innovations such as the Internet of Things (IoT), Internet of Services (IoS), Smart Factory, and Cyber-Physical Systems (CPS) are being employed (Ding, 2018, p. 155). These new circumstances stimulate change, innovations, competition, and partnerships. At the same time, technologies such as Big Data Analytics (BDA), artificial intelligence (AI), or Self-Service BI disrupt and enhance financial processes. In light of the changing environment, the discourses regarding budgeting effectiveness, managerial control, and organizational performance gain new importance. Organizations are dared to ensure solution-oriented approaches that solve budgeting problems that are detrimental to innovation and motivation whilst reinforcing slack-building behavior and inflexibility. In this context, the given paper focuses on budgeting challenges and opportunities with an emphasis on the pharmaceutical industry. As a result of an extensive review, the authors suggest a checklist on how to sustainably improve budgeting processes. Research data about financial planning cycles are collected from multiple sources such as practitioner literature and online presentations. The propositions made should be investigated with empirical verification and further comparisons with other organizations.

Přiložené soubory

Vol_12_3_3.pdf

Požádat o autorskou verzi souboru

Citovat

MAROTTA GIANFRANCO, Marotta; Philippe KRAHNHOF a Cam-Duc AU. A Critical Analysis of Budgeting Processes from the Pharmaceutical Industry and Beyond. Journal of Applied Finance & Banking. Christchurch (New Zealand): Scientific Press International Limited, 2022, roč. 12, č. 3, s. 35-53. ISSN 1792-6580. Dostupné z: https://doi.org/10.47260/jafb/1233.

@article{1840901,
   author = {Marotta Gianfranco, Marotta and Krahnhof, Philippe and Au, CamandDuc},
   article_location = {Christchurch (New Zealand)},
   article_number = {3},
   doi = {https://doi.org/10.47260/jafb/1233},
   keywords = {Finance; Budgeting; Innovation; Financial Trends},
   language = {eng},
   issn = {1792-6580},
   journal = {Journal of Applied Finance & Banking},
   title = {A Critical Analysis of Budgeting Processes from the Pharmaceutical Industry and Beyond},
   url = {http://www.scienpress.com/Upload/JAFB/Vol%2012_3_3.pdf},
   volume = {12},
   year = {2022}
}

TY  - JOUR
ID  - 1840901
AU  - Marotta Gianfranco, Marotta - Krahnhof, Philippe - Au, Cam-Duc
PY  - 2022
TI  - A Critical Analysis of Budgeting Processes from the Pharmaceutical Industry and Beyond
JF  - Journal of Applied Finance & Banking
VL  - 12
IS  - 3
SP  - 35-53
EP  - 35-53
PB  - Scientific Press International Limited
SN  - 17926580
KW  - Finance
KW  - Budgeting
KW  - Innovation
KW  - Financial Trends
UR  - http://www.scienpress.com/Upload/JAFB/Vol%2012_3_3.pdf
N2  - The pharmaceutical industry is challenged by the Industry 4.0 which facilitates numerous change processes. Innovations such as the Internet of Things (IoT), Internet of Services (IoS), Smart Factory, and Cyber-Physical Systems (CPS) are being employed (Ding, 2018, p. 155). These new circumstances stimulate change, innovations, competition, and partnerships. At the same time, technologies such as Big Data Analytics (BDA), artificial intelligence (AI), or Self-Service BI disrupt and enhance financial processes. In light of the changing environment, the discourses regarding budgeting effectiveness, managerial control, and organizational performance gain new importance. Organizations are dared to ensure solution-oriented approaches that solve budgeting problems that are detrimental to innovation and motivation whilst reinforcing slack-building behavior and inflexibility. In this context, the given paper focuses on budgeting challenges and opportunities with an emphasis on the pharmaceutical industry. As a result of an extensive review, the authors suggest a checklist on how to sustainably improve budgeting processes. Research data about financial planning cycles are collected from multiple sources such as practitioner literature and online presentations. The propositions made should be investigated with empirical verification and further comparisons with other organizations.
ER  -

MAROTTA GIANFRANCO, Marotta; Philippe KRAHNHOF a Cam-Duc AU. A Critical Analysis of Budgeting Processes from the Pharmaceutical Industry and Beyond. \textit{Journal of Applied Finance \&{} Banking}. Christchurch (New Zealand): Scientific Press International Limited, 2022, roč.~12, č.~3, s.~35-53. ISSN~1792-6580. Dostupné z: https://doi.org/10.47260/jafb/1233.

Přehled o publikaci