(a) ... corporate planning and budgetmg are complementary, rather than the former superseding the latter.·

Compare the aims and main features of 'corporate planning'

and 'budgeting' systems. (12 marks)

b) The aims of zero-base budgeting have been described recently in the following terms: 'Zero-base budgeting is a general management tool that can provide a systematic way to evaluate all operations and programmes; a means of establishtng a working structure to recogntse priorities and performance measure for current and future plans; in essence. a methodology for the continual redirection of resources into the highest priority programmes. and to explicitly identify tradeoffs among long-term growth, current operations, and profit needs.'

Explain how a system of zero-base budgeting works, and to assess its likely success 10 attaintng the aims set out above.