(a) corporate planning and budgeting are complementary, rather than the former super- seding 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 manage- ment tool that can provide a systematic way to evaluate all operations and programmes; a means of establishing a working structure to recognise priorities and performance measures for current and future plans; in essence, a methodology for the continual redirection of resources into the highest prior- ity programmes, and to explicitly identify tradeoffs among long-term growth, current operations, and profit needs.' Explain how a system of zero-base budget- ing works, and to assess its likely success in attaining the aims set out above. (13 marks)