Prior to beginning work on this discussion, please read the articles Who Needs Budgets?, Traditional Budgeting vs. Beyond Budgeting in the Financial Planning page of the CFO Edge website, and Traditional Budgeting Versus Beyond Budgeting: A Literature Review. In the words of GE's legendary ex-CEO Jack Welch, Jack Welch, "The budgeting process at most companies has to be the most ineffective practice in management. It sucks the energy, time, fun, and big dreams out of an organization (...) [and] brings out the most unproductive behaviors (...)" (Welch & Welch, 2005, p. 189). Some argue that the purposes of budgeting can be achieved without the conventional budgeting process. These companies espouse an idea called beyond budgeting that proposes to replace annual budgets with rolling forecasts of key performance indicators (Hope & Fraser, 2003). Others disagree, pointing out that the work of continuous planning is costlier than budgeting and that doing something continuously tends to make the process superficial. So, the jury is still out. But so far, GE still prepares budgets! Discuss in an initial post of 200 words whether the controversial concept of beyond budgeting is a better approach for financial planning and analysis (FP&A) than traditional budgeting. Guided Response: Review several of your peers' posts. In a post of at least 100 words, respond to at least two of your peers' posts in a substantive manner. Provide information that they may have missed or may not have considered about whether traditional or alternative budgeting methods are better and have a positive impact on businesses, or which has more practical usefulness. Do you agree with your peers findings? Why or why not? You are encouraged to post your required replies earlier in the week to promote more meaningful and interactive discourse in this discussion forum. Continue to monitor the discussion forum until 11:59 p.m. (Pacific Time) on Day 7. and respond with robust dialogue to anyone who replies to your initial post.