Maeil Business Newspaper
Every company plans budgeting each year. Many base the next year’s budgeting on the previous year, but recently ‘ZBB’ (zero-based budgeting) is attracting attention. The theory of ZBB, approaching budgeting from zero-base and determining the budget need for each cost ítem, emerged in the 1970s. With recent successes outside Korea, many companies are keen on understanding its real benefits.