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How does the Citibank budgeting process work? Is this a Participative process?
Citibank applies two management processes to control its international branches: sovereign risk limits review and operating budget review. Its budgeting process is a bottom-up. Although it starts from the headquarters’ instructions which guide the timing, format and issues needed to be addressed, budgeting is not obliged to attain specific targets. The corporation’s long-term goals are shared. Some international branches such as Indonesia, however, often establish their own targets since they traditionally excel the corporation’s goal. Like the sovereign risk limits setting process, the country managers seem to have responsibility to modify their goals based on a better understanding of their own branches about the economic conditions and political relations.
A revenue budget is the usual starting point for the operating budget because many costs depend on the bank’s operations which generate......

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Approximate Word Count: 1088
Approximate Pages: 5 (250 words per double-spaced page)

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