3 Better budgeting in recent years may have been seen as a movement from ‘incremental budgeting’ to alternative budgeting approaches. However, academic studies (e.g. Beyond Budgeting – Hope & Fraser) argue that the annual budget model may be seen as (i) having a number of inherent weaknesses and (ii) acting as a barrier to the effective implementation of alternative models for use in the accomplishment of strategic change. Required: (a) Identify and comment on FIVE inherent weaknesses of the annual budget model irrespective of the budgeting approach that is applied. (8 marks)