Let's all think for a minute

I used to be completely amazed at the budgeting process in most companies. It struck me as odd that people only got together once a year to think. Every year, across this country, businesses come together to do a little internal dance with themselves: they prepare dozens of fancy spreadsheets, estimate new projects, do a little analysis of the market. This ritual yields a spending plan that forecasts out 12-15 months. When I first began work, I was completely amazed that people only got together to think once a year.

Now, I find it even more fascinating, because the budgeting process in most companies seems designed to make people only think they are thinking. The myriad spreadsheets, PowerPoint documents, mind numbing meetings and politicking only give the semblance of thinking. In fact, they seem to prevent real thinking (which isn't usually enabled by a fancy spreadsheet.) Does anyone else think this process is fundamentally broken?