Ow effective is budgeting as a performance measurement tool
Proposed Aims and Objectives:
The aim of this project is to see how budgets are used in an organisation to determine performance and to evaluate the effectiveness of traditional budgeting as a performance measurement tool. Is it possible for managers to directly influence and enable the budget to improve the organisations performance? Budgeting forces management to plan ahead and to communicate these objectives to those at lower levels of the organisation. However are there any factors that managers should look at which are not taken into account, budgeting sets out the financial and operational responsibilities of supervisors and managers making them responsible for meeting those targets in there departments however there may be factors which are not set out in the budget process, financial or non financial which may have an impact on performance but may not be incorporated in the budget.
To fulfil the aim of this project the following will have to be looked at:
-Traditional budgeting methods and the effectiveness of these as well as limitations
-Reasons for organisational performance and the relationship between budgets and performance measurement.
The ineffectiveness of budgets and how this is overcome or should better budgeting practices be adopted, time for organisations to change the way this is done (beyond budgeting).
THIS IS A ROUGH IDEA OF THE AIMS AND OBJECTIVES.
As long as it is to do with budgeting, please do what you think is best and beyond budgeting does not need to be looked at if you do not think this is appropriate.
I have some key dates:
Draft Literature Review needs handing in on the 11th of march if you could give this to me on the 10th. This needs to be around 2000 words but is a draft so can be less, at this point.
Presentation of Research 25th March
Im going to need a draft and then final