However, in Nigeria the mention of the word budget usually connotes a link with the public sector of the economy. It is a technique which is widely used in business and which affects all levels of management.
(1985) stated that budgeting entails the setting of targets. This involves to a very large extends some budgeting. The economic concept of resource being scarce relative to demand for them required that every individual prepare a scale of preference, arranging in a certain order how resources are going to be used or apportioned. THE GENERAL BACKGROUND TO THE SUBJECT MATTER: To carry out this investigation, the researcher carried out a survey through interviews and responses of the fifteen key officials responsible for planning and implementing the budgeting steps.īased on the investigation carried out, it was noted that Emenite, Ltd, and most companies operate in partnership. The effect is that corporate efficiency has declined, profit maximization opportunity thrown over board, while planning and managerial inefficiency are installed.īecause of the above reasons, this research work was effect looked into budgeting as managerial tool for panning, controlling and decision making with particular reference to Emenite Limited approved budgetary system, in the panning, controlling and decision-making in the company. It does seem that this very important implement of work is not efficiently used by many mangers, especially those in the private sector of our economy. A good budgeting system could aid management in decision-making, performing the controlling and planning functions. The usefulness of budgeting, as a management tool cannot be over emphasized.
Post Views: 94 BUDGETING AS A MANAGEMENT TOOL FOR PLANNING, CONTROLLING AND DECISION MAKING (A CASE STUDY OF EMENITE LIMITED ENUGU)
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