Explain limitations of budgets, Operation Management

Assignment Help:

Explain limitations of budgets.

Limitations of Budgets:

(i) Since budget is based on calculates approximately, that is, estimated sales, estimated business conditions and estimated costs. It may require periodic revisions since estimates may not come out to be percent true.

(ii) A budget may not work when the idea of budgeting is not sold appropriately to different sections of the business. Only the persons working in various sections can make an established budget, a success. Therefore, it should be a cooperative budgeting.

(iii) A budget cannot work till the desire to make this work is established in the minds of persons working in the various sections of a business concern.


Related Discussions:- Explain limitations of budgets

What is decomposition principle, Solve the following linear program using t...

Solve the following linear program using the decomposition principle: minimize z = ?2x1 ? 5x2 subject to x1 + 2x2 = 13.5 x1 + 3x2 = 18.0 x1 ? 9 x2 ? 5 x1, x2 ? 0. Let the first two

What does operations function contribute to business, 1. What does the oper...

1. What does the operations function contribute to the business?  Answer: The answer must be that the operations function, whether it be to manufacture products or provide servi

Explain how would you evaluate this contest, Part 2: Case Floor-Shine Clea...

Part 2: Case Floor-Shine Cleaning Products Case Focus: This case illustrates the use of a sales contest in an attempt to boost sales. Several potential problems resulting fro

Define the benefits to corporate america of having a global, Discuss the be...

Discuss the benefits to Corporate America of having a globally diverse workforce.

Explain promote the transfer of new products across nations, 1. What trigge...

1. What triggered the new product strategy at Minnesota Bio labs? 2. What prediction would you make for the success of getting the country general managers in Europe and Japan to a

Explain how can advertisers use the vals information, How can marketers use...

How can marketers use the VALS information to serve consumers better? Name five types of products or services for which the VALS information would be particularly useful. Explain.

Travel charts and string diagrams, Travel Charts and String Diagrams T...

Travel Charts and String Diagrams The use of travel charts has already been described under facility layout (see figure on page 140). A string diagram (see figure below) is us

Influence of the product life cycle - operation strategy, Influence of the ...

Influence of the Product Life Cycle - Operation Strategy The influence of the product life cycle on operational performance objectives are: The life cycle curve shown in th

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd