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

Describe how the operations function is linked with other, Q1: Explain how ...

Q1: Explain how the operations function is linked with other business functions in an extended enterprise. Discuss several specific functions and interactions. Q2: What are the

Explain exceed the amount invested in auto loans, A bank is attempting to d...

A bank is attempting to determine where its assets should be invested during the current year. At present, $500,000 is available for investment in bonds, home loans, auto loans, an

Explain biggest challenges are to a hpt professional, What do you think the...

What do you think the biggest challenges are to a HPT professional in the Analysis phase of a project? Why?

Explain the employer is not vulnerable to a charge, Albert is an assistant ...

Albert is an assistant store manager for a national discount retailer. When Albert was denied a promotion to store manager he filed a claim based on religious discrimination with t

What is meant by perpetual inventory system?, Ask question #What is meant b...

Ask question #What is meant by perpetual inventory system?Minimum 100 words accepted#

Explain importance of quality increased or decreases, As lean production me...

As lean production methods reduce changeover and setup times and thus enable smaller economic lot sizes and less work-in-process inventory, is the importance of quality increased o

What is the influence of losses in the process in inspection, What is the i...

What is the impact of losses in the process in Inspection and Final Test?

Explain repeat a signal form router to a workstation, On a 100BaseT Etherne...

On a 100BaseT Ethernet network, what is the maximum number of hubs that can be used to repeat a signal form a router to a workstation? a. 1 b. 2. c. 3 d. 4

Production and Planning Control, A company is setting up an assembly line t...

A company is setting up an assembly line to produce 192 units per eight-hour shift. The following table identifies the work elements, items, and immediate predecessors. Questions:

Scope overview as well business case sections of the project, The scope ove...

The scope overview and business case sections of the project charter provide the high-level "what and why" of the project

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