Why should i encourage my staff to develop budgets-standard

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Assignment:

Measuring performance

Ethan Coleman, the president and CEO of High-Tech Inc., recently stated:

We are in the business of innovation! If we don't innovate and encourage creative thinking in our employees, we are doomed.
Why should I encourage my staff to develop budgets and standards? This will limit their creativity. Budgets, performance measures and cost control are for traditional manufacturing organizations- Not for high-tech industries.
Do you agree with what Ethan says? Do you think it is important to have a management control system in high-tech companies?

Reference no: EM133458384

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