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

Explain what assignment minimizes the total traffic flow, Please kindly sho...

Please kindly show step by step solutions. Six processes are to be laid out in six areas along a long corridor at Linda Babat Accounting Services. The distance between adjacent

Explain strategic analysis, Strategic analysis is an important first step i...

Strategic analysis is an important first step in setting strategic direction

500, find the optimal location for kilroy"s distribution center in this exp...

find the optimal location for kilroy"s distribution center in this expanded version of the problem

Explain vision statement and a mission statement, Should organizations have...

Should organizations have both a vision statement and a mission statement? If you were to lead an organization and you could have only one, a mission or vision statement, which wou

Compute the standard time for each work, The Arkade Company has decided to ...

The Arkade Company has decided to use a 15 percent allowance factor based on job time. Calculate the standard time for each work element and for the total job. The frequency equals

Explain why is it important to try to fill in the gaps, When interviewing, ...

When interviewing, why is it important to try to fill in the gaps in a candidate's employment history?

Describe any supplementary information needed by pseudocode, 1. Write pseud...

1. Write pseudo code that represents the abstract functions of the enqueue and dequeue operations. Define and explain any supplementary information needed by your pseudo code. 2. R

Suggest productivity measurements - operations manager, 1. Suggest producti...

1. Suggest productivity measurements which operations managers might consider important to be used in a:  (a) hotel  (b) University  (c) Department store  (d) Hospital

Compute a simple exponential smoothing forecast, The actual demand of the p...

The actual demand of the patients at Omaha Emergency Medical clinic for the first six weeks of the year are as follows: week Actual # of patients 1 65 2 62 3 70 4 48 5 63 6

Span of process - process design, 1. What 'span of process' choices do you ...

1. What 'span of process' choices do you think have been made by the Graduate School of Business? Answer: Most core administrative processes are carried out by GSB staff; some,

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