Full Project-THE IMPACT OF BUDGET ON STAFF PRODUCTIVITY
1.1 BACKGROUND TO THE STUDY
In majority of organization in Nigeria, budgeting is the most important management tool for performance and productivity and for organizations to perform well, resources must be well utilized and customers well served. To achieve such ends, all of an organization’s human and materials resources must be well utilized in the right way and the right time to create high quality products at minimal cost (Nash, 2008). Formally defined, productivity is a summary measure of the quantity and quality of work performance, with resources utilization taken into account. It can be measured at the individual, group, or organizations level. Productivity may be expressed as success into dimensions of staff performance, effectiveness and efficiency. Organization has been collective in order to achieve group or individual objectives. They serve as the means by which goods and services are provided beyond the boundaries of an individual or small group’s capacity of self-sufficiency. Such provision, also acknowledged, may be made for profit through some other more controlled framework of commercial or social provision (Dawson 1996). However, Budgeting on the other hand, is regarded as the most basic of all the management functions. It involves the selecting from among alternative future course of action for the organization as a whole and every department or section within it. Furthermore, it requires selecting organizational objectives and departmental goals, determines and provides a rational approach to pre-selected objectives. It strongly implies managerial innovation and the ability to create something (koontz 1980).
A budget is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It expresses strategic plans of business units, organizations, activities or events in measurable terms. Budget helps to aid the planning of actual operations by forcing managers to consider how the conditions might change and what steps should be taken now and by encouraging managers to consider problems before they arise. It also helps co-ordinate the activities of the organization by compelling managers to examine relationships between their own operation and those of other departments (Wikipedia, 2015).
The budget of a company is often compiled annually, but may not be a finished budget, usually requiring considerable effort, is a plan for the short-term future, typically allows hundreds or even thousands of people in various departments (operations, human resources, IT, etc.) to list their expected revenues and expenses in the final budget.
If the actual figures delivered through the budget period come close to the budget, this suggests that the managers understand their business and have been successfully driving it in the intended direction. On the other hand, if the figures diverge wildly from the budget, this sends an ‘out of control’ signal, and the share price could suffer.
The problem which underscores the need to undertake this study is aptly described by Koontz et al (1980) with all the interest in budgeting and all the sense of urgency brought about by modern super competition, is the danger that budgeting can become merely a costly fad, not very useful and even disillusioning. The implication of the above assertion is that not all organization that have a good budget eventually reaps the desired benefits.
Schermerhorn (1986) adds that most budgeting failures arise from their inability of managers to truly understand the budget and to implement it well. Problems have been identified in the budgeting process. For instance, insetting objectives, organizations find it difficult to involve employees, shareholders, customers etc. closely related to this is the issue associated with the likely environment different variables and events.
1.2 STATEMENT OF THE PROBLEM
Budgeting underlines predicting and quantifying the future in financial terms and predicting the future needs for finance including the staff’s financial remuneration. Therefore, budgeting is situated between the disciplines of finance and planning. Budgeting data are the most tangible decision causes considered by decision makers. It has been used in the short-term for the operational planning in standard costing. It has also been developed to support strategic planning with firm planning and to develop the long term plan. However, the researcher is examining the effect of budgeting on staff productivity.
1.3 OBJECTIVES OF THE STUDY
The following are the objectives of this study:
1. To examine the effect of budgeting on staff productivity.
2. To identify the different types of budgeting.
3. To identify factors that can enhance staff productivity.
1.4 RESEARCH QUESTIONS
1. What is the effect of budgeting on staff productivity?
2. What are the different types of budgeting?
3. What are the factors that can enhance staff productivity?
HO: There is no significant relationship between budget and staff productivity.
HA: There is significant relationship between budget and staff productivity.
1.6 SIGNIFICANCE OF THE STUDY
The following are the significance of t6his study:
1. Outcome of this study will educate corporate organizations in Nigeria on the benefits of budgeting and how it can be used to boost employee productivity.
2. This research will also serve as a resource base to other scholars and researchers interested in carrying out further research in this field subsequently, if applied will go to an extent to provide new explanation to the topic.
1.7 SCOPE/LIMITATIONS OF THE STUDY
This study on the impact of budget on staff productivity will cover all types of budget process that can improve employee performance leading to improved productivity.
LIMITATION OF STUDY
Financial constraint– Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
Time constraint– The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.
Dawson (1996) Analysing Planning in an Organization, a Journal of Management, university of London, Macmillan Press, Lagos
Koontz, H. O‟Donnell, C and Weibrich, H (1980) Management in broader perspective, Management of Multidisciplinary study, Tokyo Macgraw Hill Publication limited.
Nash, L. (2008) Mission Statement Mirrors and Windows, Massachusetts, Harvard. Newman, W. (1963) Administrative Action, the techniques of Organization and Management 2nd edition, New Jersey, Prentice Hall
Schermerhorn, J (1986) Management for Productivity, a textbook 2nd edition pg 76-89 New York,John wile and sons Publication limited.
Get the Complete Project
This is a premium project material and the complete research project plus questionnaires and references can be gotten at an affordable rate of N3,000 for Nigerian clients and $8 for International clients.
You can also check other Research Project here:
- Adult Education
- Agricultural Science
- Banking & Finance
- Biblical Theology & CRS
- Biblical Theology and CRS
- Biology Education
- Business Administration
- Computer Engineering Project
- Computer Science 2
- Criminology Research Project
- Early Childhood Education
- Economic Education
- Education Research Project
- Educational Administration and Planning Research Project
- English Education
- Environmental Sciences Research Project
- Guidance and Counselling Research Project
- History Education
- Human Kinetics and Health Education
- Maritime and Transportation
- Marketing Research Project 2
- Mass Communication
- Mathematics Education
- Medical Biochemistry Project
- Organizational Behaviour
- Other Projects
- Political Science
- Public Administration
- Public Health Research Project
- More Research Project
- Transportation Management
Need a Project Writer for a Different Topic
- MSC PROJECT WRITING SERVICES
- MBA RESEARCH PROJECT WRITING SERVICES
- Research Project Writing Services in Lagos Nigeria (Professional Writers) -Law, MSc, MBA,PhD, Dissertations, Thesis, Assignment, Speech
- Masters Research Project Writer in Lagos Nigeria
- MBA Research Project Writer in Lagos Nigeria
- LOOKING FOR A WRITING SERVICES FOR AN URGENT ASSIGNMENTS OR PROJECT WORK
- PROFESSIONAL WRITING SERVICES IN LAGOS NIGERIA (TERM PAPER, SPEECH WRITING, ASSIGNMENT, THESES, DISSERTATIONS, RESEARCH PROPOSAL, PROJECT WRITING SERVICES etc)
- BUSINESS ADMINISTRATION RESEARCH PROJECT WRITER IN LAGOS NIGERIA
- CONSULT A RESEARCH PROJECT WRITER IN LAGOS NIGERIA (PH.D, MBA, MSC, M.ED, BSC)
- MANAGEMENT RESEARCH PROJECT WRITER IN LAGOS NIGERIA
- Education Research Project Writer in Lagos Nigeria
- Environmental Sciences Research Project Writer in Lagos Nigeria
- Guidance and Counselling Research Project Writer in Lagos Nigeria
- Human Kinetics and Health Education Project Writer in Lagos Nigeria
- Early Childhood Education Research Project Writer in Lagos Nigeria
- Christian Religious Studies(CRS) Research Project Writer in Lagos Nigeria
- Educational Administration and Planning Research Project Writer in Lagos Nigeria
- Political Science Research Project Writer in Lagos Nigeria
- Accounting Research Project Writer in Lagos Nigeria
- Economics Research Project Writer in Lagos Nigeria
- Management Research Project Writer in Lagos Nigeria
- Marketing Research Project Writer in Lagos Nigeria
- Public Administration Research Project Writer in Lagos Nigeria
- MBA Research Project Analysts
- In Need of MBA Research Project Writer in Nigeria
- MBA Dissertation Research Project Writer
- MBA Project writer
- EDUCATION DEPARTMENT PROJECT WRITING SERVICES
- BACHELOR OF SCIENCE (BSC) DEGREE PROJECT WRITING SERVICES(B.ED,B.A,B.SC)
- MASTER OF BUSINESS ADMINISTRATION (MBA) RESEARCH PROJECT WRITING SERVICES
- MASTER OF SCIENCE (MSC) RESEARCH PROJECT WRITING SERVICES
- POST GRADUATE RESEARCH PROJECT WRITER
- POST GRADUATE DIPLOMA (PGD) RESEARCH PROJECT WRITER
- MASTER RESEARCH PROJECT WRITER
- MASTER DEGREE RESEARCH PROJECT WRITING SERVICES
- POSTGRADUATE RESEARCH PROJECT WRITING SERVICES
- MASTERS RESEARCH PROJECT WRITING SERVICES
- RESEARCH PROJECT WRITER
- EXPERT IN RESEARCH PROJECT/THESIS/DISSERTATION WRITING SERVICES IN LAGOS NIGERIA
- HIRE A PROFESSIONAL BSC/HND RESEARCH PROJECT WRITER
- HIRE A PROFESSIONAL MBA/MSC RESEARCH PROJECT WRITER
- HIRE A PROFESSIONAL THESIS WRITER IN LAGOS NIGERIA
- SC/M.SC/MBA/PGD RESEARCH PROJECT WRITER IN LAGOS NIGERIA
- Master Degree Research Project Specialist/Writer in Lagos, Nigeria
- Hire A Research Project Writer in Lagos Nigeria
- Research Project Specialist in Lagos, Nigeria