The Effects of Budgets in the Implementation of Operational Activities in Private and Public Corporations.

Author(s)

Muhammad Zubair Saeed , Abdul Amid Aziz Jalloh , Jun Yang ,

Download Full PDF Pages: 11-20 | Views: 307 | Downloads: 85 | DOI: 10.5281/zenodo.3463909

Volume 5 - March 2016 (03)

Abstract

The implementation of operational activities in private and public corporations is quite a critical endeavour and pose several challenges particularly when such corporations are clustered with intense competitive establishments. Considering the criticalities surrounding the implementation process, this study seeks to examine the effects of budgets in the implementation of operational activities in private and public corporations. The thrust for this qualitative research led to the retrieval of secondary information from sources published on the subject matter and other relevant facts that constitute the significance of the study. Analysis drawn from reviewed literatures established the relevance of accurate forecasting and planning in order to inaugurate strategic focus in the implementation process. Further critical examination disclosed the relevance of sub budgets that constitute a master budget which aid the implementation of operational activities such as human resource, finance, marketing and production/operations. In factual, budgets have positive effects in the implementation of activities in private and public corporations. This study is noteworthy to managers of operations, heads of corporations and also to chartered accountants as such study could aid them towards effective and efficient performance of their duties. So while we set the strategic budget we need to consult it all relevant departments also to fulfil its future needs to get efficient and effective outcomes. 

Keywords

 Budgets, Operational Activities, Implementation, Private and Public Corporations 

References

  1. Accounting Dictionary (2015), Activity-based Budgeting, retrieved on Monday 23rdth November, 2015. Available at: www.myaccountingcourse.com
  2. Armstrong M. (209), Armstrong‘s Handbook of Human Resource Management Practice, (11th Edition), Kogan Page Limited, UK
  3. Avis Jo, (2009), Performance Management, Elsevier Ltd, UK.
  4. Bianca Audra (1999-2015), Strategic Budget, retrieved on Monday 23rd November, 2015. Available at: www.ehow.com/info_7969843_definitionstrategic-budget.html
  5. Dayananda Don, Irons Richard, Harrison Steve, Herbohn John & Rowland Patrick (2002), Capital Budgeting, Financial Appraisal of Investment Projects, Cambridge University Press, UK
  6. Fields Edward (2002), The Essentials of Finance and Accounting for Nonfinancial Managers, American Management Association, USA.
  7. Harvey Campbell R. (2012), Cash Budget, retrieved on Monday 23rd November, 2015.Available at: www.investopedia.com/terms/c/cashbudget.asp
  8. Jan Irfanullah (2011-2013), Master Budget, retrieved on Monday 23rd November, 2015. Available at: www.accountingexplained.com/managerial/master -budget
  9. Kokemuller Neil, (2015), Tactical Planning in Business, retrieved on Monday 23rd November, 2015. Available at: www.smallbusiness.chron.com
  10. Kotler Philip, (2002), Marketing Management, Millennium Edition, Pearson Education Company, New Jersey 07458
  11. Kumar S. Anil & Suresh N.(2008), Production and Operations Management, New Age International (P) Ltd, New Delhi
  12. Michael Rodney,(2003-2015), Operational Plans for a Business, retrieved on Monday 23rd November, 2015. Available at: www.study.com/.../what-are-operational-plansfor-a-businessdefinition-types
  13. Miller Gerald J., Hildreth W. Bartley & Rabin Jack (2001), Performance-Based Budgeting, Westview Press, USA
  14. Olsen Erica, (2007), Strategic Planning for Dummies, Wiley Publishing, Inc., NJ
  15. Online Source (2015), Production Budget, retrieved on Monday 23rd November, 2015.Available at: www.accountingtools.com/production-budget
  16. Shim Jae K., Siegel Joel G. & Shim Allison I. (2012), Budgeting Basics and Beyond (4th Edition), John Wiley & Sons, Inc., New Jersey.
  17. Storey, J (1989) From personnel management to human resource management, in Storey, J (ed) New Perspectives on Human Resource Management, Routledge, London
  18. Sun Jinping & Lynch Thomas D. (2008), Government Budget Forecasting Theory and Practice, Taylor & Francis Group, USA.
  19. Ulrich, D and Lake, D (1990) Organizational Capability: Competing from the inside out, Wiley, New York
  20. Walther Larry M. & Skousen Christopher J. (2009), Budgeting and Decision Making, Bookboon.com

Cite this Article: