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THE IMPACT OF BUDGETING
PLANNING AND CONTROL ON PRODUCTIVITY OF AN ORGANIZATION
CHAPTER ONE
INTRODUCTION
1.1 Background of
the Study
For any organization to operate meaningfully there has to be
clear direction of where it is leading to or what it is aiming to achieve the
standard of objectives and a means of monitoring derivatives from standard
requires. These considerations can only be met through budgeting, planning as
well as controlling.
A budget has been defined as a quantitative plan usually in
monetary terms for the forth coming accounting year of the ensuring period.
Budgeting planning/short term planning is the process of preparing detailed,
short term (usually 1 year) plans for the function, activities and departments
of the organization thus converting the long term co-operate plan into yearly
action. Budgeting services as a very important tool for planning and control
increase in productivity, in that budgeting aids planning for the future, if
services as a control function through management by exception which is the
assessment of performance for the purpose of controlling. It helps in
co-coordinating of the work management in order to coordinate the activities of
the organization.
1.2 Statement of
Problem
Generally, organization whether manufacturing or service,
required good budgeting for increasing productivity. Budgeting as a tool for
planning and controlling does increase productivity. This is the problem of
qualified personnel that are required for the purpose of preparation
implementation and execution of budgeting, areas of responsibility will be
decided by management and also budgeting pressure is another problem. The study
will therefore be focused on whether budgeting contribute towards increasing
productivity in organization or not.
1.3 Objectives of
the Study
In view of the glaring problems as mentioned above the
researchers main purpose of this study is to look carefully as the system of
budgeting. This will enable the researcher to discover and bring to light any
loop hole and lapses that may contribute on their little ways to aggregate
private sector problem. Therefore, the objectives of the study are as follows:
i. To
examine the system of budgeting, planning and control in order to assess
adequacy in productivity.
ii. To find
out the extent budgeting serves in planning and increasing productivity.
iii. To examine
facts about the organization and it mode of operation with regards to
productivity.
iv. To identify
the fact about operation and mode of operation.
1.4 Significance
of the Study
The significance of this study is essential on its benefit
and contribution to individual and organization first and foremost. This study
will serve as important objectives reference to top executive of organization
who wants to achieve efficiency in production. It will also be significant to
students who want to carry out further research on the area of study secondly,
the finding of this study will be useful to both the organization and any other
similar organization as well as general public in the field as it depicts the
nature of problem associated with budgeting in this part of the country.
Finally, this study will also cover the public as an essential requirement for
the award of higher national diploma.
1.5 Research
Questions
The following questions were formulated to serve as parameter
for the measurement of the objective earlier stated.
i. How
effective is budgeting, planning and control system in order to assess adequacy
in productivity?
ii. What
extent does budgeting serves in planning and increasing productivity?
iii. What are
the fact about the operation and it mode of operation in NOCACO with regard to
productivity?
iv. What are
the facts about the operation and it mode of operation?
1.6 Scope of the
Study
The study is restricted to cover the private sector, and
suggest solution and recommendation on the topic of discussion which is
budgeting as an effective tool for planning, control for increasing
productivity.
1.7 Limitation of
the Study
Like any other project, this study is not without
limitations, the study emphasis being of the budgeting as an impact of
budgeting planning and control on productivity in Northern Cable processing
manufacturing company, Kaduna. Some of the difficulties encountered in carrying
the study include:
a) Inability
of the researcher to obtain adequate and relevant data from the organization.
Especially on sensitive economic issues that organization are secretive about.
b) Financial
constraint is another limitation, finance have bee inadequate such the
researcher has been unable to move around and get data and material required
for the study.
c) Material
such as company documents (official) which involves their operation and
procedure of the organization activities have been inadequate due to lack of
proper record keeping and equipped libraries.
d) The
uncompromising nature of most respondents especially to questionnaires and
verbal question.
e) Lack of
time to carryout out the persona observation of the enterprise operations
properly.
f) Sometimes
the statistical method used for data analysis might not be best available.
1.8 Definition of
Terms
§ Budget: A budget
has been defined as a quantitative plan usually in monetary terms of the
forthcoming accounting year or for the ensuing period.
§ Budgeting:
Budgeting planning is short term planning is the process of preparing detailed
short term (usually one year) plan for the function activities and department
for the organization, thus converting the long term corporate plan into yearly
action.
§ Zero Base
Budgeting (ZBB): Is formal defined by the (Chartered Institute of Management
and Accounting) CIMA thus a method of budgeting whereby all activities is
revaluated each time a budget is set.
§ Programme
Planning and Budgeting System (PPBS): Is a radical approach to budgeting based
programme which are grouping of activities with common objectives.
§ Budget Manual:
The budgeting manual is an important aid to communication and instructional
information manual not a list of agreed financial budget.
§ Flexible
Budgeting: A flexible budget is one which is designed to dynast the budget cost
level of suit the level of activities actually attained.
§ Planning:
Planning can be defined as the establishment of activities and the formulation,
evaluation and election of the polities strategies tactics and action required
to achieve these objectives.
§ Strategic
Planning: The formulation, evaluation and selection of strategies for the
purpose of preparing a long term plan to attain objectives.
§ Tactical
Planning: Is the process of preparing detailed short term (usually one year)
plans for the functions, activities and department of the organization thus
converting the log term corporation plan into action.
§ Control: Control
is concern with the different use of resources to achieve a previously,
determine objective or set of objective within a plan productivity (total
factor basis).
§ Productivity:
Productivity can be expressed on a total factor basis or on a partial factor
basis productivity on a total factor basis.
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