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BUDGETARY AND
MANAGEMENT CONTROL PROCESS IN NIGERIAN BREWERIES
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
Traditional budgeting has been criticized for a long time now
for its inadequacy as a means of management control. Criticisms concerning its
inadequate practices in a changing business environment emerged as early as the
mid 1980’s with Johnson and Kaplan (1987) seminal book relevance lost?
It called also note from the work of Allen (1998). Who stated
that the rapid changes in today’s business environment renders a rigid approach
to budgetary control obsolete. It is no longer helpful in his anything up to 15
months previously. He argues that amongst the requirements of a more
appropriate system, would be the building in of accountability to explain the
differences between actual and planned performance. This demands a more
immediate time frame of information reporting. Thus, there is a need to
integrate strategic management and budgeting. The works of C. Adams et al (200)
called be pointed to this regard. These author, conceptualized that to be
effective, budgets must aligned with the organization’s strategies, appropriate
strategic planning, and performance management process introduced, and must
involve processes that are value based, consequential and continuous.
The work of Tim Blumentritt (2006) called be viewed as
further contributions to the above stand point as he recognizes the need for
organizations to integrate strategic management and budgeting. What seems
rather unfortunate according to Tim Blumetritt (2006) is the fact that most
organizations still great the budgeting and strategic management processes
separately and also, a significant portion of small and medium sized
enterprises do not engage in strategic planning (Tim Blunetritt 2006, p 74).
Hence, the reason for this research work which is to
investigate the question; “what is the budgeting practice in Nigerian
manufacturing company?” The motivation for this study also comes from the work
of Herath and Indrani (2007) who investigated on the “roles of Budgetary
Control System (BCS) as a component of the Management Control System (MCS) in
creating and sustaining competitive advantage” and came up with a positive
conclusion. They concluded that though BCS called play a leading role in
establishing an efficient MCS for creating a sustainable competitive advantage,
budgeting will not function in isolation (P 79). “Instead, it can be used more effectively
oriented knowledge enterprise” (Herath and Indrani; 2007, P179)
The choice of Nigerian Breweries is related to the fact that
it is a manufacturing company in a very competitive industry and lots of
challenges faces Nigerian manufacturing companies as they struggle with
economic depression and high inflation resulting form IMF world bank led
structural adjustment plan (SAP) implemented by the Nigerian government. These
programs were initiated to promote the liberalization of the domestic economy,
operations efficiency, productivity growth, privately owned enterprises development,
economic growth, trade and investment. The economic liberalization policies
have nurtured on upon economy and have minimized the hurdles that the
manufacturing companies need to clear in order to obtain raw materials and
inputs, and other resources for productive activities. However, it has created
an unprecedented change in their business environment through increased
competition both in the domestic market and from need to development and
implement a well conceived strategic plan is order to be competitive in the
business environment.
1.2
Statement of the Problem
Nomatter ho well a plan is organized, it cannot produce
results on its own, thereby the need for control strategy through budgeting
practices to check compliance and excesses in the manufacturing industry with
particular reference to Nigerian Breweries. What is the budgeting practice in
the Nigerian manufacturing companies?
1.3
Objectives of the Study
The aim of this study is to investigate the management
control practice (budget being the tool for management control) in Nigerian
breweries. The objectives of this study include the following:
i. To
examine the present system of budgeting being practiced in Nigerian Breweries.
ii. To
examine how budgeting and control system effectively put to use in order to
enhance the accomplishment of the organizational set goals and objectives.
iii. To highlight some of
the problems that militates against better performance.
1.4 Research
Questions
i. What is the present
system of budgeting being practiced in Nigerian Breweries.
ii. How is budgeting and control system
effectively used in order to enhance the accomplishment of organization goal
and objectives.
iii. What are the
problems that militate against better performance.
1.5 Significance of the Study
The target groups of this study are managers, business
practionners and scholars in the field of business management. This will
enhance a deeper knowledge about how better a management control would be if
its essential tools are well integrated.
1.6 Scope
and Limitation of the Study
The scope of this study is limited to the 2005 – 2010
budgeting periods of Nigerian Breweries Plc. The estimates of both revenue and
expenditure of the above years will be examined. The process of budget
preparation, control, management control, implementation and review will be
covered by the study.
Limitation of the Study
The study is limited to Nigerian Breweries Plc. Kaduna and if
they are applying the concepts of budgeting in their operations and how well.
As the organization under consideration is a manufacturing firm having to
contend with competition, we cannot justify the credibility of all information
to be used for the study.
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