Asked by joban preet Thind on May 12, 2024
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A budget can be an effective means of communicating management's plans to employees.
Communicating Management
The process of conveying strategic decisions and policies from management to lower-level employees and stakeholders to ensure alignment and understanding.
Effective Means
Methods or strategies that achieve desired results or objectives efficiently.
Budget
An estimate of income and expenditure for a set period of time, guiding financial planning and performance evaluation.
- Ascertain the importance and positive impacts of enlisting different levels of management in the budgeting procedure.
- Acknowledge the constructive influence of budgeting in improving employee motivation and performance assessment.
Verified Answer
Learning Objectives
- Ascertain the importance and positive impacts of enlisting different levels of management in the budgeting procedure.
- Acknowledge the constructive influence of budgeting in improving employee motivation and performance assessment.
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