Evaluating Strategic Budgeting Process Homework Help

Evaluating Strategic Budgeting Process

Introduction

Dissatisfactions and criticisms have greatly increased in the last ten years or so over the budget’s purpose as a management and planning tool. Schuurman Randall and Berube (2011) give a number of purposes fulfilled by budgeting. They include complex organization performance awareness and performance assessment, communication, planning and resource allocation, just to state a few. Despite these clear purposes, these critiques state that the budget is not effective or competent in today’s changing health situations and lifestyles. First, the budget is either slow or is sometimes not in a position to detect problems. AIDitionally, unpredictable circumstances are never included in the budget or the process. For this state, the budget is usually out of date when it is most needed. Further, the critics aID that the budget consumes too much time in relation to its contribution benefits. Nevertheless, the budget cannot be rendered totally ineffective as a management tool. Its effectiveness over the years and its contribution towards today’s financial planning in the health sector prove that managers should include in their managerial tools.

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