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Managers may be reluctant in a budget setting due to several factors, including fear of accountability for overspending, concerns about resource allocation impacting their team's performance, and the pressure to meet unrealistic targets. Additionally, the budgeting process can be time-consuming and may require compromises that could limit their operational flexibility. This reluctance can stem from a desire to maintain control over their departments and ensure that their strategic goals are not undermined by rigid financial constraints.
What else can I help you with?
Why managers reluctant to participate fully in setting budgets?
Present a response on why managers may be reluctant to fully participate in setting up budgets. Let it be in form of a report addressed to the board of directors
Why manager reluctant to participate in budgeting?
Some managers are reluctant to participate in budgeting because they do not like to discuss financial matters. They may also feel like developing a budget stops flexibility in an organization. Some want to control all the money without any restraints.
Why manager reluctant to participate fully in budgeting?
Managers may be reluctant to participate fully in budgeting due to a lack of time and resources, which can make the process seem burdensome. Additionally, they might feel that their input won't significantly influence the final budget or that the budgeting process is too rigid, limiting their ability to adapt to changing circumstances. Fear of accountability for budget variances can also discourage active involvement, as managers may worry about the repercussions of not meeting financial targets.
Why some managers are reluctant to delegate job to subordinates?
Some managers are reluctant to delegate tasks due to a lack of trust in their subordinates' abilities, fearing that the work may not meet their standards. They may also feel insecure about losing control or authority, leading to a desire to maintain a hands-on approach. Additionally, time constraints can deter managers from delegating, as they believe they can complete tasks more efficiently themselves rather than taking the time to train others.
Are project managers responsible for budget requirements?
Yes & No. The Project Manager is responsible for running the project within budget but the overall project budget is allocated by the Senior Management or in some cases the Customer. The project manager works on the budget given to him and then manages the project in a way that he is within budget
Why managers reluctant to participate fully in setting budgets?
Present a response on why managers may be reluctant to fully participate in setting up budgets. Let it be in form of a report addressed to the board of directors
Why manager reluctant to participate in budgeting?
Some managers are reluctant to participate in budgeting because they do not like to discuss financial matters. They may also feel like developing a budget stops flexibility in an organization. Some want to control all the money without any restraints.
Why manager reluctant to participate fully in budgeting?
Managers may be reluctant to participate fully in budgeting due to a lack of time and resources, which can make the process seem burdensome. Additionally, they might feel that their input won't significantly influence the final budget or that the budgeting process is too rigid, limiting their ability to adapt to changing circumstances. Fear of accountability for budget variances can also discourage active involvement, as managers may worry about the repercussions of not meeting financial targets.
How are senior managers personally involved in HSE managemen?
Senior managers overseeing the whole project, approving budget for HSE aspects.
When setting up a budget what do you need to keep in mind?
what do you need to keep in mind when setting up a budget
How is budget committee and budget manual related?
Budget committee comprise top managers who draft budget manual and budger calendar, and also review and approve budget for operational departments.
Advantage of rolling budget?
A rolling budget helps mask overspending. With a rolling budget, managers and employees can correct spending problems on a daily basis.
Disadvantages of participation in the budget setting process?
participative budget is also called bottom-up budget. So, u just find the disadvantages of bottom-up budget. 1. slow 2.budget snack 3. Not setting budget in line with the aim of the firm
How much does a restaurant general managers?
Restaurant general managers' duties are payroll, accounting, and maintain the restaurant budget. Restaurant general managers average a salary of $49,000 per year.
How does management use an operating budget How do they use an activity based budget What are the similarities and differences between these types of budgets?
The key to a successful financial reporting system is an operating budget in order to compare your actual operating results. Managers use the operating budget for planning in setting goals and developing strategies to achieve those goals. Budget will demonstrate how resources will be developed to implement strategy. Managers use the operating budget for strategy, long-run planning strategic plans, long-run budgets, short-turn planning operating plans, and short-run budgets. The operating budget will aid management for a specific period and [b] an aid to coordinating that needs to be done to implement that plan.
What should you do if your initial budget doesn't balance?
you restart setting up another budget
What is advantages of fixed budgets?
A fixed budget will help businesses manage finances. With a fixed budget managers will not have the ability to spend extra funds.
