What are the consequences for failure to develop a consistent framework for defining budget choices in...
What are the consequences for failure to develop a consistent framework for defining budget choices in performance budget management?
Homework Answers
The consequences for a failure to develop a consistent framework for defining budget choices in performance budget management would be as follows:
1. Losses to the organisation.
2. Increased risk of failure of the business of the organisation.
3. Improper Budgets may lead to lower productivity thus impacting the consumers.
4. Regular revisions in the budget will be required since no proper framework was developed.
5. This could lead to unsatisfied employees where the performance is key indicator of the wages.
6. Turnaround in the management.
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