Merits/advantages
- It helps the management to concentrate their attention on significant matters that is Not proceeding according to
plan.
- It helps to improve communication, better understanding and harmonious relationship among the employees.
- It helps to coordinate the activities of all the department in an organization.
- It helps the management to think ahead and devise effective and efficient ways of handling the resources.
- It helps in minimizing the cost and profit maximization.
Limitations
- Its success depends on cooperation or operation of staffs.
- It's built on subjective estimate .
- it's very expensive to operate a budget.
- it may take a longer time to achieve.
- It can lower the morale and productivity if the target are Not realistic.
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