What benefits would Ritz-Carlton have from the introduction of employee participation in budgeting?
Date Submitted: 09/08/2004 17:35:28
Category: / Business & Economy / Accounting
Length: 3 pages (863 words)
Category: / Business & Economy / Accounting
Length: 3 pages (863 words)
It has been argued that employee participation in the budgeting process will improve firstly staff motivation and following on from this the quality of budget decisions and the efforts of individuals to achieve their budget targets. This does however largely depend on the culture of the organisation, the personality of the individuals involved and the nature of the task or budget process. Participation budgeting is not right for everyone and all companies, the situation needs …
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…is unlikely that they will have an extensive knowledge of the changes in health and fitness equipment, a member of the health and fitness team however would more than likely be more able offer information on this subject.
As can be seen there are several benefits to the chain of adopting this system, the company is a good match for the criteria and it would be advisable for the chain to look into this system.
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