The impact of budgeting and budgeting control on the performance of manufacturing companies in Nigeria

The impact of budgeting and budgeting control on the performance of manufacturing companies in Nigeria

Author by Dr. Tunji Siyanbola

Journal/Publisher: Journal Of Business Management And Social Sciences Research

Volume/Edition: 2

Language: English

Pages: 8 - 16

Abstract

This study, the impact of budgeting and budgetary control on the performance of manufacturing company in Nigeria, was conducted using Cadbury Nigeria Plc, as case study. Since wants are plenty while resources are limited, every organisa-tion tends to find means by which it can get what it wants with the limited resources at its disposal. Therefore, firms seek to adopt the concept of budgeting and budgetary control to satisfy their needs at the least possible cost and at the same time fulfill their stewardship obligations to the numerous stakeholders. We adopted a descriptive research design with data gathered through questionnaire administered to respondents. Non-parametric tool of chi square was employed to analyse the data. Hypotheses were tested and analysed on a 5% level of significance and it was revealed that budgeting is a useful tool that guides firms to evaluate whether their goals and objectives are actualised. Considering the changing environ-ment in which firms now operate, it can be concluded that budget, which is a continous management activity, should adapt to changes in the dynamic business environment.


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