. Based on your literature findings (above), critically evaluate the comment that ‘traditional budgeting practices are...

. Based on your literature findings (above), critically evaluate the comment that ‘traditional budgeting practices are constraint on creativity, and the time and energy spent on budget formulation is better spent elsewhere’.

Expert Solution

Budgeting is the process of preparing the estimate statement of expenses and revenues.The statement given above that is "traditional budgeting practices are constraint on creativity and time and energy spent on budget formulation is better spent elsewhere" is totally correct as explained below:

traditional budgeting is not appropriate as it is wasteful conventional planning which expends excessively time and an excessive number of administration assets.
it takes up lot of time due to the use of the spreadsheets which most of the organisations do not use because spreadsheets contain deficiencies like data entry errors,version control issues
it is constraint on creativity as the manager will apply same techniques over the period of time and avoid to take up the risk of new techniques.
also it fails to motivate the people and encrouges unprofessional attitude,strengthens bureaucracy etc
it takes too much time therefore engery of the manger is wasted alot in these budgets.

jeff jeffy answered 1 year ago

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