The implementation of budgeting in a world class manufacturing environment may be affected by the impact of (i) a total quality ethos (ii) a just-in-time philosophy and (iii) an activity based focus. Briefly describe the principles incorporated in EACH of (i) to (iii) and discuss ways in which each may result in changes in the way in which budgets are prepared as compared to a traditional incre- mental budgeting system. (15 marks)