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The budgeting process does come in for a number of critisms, such as: It is too cubersome a process which occupies consideratible management role. It

The budgeting process does come in for a number of critisms, such as:

It is too cubersome a process which occupies consideratible management role.

It concentrates unduly on short-term financial contol.

It has undesirabke effects on the motivation of managers.

It emphasises too much on the formal organisation structure.

A) Explain these various crictisms.

(12 marks)

B) Explain what changes could be made in response to these crictisms in order to improve the budgeting process.

(24 marks)

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