THE IMPACT OF BUDGETING ON STRATEGIC RESOURCE MANAGEMENT
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- 1-5 Chapters
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- Recommended for : Student Researchers
- NGN 3000
THE IMPACT OF BUDGETING ON STRATEGIC RESOURCE MANAGEMENT
This study aims to: (1) investigate the impact of budgeting on strategic resource management, (2) identify key budgeting practices that support resource management, and (3) evaluate the benefits and challenges of integrating budgeting with resource management. A survey design was employed to gather data from strategic planners and financial managers. Using Taro Yamane's formula, a sample size of 378 participants from corporate organizations in Enugu was determined, ensuring comprehensive insights. The corporate sector was chosen for its structured resource management processes and potential for budgeting impact. The reliability coefficient score of the survey was 0.87. Findings indicate that effective budgeting significantly enhances strategic resource management by providing clear financial frameworks for resource allocation, improving efficiency, and ensuring alignment with strategic goals. Recommendations include integrating resource management processes with budgeting cycles, providing training on effective resource management techniques, and continuously monitoring and adjusting budgets to ensure optimal resource use.
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