THE INFLUENCE OF ROLLING BUDGETS ON BUSINESS AGILITY
This study aims to: (1) investigate the impact of rolling budgets on business agility, (2) identify the benefits of adopting rolling budgets, and (3) evaluate the challenges associated with rolling budgeting. A survey design was employed to collect data from financial managers and operational leaders. Using Taro Yamane's formula, a sample size of 376 participants from IT companies in Lagos was determined, ensuring comprehensive insights. The IT sector was chosen for its dynamic business environment and need for agile budgeting practices. The reliability coefficient score of the survey was 0.86. Findings indicate that rolling budgets significantly enhance business agility by allowing firms to adjust financial plans in response to changing conditions, leading to improved responsiveness and operational flexibility. Recommendations include adopting rolling budgeting practices, training managers on the benefits of rolling budgets, and continuously monitoring and adjusting budgets to respond to business changes.
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