THE IMPACT OF BUDGETING ON ORGANIZATIONAL SUSTAINABILITY
- Project Research
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- NGN 5000
THE IMPACT OF BUDGETING ON ORGANIZATIONAL SUSTAINABILITY
The objectives of this research are to: (1) analyze the impact of budgeting on organizational sustainability, (2) identify key budgeting practices that support sustainability, and (3) evaluate the benefits and challenges of sustainable budgeting. A survey design was chosen to gather insights from sustainability managers and financial planners. Using Taro Yamane's formula, a sample size of 379 participants from manufacturing firms in Ogun was determined, ensuring comprehensive insights. The manufacturing sector was chosen for its significant environmental impact and need for sustainable practices. The reliability coefficient score of the survey was 0.87. Findings indicate that effective budgeting significantly supports organizational sustainability by providing financial guidelines for sustainable practices, improving resource efficiency, and enhancing environmental performance. Recommendations include integrating sustainability goals into budgeting processes, providing training on sustainable budgeting techniques, and continuously monitoring and adjusting budgets to support sustainability initiatives.
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