Question

A budgeting process that involves the input and negotiation of several layers of management describes the management philosophy of __________ budgeting.

Answer 1

A budgeting procedure that includes the enter and negotiation of numerous layers of control describes the control philosophy of Participative budgeting.

The required details for Participative budgeting in given paragraph

Participative budgeting is a procedure below which humans impacted with the aid of using a price range are actively concerned within side the price range advent procedure. This method offers lower-stage managers a more feel of possession within side the ensuing price range. A basically participative price range does now no longer take high-stage strategic issues into account, so control desires to offer personnel with hints concerning the general path of the business enterprise and the way their man or woman departments suit into it. When participative budgeting is used for the duration of an business enterprise, the initial budgets paintings their manner up via the company hierarchy, being reviewed and probably changed with the aid of using mid-stage managers alongside the manner.

Advantages of Participative Budgeting

This bottom-up method to budgeting has a tendency to create budgets which might be greater workable than are top-down budgets which might be imposed on a business enterprise with the aid of using senior control, with tons much less worker participation.

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