A budget is most effective when it is seen as a tool to help a manager plan and manage their resources more efficiently and effectively. It should not be used as a way to evaluate the performance of a manager.
Top management support is essential in order for a budget to be successful, as it provides a sense of ownership and accountability, and encourages managers to stay within their allotted resources.
In order for a budget to be effective, top management must provide their support and approval. This helps to ensure that managers are given the resources to plan and manage their departments in the most efficient way possible. Additionally, budgets should not be used as a way to evaluate the performance of managers, as this is counter-productive.
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