Action Plan For Better Setting Assessment Answers
Question:
Answer:
• Action plan helps to comprehend the ways which can be used to accomplish the goals
• It provides clear timeline for the tasks to ensure that each job process can be properly tracked according to the goals.
• It provides lucidity to attain the required goals (Ramli & Raml, 2016).
• It defines the objective and the final implementation of the planning procedure of the company.
• Action plan helps to execute the blueprint more effectively.
The benefits of the staff participation are listed below as follows:
i. Improvement in the morale of the employees
ii. More effective production of managerial staff as other employees become more self sufficient.
iii. Better cohesion among the members of the team.
iv. Scope of innovation by the involvement of the other employees
v. Better use of the internal resources which saves the company from outsourcing cost and money.
vi. Improving the commitment among the employees
vii. Reducing the communication complexities
viii. Reducing the boundary between the manager and the employee (Mowday et al.,2013)
ix. Participation accounts for better loyalty and the identification within the organization.
x. Participation results in better setting of the goals of the organization, which is often regarded as a better motivational technique (Leininger et al., 2015)
According to White (2015), the purpose of budgeting is to effectively determine the income and expenditure of a particular operation of the business and also evaluate then profitably of the business. Budgeting also has a crucial role to play for the purpose of the decision making based on the forecasted figures from the budgeting data. Budgeting is of paramount importance when it comes to monitor the performance of a business process. Budgeting is also important for the planning of business operations. It plays a crucial role to provide the financial frame work of the organization and propose the course of action which is to be implemented for the viability of the project (Koochakpour & Tarokh 2016).
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