Can someone please provide some assistance with a question. Its for an MBA course and needs to be between 350 and 450 words. Question below....Thank you so much in advance for your help. I really appreciate it.
Describe the value of having staff input and board approval of the budget. Consider the following:
• Why do we want staff to request program expense amounts, when they are inclined to want more than the organization can afford?
• Why does the board have approval authority when the more it approves, the more money the board will need to help raise?© BrainMass Inc. brainmass.com June 4, 2020, 5:18 am ad1c9bdddf
If one considers this topic, the answer is almost apparent. The value of having staff input and board approval of budgets is because staff has to adhere to the budget to get the job done, but the board has the responsibility to maintain the financial health of the organization. Oddly, some management and board membership does not consider the input of staff as important. However, these are the people closest to the work performed by the organization and the most knowledgeable about its needs and dependencies. They are also the ones the organization requires to get the work done and their input gives them some voice ...
Reasons why staff input into budgets is a good idea for boards to consider.