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What Benefits Would Ritz Carlton Have From The Introduction Of Employee Participation In Budgeting?

857 words - 3 pages

It has been argued that employee participation in the budgeting process will improve firstly staff motivation and following on from this the quality of budget decisions and the efforts of individuals to achieve their budget targets. This does however largely depend on the culture of the organisation, the personality of the individuals involved and the nature of the task or budget process. Participation budgeting is not right for everyone and all companies, the situation needs to be assessed carefully before a budgeting system is chosen.It has been found that participative budgets are normally effective under the following circumstances.-In well established organisations, a long established company likely has the expertise and experience within the industry necessary to introduce a participative system, a fairly new company may not posses these skills and knowledge.-In very large businesses, it may not be efficient to use this method in a small organisation, the process is costly and time consuming and it will be easier for top management to prepare the budget if they only have a small number of areas to cover.-When operational managers have strong budgeting skills, if department managers are not good at budgeting then the budget will undoubtedly suffer. Weak managers will slow the budgeting process down and may need help, they may also be de-motivated by such a daunting challenge.-When the organisation's different units act autonomously, if a business unit acts autonomously then it may be difficult for management to prepare a budget as this would undoubtedly limit the autonomy of the unit if were to work to centralised budgets. Also top management may not have had enough contact with the unit in order to competently prepare its budget.Ritz-Carlton fulfils many of these criteria, being formed in 1983 it has over twenty years experience. The company also has 55 hotels and resorts and approximately 25,000 employees worldwide, it classes as a respectably large organisation. Although a level of organisational control and policy will be apparent, the different resorts and hotels must operate with a large amount of independence due to the many different economic locations in which the company operates. The company also has a heavy slant towards providing a first class service and has won many awards because of this, the various hotels and resorts need to have a certain amount of autonomy to be able to provide this level of service.Ritz-Carlton would likely experience many benefits to their budgeting system if a system of participation was to be used. The information in the budget is provided by the...

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