Management Styles Different Management Styles Article Review

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In addition, given its bureaucratic and restricted nature, budgets become out of date within a few months. This challenge is associated with the frequent changes to assumptions arising from changes in the market like commodity prices, demand, exchange, and interest rates. A tight budget presents a challenge to an organization and management today in terms of loss of competitive edge (Steele, 2008). This is associated with the current driver's of success, which require continuous innovation and fast response, over the traditional management of human resource and budgets.

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This implies that management that follows the traditional management style dominated by budget management is not in a position to accommodate innovation (Steele, 2008). This is presents a serious challenge for management today as budgets are traditional separate from strategy. It is a major problem for management since businesses and organizations thrive in the principle of strategic themes in operations, core business, and organizational management. Therefore, the construction of a budget will require the organization of the different functions and departments in a coherent strategy......

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"Management Styles Different Management Styles" (2013, February 21) Retrieved April 28, 2024, from
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