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Advantages of zero budgeting It has a surety of being funded efficiently and thus avoids unnecessary expenses. Promotes improvement of services while utilizing cost-effective methods. Minimizes ineffective and counterproductive activities.
Disadvantages of zero budgeting Justification for every expense may at times be difficult. In needs commitment and professionalism to implement. Time taken to do budgets increases significantly.
Advantages of conventional budgeting Allows use of a framework of control in an organization. It is easy to initiate and maintain without problems. Promote an organization's financial stability by checking on what is spent.
Advantages of conventional budgeting It at times consumes a lot of time and resources. It is not responsive to new changes. The use of bureaucracy and controls demotivates staff members.
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Sep 18th, 2015
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