What Is the Role of Budgets and Resource Allocation in Successfully

question 20

Essay

What is the role of budgets and resource allocation in successfully implementing and executing strategy? Why does a company's budget need to be closely linked to the needs of good strategy execution?

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Definitions:

Theory of Work Adjustment

A psychological theory that suggests job satisfaction and performance result from the correspondence between an individual's abilities and values and the demands and rewards of a job.

TWA

Stands for Theory of Work Adjustment, a framework that describes how individuals seek to achieve and maintain correspondence with their work environment.

Workplace Requirements

The set of conditions or tasks that are necessary for the operation of a job or workplace environment.

Individual Requirements

Refers to the unique needs or conditions necessary for a person to effectively perform or engage in a specific task or activity.