Briefly Describe the Process by Which Budgets Are Developed and Administered

question 84

Essay

Briefly describe the process by which budgets are developed and administered.

---

Definitions:

Stressor

A factor that triggers stress in an individual or system.

Golden Handcuffs

refer to financial incentives, benefits, or compensation packages designed to encourage highly skilled employees to remain within an organization rather than moving to a competitor.

Continuance Commitment

Continuance commitment refers to an employee's desire to remain in an organization due to the awareness of the costs associated with leaving it.

Financial Incentives

Monetary rewards offered to influence behavior or encourage performance improvements in the workplace.