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How Can Participative Budgeting Improve the Effectiveness of a Company's

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How can participative budgeting improve the effectiveness of a company's budgeting process?


Definitions:

Cultural Change

Transformation in the values, norms, customs, and practices of a group or society over time.

Competitive Advantage

A condition or circumstance that puts a company in a favourable or superior business position compared to its competitors.

Adaptive and Flexible

The capacity to adjust and modify one’s behavior or operations in response to changing circumstances or environments.

Rigid

Referring to something that is inflexible or strict, with no room for adjustment or deviation.

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