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THE IMPERATIVES OF BUDGETARY CONTROL IN ENHANCING BUSINESS SURVIVAL: AN EMPIRICAL STUDY OF SELECTED BANKS IN DELTA STATE
Abstract
This study was carried out to investigate the imperatives of budgetary control in enhancing business survival – An empirical study of selected banks in Delta State. A set of structured questionnaire with a five point likert scale was used as the instrument of data collection and administered on 45 respondents randomly selected from five commercial banks in Warri, Delta State. Data analysis was made using simple percentage tables and the hypotheses tested using the pearson product moment correlation co-efficient and the t-test at 0.05% level of significance. The findings showed, that there is a statistically significant relationship between budgetary control and business survival. The study concludes that for a business to succeed, budgetary control is a necessary ingredient. The study however, recommended among others, continuous budget education, support of top management, adequate accounting system, participation by top executives and clearly defined organization for the success of budgetary control in organizations. Key words: Imperatives; Budgetary Control; Enhancing; Business Survival