Contemporary Theories of Motivational Budgeting

This research work is necessitated by the unconcerned attitude of managers towards innovative management strategies, budgetary science, management theories and employees’ motivation in business organization. A lot have been done, but much is yet to be done especially in the human side of the enterprise. The falling standard of work motivation has raised tremendous concern. In many economies (like Nigeria and other developing West Africa), employees do not consider and accept the budget as theirs. From available researches and submissions, employees said that the budget belongs to the management. Many organizations do not achieve their budget goals in recent times. Contemporary theories of motivational budgeting offer new insights into gaining employees’ motivation vis-à-vis employees’ satisfaction, maximum performance and goal oriented behaviours required in modern business world. These theories constitute the limelight for innovative management strategies relative to budgetary theories and practices in organizational settings. Contemporary theories of motivational budgeting are based on the tenets of scientific management school that flourished in the early part of the twentieth century, the views of the neo-classical era (modern school of thought) that emerged from 1948 after World War II and the research pack of Usen Paul Umo in the first quarter of the twenty-first (21st) Century.