BUDGETARY CONTROL, BUDGET REWARD AND ORGANIZATIONAL PERFORMANCE AMONG LISTED MANUFACTURING COMPANIES IN NIGERIA
This research work explored how business performance in manufacturing sector is influenced by the use of budgeting for control and rewards in Nigeria. In this empirical investigation, the researchers adopted survey design, and all manufacturing businesses in Lagos State which are publicly traded as at 2018 constituted the study population. The study selected 185 respondents from the population, through purposive sampling technique. The research used primary data, while questionnaire was the main instrument employed in collecting the data. After the data collection, the study analyzed the data through the application of regression analysis. It was empirically reflected that the use of budgeting for operation control is directly and strongly associated with business performance. Moreover, it was reflected that performance is directly and strongly influenced by the use of budgeting for rewards determination in majority of the manufacturing firms that were investigated. It is concluded that budget as a control mechanism and budget reward system tend to improve organizational performance, if the system is effectively operated. It is therefore, recommended that organizations should be using budget in a more effective way to control their activities and to serve as a basis for rewarding managers and other employees for good performance.
