Budgeting Processes for Improved Manufacturing Companies in Nigeria: Budgeting Processes for Improved Performance of Food and Beverages Manufacturing Companies in Nigeria

The objective of this research is to determine the relationship between budgeting processes and organizational performance of food and beverages manufacturing companies as well as to ascertain the effect of budgeting processes on the performance of the industry. The data were collected through surveys from one hundred managers comprising of top level and middle level managers. The predictors of budgeting processes are; planning, participation, communication, implementation and control whereas the indicators of performance are; Dividend per share, Earnings per Share, Net Asset per Share and Return on Investment. Pearson Product Moment Correlation Coefficient was used to determine the level of association between budgeting processes and organizational performance and it was discovered, that there is a significant relationship between planning, communication, implementation, control and performance indicators whereas there is no significant relationship between participation and performance indicators. The results of regression analyses showed that budgeting processes has a significant effect on Dividend per Share and Net Asset per Share and no significant effect on Earnings per Share