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Goal Internalization: An Innovative Management Strategy for Budgetary performance in 21st Century Firms of Developing Economies

Budgetary performance of any business organization depends to a large extent on the management views of human nature and the resulting strategy design, the effectiveness and efficiency of the Goals stream, employees’ behaviour and the level of commitment towards productivity. The strategy design process may be authoritarian or humanistic. The humanistic (participatory) strategy design process has gained a lot of support in the literature on accounting and business in the modern business world. It is admittedly, a panacea for the many ills associated with authoritarian (autocratic) strategy design practiced. This paper presents Goals Internalization as an innovative management strategy that will trigger budgetary performance in firms. It further asserts that a purposeful strategy design process will catapult the Goals stream of a business organization into improved budgetary performance. This is described as the strategy Design-Goals Stream- Budgetary Performance Loop. The falling standard of budgetary performance, the regression trend in the economy of developing nations, underutilization of productive capacity, inflation rate and the magnitude of corruption have raised serious concerns.