Publication Date: 2024/03/15
Abstract: This paper explores how Chief Executive Officers (CEOs) across various industries adapt their resource allocation and divisional budgeting strategies in response to contemporary business challenges. It aims to shed light on the evolving role of CEOs in steering organizational success through strategic initiatives, highlighting the shift from traditional, efficiency-focused models to flexible, value-driven approaches. By conducting a qualitative analysis of recent literature, the study examines patterns in strategic decision-making, focusing on the balance between operational needs and strategic goals amidst changing market conditions. The research emphasizes the impact of industry-specific factors, such as market volatility and organizational size, on these strategic adaptations. Findings reveal a significant trend towards more adaptable and strategic resource management practices among CEOs, moving beyond short-term operational efficiency to support long- term goals. This shift is evident across different sectors, including healthcare, manufacturing, and e-commerce, though the extent and nature of its implementation vary according to each industry's unique challenges and opportunities. The study underscores the importance of strategic adaptability for organizational resilience and success in a rapidly evolving business landscape.
Keywords: Budgeting Strategies, Chief Executive Officer (CEO), Resource Allocation, Strategic Initiatives.
DOI: https://doi.org/10.38124/ijisrt/IJISRT24MAR301
PDF: https://ijirst.demo4.arinfotech.co/assets/upload/files/IJISRT24MAR301.pdf
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