C/F/45. How effective are budget targets as personal performance measures?

The following essay is targeted as answering the question in regard whether budget targets can be effectively used as personal performance measures. In order to answer the question, the writer defines the subject illustrating different angles and approaches to it, offering examples where appropriate in order to illustrate the understanding of the subject and reinforce certain points. The essay also identifies the very importance concepts of planning and control as supporting and essential elements of budgeting and setting targets as well as personal performance. The essay is completed by conclusion upon the findings and discussions taking place during the course of the report.