A Theoretical Assessment of the Operational Budgets in Hyperinflation Countries, Lessons from Boarding Schools in Zimbabwe: Effects and Survival Strategies

Lucia Mandongwe, Stanley Murairwa and Phamela Dube
Additional contact information
Lucia Mandongwe: Manicaland State University of Applied Sciences
Stanley Murairwa: Africa University
Phamela Dube: Manicaland State University of Applied Sciences

International Journal of Research and Innovation in Social Science, 2022, vol. 6, issue 6, 669-677

Abstract: The research reviewed theoretical and empirical studies on hyperinflation, its effects on boarding school budgets, and adaptation strategies that may be employed by the schools. A critical analysis from prior studies displayed that vehement hyperinflation is a challenge and betrays the purpose of operational budgets in boarding schools. The purpose of operational budgets to play an exceptional role in cost control, planning, organizing, and communication at both national and local levels is rendered useless with hyperinflation. An analysis of the legal framework for education as provided for by the Zimbabwe Education Act and the education policies was also performed so as to have a clear understating of how the financial aspects of boarding schools are executed. The results from the studies reveal that hyperinflation has a great negative impact on the operations of boarding schools. It leads to the destruction of schools’ lineament, reduced enrolment, increased arrears, more bad debts, budget deficit, litigation, rising operational cost, and decreased capital investments. The research further discovered that in order to adapt to hyperinflation, boarding schools must be creative and innovative, perform cost reduction and control, adapt to differentiation, online services, cost leadership strategy as well as continuous reviewing of the financial aspects. The research noted that the boarding schools were not spared from the effects of hyperinflation and their only alternative in such disruptive times was to embrace the suggested strategies so as to survive in a hyperinflation environment.

Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.rsisinternational.org/journals/ijriss/ ... -issue-6/669-677.pdf (application/pdf)
https://www.rsisinternational.org/virtual-library/ ... survival-strategies/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:6:y:2022:i:6:p:669-677

Access Statistics for this article

International Journal of Research and Innovation in Social Science is currently edited by Dr. Nidhi Malhan

More articles in International Journal of Research and Innovation in Social Science from International Journal of Research and Innovation in Social Science (IJRISS)
Bibliographic data for series maintained by Dr. Pawan Verma ().