Importance Of Planning In Business

Importance Of Planning In Business-27
Planning is the most basic of all managerial functions.It is the process by which managers establish goals and define the methods by which these goals are to be attained.Planning enquirers about organizational strengths and weaknesses and involves decision making about desired ways and means to achieve them.

Planning is the most basic of all managerial functions.It is the process by which managers establish goals and define the methods by which these goals are to be attained.Planning enquirers about organizational strengths and weaknesses and involves decision making about desired ways and means to achieve them.

Tags: Papers Research TeachingIt Research Paper Topics On Information TechnologyGreatest Accomplishment EssayReferencing Essays IbidShakespeare Research Paper OutlineCommercial Fish Farming Business PlanSeamus Heaney Bogland Essay

Management has to plan for long-range and short-range future direction by looking ahead into the future, by estimating and evaluating the future behavior of the relevant environment and by determining the enterprise’s own desired role.

Planning involves determining various types and volumes of physical and other resources to be acquired from outside, to allocate these resources in an efficient manner among competing claims and to make arrangement for systematic conversion of these resources into useful outputs.

Action statements represent the means by which an organization goes ahead to attain its goals.

Planning is a deliberate and conscious act by means of which managers determine a course of action for pursuing a specific goal.

According to Weihrich and Koontz; “All managers, from presidents to first-level supervisors – plan.”Plans should not only be effective, but also efficient.

The effectiveness of a plan relates to the extent to which it accomplishes the objectives.

They are; Since plans are made to attain goals or objectives, every plan and all its support should contribute to the achievement of the organization’s purpose and objectives.

An organized enterprise exists to accomplish group objectives through willing and purposeful co-operation.

As it is clear from the above discussion, plans have two basic components: goals and action statements.

Goals represent an end state — the targets and results that managers hope to achieve.

SHOW COMMENTS

Comments Importance Of Planning In Business

The Latest from fructaroma.ru ©