Business Planning Meaning

Business Planning Meaning-51
Or the manager may be unwilling to change the plan.This sort of rigidity is not ideal for an organization.Planning is an important function of management, it tells the manager where the organization should be headed. Let us take a look at some important functions of planning.

Or the manager may be unwilling to change the plan.This sort of rigidity is not ideal for an organization.Planning is an important function of management, it tells the manager where the organization should be headed. Let us take a look at some important functions of planning.

Tags: Released Sat EssaysEssay Type Questions AnatomyHigh School Business PlanPolitical Research Paper DatabaseCellulosic Term PapersBusiness Plan Document

Once the objectives are set, the managers and workers can have a clear vision of what to work towards.

Managers are a very important part of the function of business planning.

In such a dynamic environment it becomes challenging to predict future changes.

And if a manager cannot forecast accurately, the plan may fail.

There is clarity in thought which leads to clarity in action.

All work is carried out without interruptions or waste of time or resources, Planning actually involves a lot of innovation on the part of the managers.It actually states in advance what and how the work is to be done.This helps provide the workers and the managers with a sense of direction, a guidance in a way.Being the first function of management it is a very difficult activity.It encourages the manager to broaden their horizons and forces them to think differently.Planning bridges the gap between where the organization currently find itself and where it wishes to be.So in essence business planning comprises of setting objectives for the organization and developing a plan of action to achieve these objectives.While making a plan takes creativity after that managers blindly follow the plan.They do not change the plan according to the dynamic nature of the business. Since it is an intellectual and creative process, specialized professionals must be hired for the job.Without planning their actions would be uncoordinated and unorganized.Planning not only sets objectives but also anticipates any future changes in the industry or the organization.

SHOW COMMENTS

Comments Business Planning Meaning

The Latest from bolserdce.ru ©