Nature of Business Planning

May 17th, 2008

All business organizations whether it is the government, a private business or small business man require planning. To turn their dreams of increase in sale, earning high profit and getting success in businessкомпютри втора употребамебели all business man have to think about future make predictions and achieve target. To decide what to do, how to do and when to do they do planning. The planning function managers decide in advance what is to be done. When activities are planned in advance then there are less chances of confusion and wastage of resources. Planned activities bring reduction in cost as result the efficiency improves. The planning function is needed only when different alternatives are available and we have select most suitable alternative. We can not imagine planning in absence of choice because in planning function managers evaluate various alternatives and select the most appropriate. Bit if there in one alternative available then there is no requirement of planning.

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