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Planning In Management – How Important Is It?

Planning In Management – How Important Is It?

Planning In Management

Planning can simply be defined as an act concerned with examining the future and drawing up a course (Plan) of action.

ADVANTAGES

The higher up the hierarchy of management, the more attention is paid to planning, particularly in setting out goals and strategies for long period ahead. Managers lower in the hierarchy usually deal with sections of the total plans and are concerned with shorter period of time.

Planning must be flexible to deal with a changing environment.Continue Reading

Environment Factors Affecting The Organization – Internal And External Appraisal

ENVIRONMENT FACTORS AFFECTING THE ORGANIZATION – INTERNAL AND EXTERNAL APPRAISAL

Environment Factors Affecting The Organization

The importance of business environment and the need to consider forces external to the organization were first incorporated in management thought during the late 1950s.Continue Reading

How Management By Objectives (MBO) Works – Advantages / Disadvantages

How Management By Objectives (MBO) Works – Advantages / Disadvantages

Management By Objectives (MBO)

Management by objective (MBO) or management by Result is both a philosophy and a technique of management. The philosophy is aimed at harmonizing individual manager goal with those of the organization (it is an embodiment of precise strategic plan and its translation into departmental and individual goals, which are reviewed when result are obtained).Continue Reading

Business Social Responsibility And Ethics

BUSINESS SOCIAL RESPONSIBILITY AND ETHICS

Business Social Responsibility And Ethics

How does social responsibility arise? In the pursuit of the objectives of profit optimization businesses consciously or unconsciously forget that they operate in and environment that give them succour ( help given at times of need) without which they will not exist in the first place.Continue Reading

Organizational Objectives in Management

Organizational Objectives in Management

CORPORATE OBJECTIVES

CORPORATE OBJECTIVES SETTING

Definition: Objectives as used in management refer t the aims, goals or the “Hoped for Result” that organizations seek to accomplished. The primary, overall objective of an organization; its expressed reason for existence is refer to as its mission.

IMPORTANCE OF MISSION OR OBJECTIVE:

The importance of a suitable mission that is formally expressed and effectively communicated to the people cannot be overemphasized. The mission and the objectives derived from an organization serves as criteria for all subsequent managerial decision making. If managers do not know what their organization’s basic purpose was, they would have no logical reference point for deciding which alternative is best.Continue Reading

Strategic Business Management Planning / Control

Strategic Business Management Planning / Control

BUSINESS MANAGEMENT PLANNING AS CORPORATE

Planning as a management function is the process of selecting objectives and deciding what should be done to attain them. In management parlance, planning is the systematic process of analyzing relevant information both past and present and the development of alternatives so that a course of action be taken to achieve organizational objectives.Continue Reading

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