Home » Business Admin. and Management » THE CRITICAL APPRAISAL OF THE ROLE OF PLANNING AND FORECASTING IN BUSINESS ORGAN...
THE CRITICAL APPRAISAL OF THE ROLE OF PLANNING AND FORECASTING IN BUSINESS ORGANISATION
Sold By: Joe Project Store | Item Type: Project Material | Report this? | Attributes: 65 pages | 1-5 chapters | Amount: ₦5,000 | Marked useful: 3,798 times
Delivery: Within 24 hoursABSTRACT
The research was conducted mainly to examine the positive and negatives effects of not making good use of planning and forecasting in the business administration of an organization. For effective research on this topic THE ROLE OF PLANNING AND FORECASTING IN BUSINESS ORGANISATION both primary and secondary data were used to elicit information from sample studied, the primary source of data were response from the personal interviews, while secondary source from text-books on business management and administration and periodicals.
Twenty-five persons were interviewed as the sample of the staff and management of EASTERN SHOP NIGERIA LTD. The data analysis was based on oral interview I had with the staff of EASTERN SHOP (twenty-five). The major findings are as follows:
The planning and forecasting gules go ahead order to any individual, organization that is going into business to make judicious use of forecasting and planning and forecasting is aids to correct mismanagement in business organization.
Poor forecasting attitude and in adequate planning poor integration of forecasting and planning in running of business organization.
Problem of in-experience in running of organization as a result of making use of sentiment, instead of strategy planning.
Problem of business is also noticed to be an issue of planning on daily basis instead of medium term and long term planning and forecasting basis.
Problem arises because management “organization” believes that planning is not important, even if they believed that it is inborn and endowed from birth and inclination.
CHAPTER ONE
INTRODUCTION
Andreas Faludi states that “Planning and Forecasting” is the “Queen” mother function of management (organization) and that if planning and forecasting fail, what/who will you direct, control, budget, staff, co-ordinate or organize rather than failure and shame”.
Again he state that “Theories provide explanations, explanations are response to state of tension resulting from observing unexpected events (Tonlinin (1960). Planning and forecasting present efforts to reduce surprise caused by such events by giving practicable accounts of how they came about”.
WHAT IS PLANNING AND FORECASTING?
FORECASTING:
Forecasting is preparing of an organizations future objectives and its current material and personnel inventory, the general or departmental manager make an estimate of the current material and human resources that will be able to do in the future and how many more human and material resources the organization must line to meet its goods (Needle 1979 : 178). Any business organization without element of forecasting is like driving a car blind-folded and being directed by a man looking out through the lack-window.
This material content is developed to serve as a GUIDE for students to conduct academic research
Delivery: Within 24 hours
Advertise Here
Not what you were looking for? Perform a search
What's your project topic?
Comment on Facebook:
Related Project Materials
- 1.
WORKPLACE INCIVILITY: AN ASSESSMENT OF THE CAUSES, CONSEQUENCES AND REMEDIES
CHAPTER ONE INTRODUCTION 1.1 Background of the Study Workplace incivility is well recognized as a significant source of stress in the field of soci...More »
Item Type: Project Material | 54 pages | 54 engagements |
- 2.
WORKPLACE INCIVILITY: AN ASSESSMENT OF ITS IMPACT ON EMPLOYEES PERFORMANCE IN SERVICE INDUSTRY OF CA...
CHAPTER ONE INTRODUCTION 1.1 Background of the Study Workplace incivility (WI), a form of mild misconduct characterized by ambiguous intentions to cau...More »
Item Type: Project Material | 54 pages | 52 engagements |
- 3.
UNVEILING AND ADDRESSING CHALLENGES OF DEMOCRATIC LEADERSHIP STYLE IN AN ORGANIZATION( A CASE STUDY ...
CHAPTER ONE INTRODUCTION 1.1 Background of the Study Given that the business world is always changing, Lincoln (2018) noticed that old management t...More »
Item Type: Project Material | 54 pages | 41 engagements |
- 4.
THE ROLE OF KNOWLEDGE MANAGEMENT ON THE COMPETITIVE ADVANTAGE OF FOOD AND BEVERAGE FIRMS IN DOUALA, ...
CHAPTER ONE INTRODUCTION 1.1 Background Of The Study The manufacturing sector is an integral component in the evolution and progress of economies o...More »
Item Type: Project Material | 54 pages | 36 engagements |
- 5.
THE IMPACT OF STRATEGIC KNOWLEDGE MANAGEMENT ON ORGANISATIONAL PERFORMANCE IN CAMEROON (CASE STUDY O...
CHAPTER ONE INTRODUCTION Background of the Study Organizational performance pertains to the comprehensive efficacy and efficiency with which an est...More »
Item Type: Project Material | 54 pages | 45 engagements |
- 6.
THE IMPACT OF ORGANIZATIONAL CULTURE AND ENTREPRENEURSHIP ORIENTATION ON BUSINESS PERFORMANCE USING ...
CHAPTER ONE INTRODUCTION Background of the Study Businesses organizations have emerged as a prominent contributor to the Cameroonian economy, parti...More »
Item Type: Project Material | 54 pages | 40 engagements |