FORMERLY KNOWN AS BENGAL COLLEGE OF ENGEERING AND

TECHNOLOGY, CC324

TOPIC: PLANNING AND DECISSION

MAKING

NAME : SOUMOJEET BISWAS

UVIVERSITY ROLL NO. : 32401222079
SEMESTER: 3 RD

SECTION: ‘B’
PAPER NAME : PRINCIPLE OF MANAGEMENT
PAPER CODE :BCAC 391
YEAR: 2023-2024
 Acknowledgement

I extend my sincere gratitude to my professors for their

invaluable guidance, my peers for enriching discussions,
researchers for insightful work, and my family for unwavering
support. Together, they have deepened my understanding of
planning and decision making, critical components of effective
management. Their contributions have been instrumental in
shaping my perspective and knowledge in this field.
 Index

1. Introduction
2. Importance of Planning
3. Types of Planning
4. Decision Making Process
5. Factors Influencing Decision Making
6. Conclusion
 Introduction

Planning and decision making are two fundamental

aspects of effective management. In this report, we will
explore the significance of planning and the intricacies of
decision
making within the context of management.
 Importance of Planning

Planning is the foundation upon which successful

organizations are built. It involves setting
objectives,
identifying resources, and creating a roadmap to achieve
goals. Effective planning ensures that resources are
utilized efficiently, risks are minimized, and goals are
achieved.
Without proper planning, organizations may
flounder, lacking direction and coherence.
 Types of Planning

There are various types of planning, including strategic,

tactical, operational, and contingency planning. Strategic
planning involves long-term goals and the overall direction
of the organization. Tactical planning focuses on specific
actions to achieve strategic goals. Operational planning
deals with day-to-day activities, while contingency planning
prepares organizations to respond to unexpected events.
 Decision Making Process

Decision making is a crucial aspect of management, as it

determines the course of action an organization takes.
The decision-making process typically involves the
following steps:

a. Identifying the problem or opportunity.

b. Gathering information and data.
c. Generating alternative solutions.
d. Evaluating the pros and cons of each alternative.
e. Making a decision.
f. Implementing the decision.
g. Monitoring and adjusting as necessary.
 Factors Influencing Decision Making

Several factors influence the decision-making process in

management, including:

a. Internal and external pressures.

b. Information availability.
c. Personal biases and cognitive limitations.
d. Ethical considerations.
e. Organizational culture and structure.
f. Time constraints.
g. Risk tolerance.

Understanding and addressing these factors is essential for

making informed and effective decisions.
 Conclusion

In conclusion, planning and decision making are integral

components of effective management. Planning provides
direction and purpose, while decision making determines
the actions an organization takes to achieve its goals. Both
processes are complex and influenced by various internal
and external factors.

Successful managers are those who can navigate these

processes skillfully, ensuring that their organizations
remain agile, adaptable, and capable of achieving their
objectives. By acknowledging the importance of planning
and the nuances of decision making, organizations can
better position themselves for success in today's dynamic
and competitive business environment.