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Reporting g1
Reporting g1
PLANNING
Learning Objectives
• Definition of planning
• Definition of management
planning
• Steps in Planning
INTRODUCTION
• This module talks about the definition, and steps
in planning.
Business Finance
• Business finance is the money a company requires to
operate commercially. It is the capital that entrepreneurs
need to launch, maintain, or grow a company. This funding
may come from a variety of sources.
Planning
• is an important aspect of the firm’s operations because it
provides road maps for guiding, coordinating, and
controlling the firm’s actions to achieve its objectives
(Gitman & Zutter, 2012).
• is very much related to another management function,
controlling. These two management functions reinforce
each other, and both are very important for the success of
the organization. (Planning, Controlling)
• The term "water ballet" refers to synchronize swimming in
the 20th century. In Berlin, Germany, in 1891, the first
competition was officially documented. Several swim clubs
were established at that period, and Canada saw the growth
of the sport. At addition to being a sport, it was frequently a
well-liked addition to Music Hall evenings in the bigger
variety theaters of Glasgow or London, which had enormous
on-stage water tanks for the purpose.
Controlling the firm’s actions
• Determine if goals have been met
• Determine what actions were most effective in achieving goals
• Understand what went wrong and how to fix it
Management planning
• is about setting the goals of the organization and identifying
ways on how to achieve those (Borja & Cayanan, 2017). This
may be broken down into long-term plans and short-term
plans.
LONG-TERM PLAN
• These are a set of goals that lay out the overall direction of the company
• They usually take a minimum of a year or two to complete.
• They aim to permanently resolve issues and reach and maintain success over a
continued period.
SHORT-TERM PLAN
• is usually considered to take 12 months or less.
• evaluates your progress in the present and creates an action plan to improve performance
daily.
STEPS IN PLANNING
A. Set goals or objectives
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TYPE OF BUSINESS:
HOW DOES IT WORK?:
WHO’S THE TEAM?:
TARGET MARKET:
SOLUTION IF YOU HAVE COMPETITOR:
MARKET STRATEGY:
BUDGET PROPOSAL: