ABSTRACT
The basic aim of the study is to show the significance of planning and control
in an organization (A case study of General Cotton Mill Ltd. Onitsha, Anambra
State).
However, all essential elements of the significance of planning and control in
an organization will fully be considered.
In the first Chapter of this research work, we shall consider the background of
this project work, its definitions of problem, its objectives, significance,
scope and statement of problem at the end of this Chapter.
In the second Chapter the researcher discloses the literature review, the
origin of the project work, school of thoughts within the project work and
different research design and methodology.
The final Chapter of this research work concluded and recommended on the
research topic- significance of planning and control in an organization.
TABLE OF CONTENT
CHAPTER ONE
1.
INTRODUCTION
GENERAL BACKGROUND OF THE SUBJECT MATTER
PROBLEMS ASSOCIATED WITH THE SUBJECT MATTER
PROBLEMS THAT THE STUDY WILL BE CONCERN WITH
THE IMPORTANCE OF STUDYING THE AREA
THE SCOPE OR LIMITATION OF THE STUDY
DEFINITION OF IMPORTANT TERMS.
CHAPTER TWO
2.
LITERATURE REVIEW
THE ORIGIN OR NATURE OF THE PROJECT WORK
SCHOOLS OF THOUGHT WITHIN THE PLANNING AND CONTROL IN AN ORGANISATION
DIFFERENT RESEARCH DESIGN AND METHODOLOGY
SUMMARY
REFERENCES
CHAPTER THREE
3.
CONCLUSION
DATA PRESENTATION
ANALYSING OF THE DATA
RECOMMENDATIONS
CONCLUSIONS
REFERENCES
CHAPTER ONE
INTRODUCTION
This term paper on the importance of planning
and control in an organization intends to highlight the broad concept of
planning and control, to indicate their importance and to introduce some
approaches and techniques in accomplishing them.
Planning rests upon the belief that the future
of an entity can be enhanced by continuous Management action which presuppose
that an entity can move successfully in terms of its decision objectives
because of planned management decision (to implement the faced forward
concept. However, it can’t if there were no planned intervention by the
management.
Planning is very important in an organization
because it is the stage at which managers set objectives that determine the organization
activities in the near future.
In today’s increasingly complex organization,
Institution alone can no longer be relied upon as a means for decision making.
This is one of the reasons planning becomes important. By providing a more
rational, fact-based procedure for making decisions, planning allows managers
and organizations to minimize risk and uncertainty.
In dynamic society like ours in which societal
and economic conditions alter rapidly planning helps to prepare for and deal
with possible changes. Planning also provides the scores from which
organization plays in harmony and provides us with benchmarks, or points of
references, against which accomplishment can be measured.
Consequently, effective control necessarily must
rest upon a firm foundation of management planning. Control is also based
upon the concept of feed back, which requires performances, measurements and
triggers corrective measures designed to assure attainment of the objectives
when plans becomes operational, control must be excised in order to measure
progress. In some cases, control also results information of new plans,
changes in operations and re-assignment of people. Control approaches must
be in consonance with the characteristics of operation and into the individual
involved.
An important aspect of control that is
frequently over looked is its relationship to the point of action.
Control cannot be export facts. For example, an expenditure already made
or an inefficiency already committed can hardly be un-done. This
effective control must be exercised at the point of action or at the point of
commitment. This concepts imply that the manager responsible for certain
actions must engage in a form of prior control. To do this, the
pre-determined objectives plans, policies and standards must have
communications to the manager in advance and with such information at hand, the
manager is in a position to exercise control at the point of action (i.e. the decision
making point). This fact emphasizes why the concept of feed forward is so
fundamental from all these. It is imperative to comprehend that planning
is the first stage in establishment and maintenance of an organization which
involves the determination of future needs of the organization, the formulation
of objectives, the determination of policies to be formed and the making of
short medium and along term plans for the organization control which itself
involves the measurement of the performance of the subordinates against planned
activities or set standards, so that they do not deviate.
Control is the final process in the performance
of the management function. Planning and control could be said to be identical
twins or inter-related because without planning, there will be no
control. The system of control is therefore, the process taken by
managers to correct the deviations of subordinates from the standard set.
This helps to make sure that the objectives and
goals are arrived at as ends. Controls is very important in any
organization. Since planning is the Pivot around which the wheel of other
functions of management relates, while control is the measurement of
performance against a set standard, it follows that planning seeks consistent, integrated
and articulated programmes, while control seeks to compel events to conform to
plans.
1.1
BACKGROUND OF THE PROJECT WORK.
Planning is the mental and intellectual work
required before physical effort takes place. It allows managers to bring
together available resources effectively in accomplishing objectives.
When planning does not proceed actions, an organization deliberately limits its
success to enormous factors inherent in the society that will reduce the
effectiveness of the organization.
Early leaders in the management field, such as Hemi Fayol and Fredrick N.
Taylon, recognized the overall importance of planning in training and
development of workers. He believed that managers should be responsible
for planning, rather than allowing workers to devise their own individual
plans.
Control is an integral and unavoidable part of the life in the twentieth
century. Each day in our lives we are subjected to countless controls-
alm docks, fuel garage, traffic signals and signs.
Organizations are really minisociaties and as such they requires controls.
Therefore, control is a necessary part of all modern organizations. A variety
of controls and inventory reports from the foregoing therefore, there is no
gain-saying that control is important in every organization hence without there
will be chaos. Obviously, a minimum of control is necessary to maintain basic
order in a society.
1.2 PROBLEMS
ASSOCIATED WITH THE SUBJECT MATTER
This term paper is designed to emphasize on the
enormous problems facing management in the private and public sectors and to
make recommendations particularly on the importance of planning and control in
any business organization and public cooperation.
Taking the present economic predicament of our
nation into consideration, the researcher discovered that poor planning and
control over the years, has ruined from head to toe. Lack of proper government
deprived business organizations from reaching their desired economic goals, and
have kept people in the state of bankrupt.
Finally, this term paper is designed to unfold
the effect of lack of planning and control in business and to make possible
suggestions for improvements.
1.3 PROBLEM
THAT THE STUDY WILL BE CONCERNED WITH
The problems which the study will be concerned
with is to examine the planning and control methods of an organization.
The nature of the ways planning and control
methods are being affected and the problems being encountered in the
implementation and also to make recommendation in the managerial planning and
controlling efficiency.
1.4
THE IMPORTANCE OF STUDYING THE AREA
The Importance of Planning.
Planning is as important to business
organization as breath is to life. Without planning life becomes stagnant. In
absence of planning, the existence of all living and all economic activities
seems to be in terrible negligence of planning or lack of individuals,
government and business organizations.
Plans will necessarily end on paper if nothing
is done to implement them. To implement means to carryout an undertaken
agreement, promise, plan, etc into effect. For instance, if the marketing
manager had budgeted the sum of N580,000.00 for promotion Zuto
detergent, nothing will still happen unless he takes additional steps of
implementing the budget.
In order to implement the budget, he must decide
on whether to use in house or professional advertising agencies. It will be the
role of those charged with the responsibility to determine the combination of
media to use, the number of sales persons to recruit, the prizes and incentive
packages, the gift items and associated publicity necessary to achieve the
promotional goals.
Planning is of great importance in business
organization to ensure that things do not go more in a zigzag form. For the
fact that everything in the world has process and procedure to achieve
different goals and objectives, plans must be made.
The importance of planning in an organization
cannot be overlooked owing to the dynamic nature of the society.
Planning is basically centered on decision
making which can be made by an individual for his daily existence. Family
planning is an existing trend currently in the nation which involves husband
and wife making decision on how to produce children as well as maintaining a
reasonable standard of living for themselves and their children.
In business organization like production
industries, product planning is a serious managerial function. It is under
their product planning that the following decisions take place:
a.
Which product the company make or buy?
b.
Should the firm market more or fewer product?
c.
What new uses are there for each product?
d.
How can the product be packaged and styled? And what size, colour and material
should be produced?
e.
In what quantities should each be produced?
f.
How should the product be priced?
After the above stated product planning and effective decision making have been
made, the next step is for management to design a way of developing the product
planning.
1.
Generation of new product ideas. These ideas can be received from any source.
2.
Screen process which involves further study.
3.
Business analysis-management at this point identifies product features,
estimates market demand and the product profitability, establishes a programme
to develop the product designs responsibility for further study of the products
feasibility.
4.
Product development, the idea drawn on paper is converted into a physical
product.
5.
Market testing which involves commercial experiments of the new product in a
sample.
6.
Commercialization: This involves full-scale production, and marketing
programmer are planned. Any business organization or office cannot thrive
successfully without adequate management planning because planning is the head
and foremost before any other managerial function proceeds to achieve the
overall objectives of any named organizations.
Planning is indispensable to government as physiological or biological needs
are important to individual or masses. It is obvious even to some illiterates
and laymen how government in the beginning of each fiscal year makes analysis
of last year budget which marks the end of every plan, and makes announcement
of new plans and budget which will help to accomplish the new year’s plans.
Indeed a planning is important to individuals, families, business organizations
and governments of any nations for their continuous existence.
Control and its importance control comes after planning has been concluded to
ensure that the establish goals and objectives by individuals, business
organizations and government are reached. Owing to the fact that individuals,
business organizations, and entire system in the economy seem to be dynamic, it
becomes imperative for us to control to achieve and to ensure that plans work
out effectively. The importance of control cannot be neglected since a lot of
obstacles to the achievement of plans stands obvious.
The government has different ways and measures of controlling the economy. One
of such ways is through monetary policy. The government bank has to control
commercial banks thereby controlling the entire money in circulation to avoid
inflation and deflation in any given economy. Control is of great importance to
government needs and desires are attained. Without controls, government’s
annual budget cannot match with its expenditure thereby amounting to either
deficit or surplus of budget which is not good to any economy or nation.
In business organization, the importance of controlling cannot be overlooked or
neglected, since in product planning and development, lack of control can
destroy and destabilize the organization raw materials and products which
amounts to how profit maximization.
Besides, control is also important in human race without self-control, any
fault or offences by one may result to the one’s death. Consequently, this will
bring about hurly-burly in all human race. Again, due to the dynamic nature of
all the activities man engages himself in, control is of great importance for
the achievement of goals plans and objectives it becomes very expedient to
control thereby ensuring reasonable percent of goal achievement.
1.6
DEFINITION OF IMPORTANT TERMS
Management
Planning:
This is been defined as the design of a desired future state for an entity and
of effective ways of bringing it about. A fundamental purposes of management
planning is to produce for a feed forward process and the concept of this
feed formular is to provide for making operational decisions on day-to-day
basis.
Planning:
This is generally recognized as the most difficult task facing a manager, and
it is one on which it is very easy to predetermine future and initiate and
negotiate actions. This indicates that planning is deciding in advance what to do,
how to do it and who is to do it. Also, it can simply be seen as setting a goal
or objective and devising the means, policies, programmes, and procedures
through which to achieve the goals. Infact, it brings the gap between where we
are and where we want to go.
Control:
Control may be defined simply as the action, necessary to ensure that
objectives, plans, policies and standards are being attained. Control
pre-supposes feed forwards, meaning that those objectives, plans and controls
have been developed and communicated to those managers who have performance
responsibility for accomplishing their work.
Therefore, it can precisely be seen as the measurement of performance progress
or out put against a set standard or goal.
Department | Business Administration and Management |
Project ID Code | BAM0292 |
Chapters | 3 Chapters |
No of Pages | 36 pages |
Methodology | Null |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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