Generally a report is a description of an event carried back to someone who was not present on the scene. Thus in a broad sense, many memorandums, letters and news items are called as reports. When an instructor prepares a list of absent students or an analysis of an examination result, or when a technician fills in the form of readings taken from a measurement, he is writing a report. Such reports are the result of careful investigation, sound thinking, logical organization and clear writing and they are presented in a conventional form sanctioned by long and varied experience.
Planning Function of Management Planning Function of Management Planning means looking ahead and chalking out future courses of action to be followed.
It is a preparatory step. It is a systematic activity which determines when, how and who is going to perform a specific job. Planning is a detailed programme regarding future courses of action. It is the basic management function which includes formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources.
Planning is deciding best alternative among others to perform different managerial functions in order to achieve predetermined goals. Planning bridges the gap between where we are to, where we want to go.
Steps in Planning Function Planning function of management involves following steps: Planning starts with the setting of goals and objectives to be achieved. Objectives provide a rationale for undertaking various activities as well as indicate direction of efforts.
Moreover objectives focus the attention of managers on the end results to be achieved. As a matter of fact, objectives provide nucleus to the planning process. Therefore, objectives should be stated in a clear, precise and unambiguous language. Otherwise the activities undertaken are bound to be ineffective.
As far as possible, objectives should be stated in quantitative terms. For example, Number of men working, wages given, units produced, etc. But such an objective cannot be stated in quantitative terms like performance of quality control manager, effectiveness of personnel manager. Such goals should be specified in qualitative terms.
Hence objectives should be practical, acceptable, workable and achievable. Establishment of Planning Premises Planning premises are the assumptions about the lively shape of events in future.
They serve as a basis of planning. Establishment of planning premises is concerned with determining where one tends to deviate from the actual plans and causes of such deviations.
It is to find out what obstacles are there in the way of business during the course of operations. Establishment of planning premises is concerned to take such steps that avoids these obstacles to a great extent. Planning premises may be internal or external.
Internal includes capital investment policy, management labour relations, philosophy of management, etc. Whereas external includes socio- economic, political and economical changes. Internal premises are controllable whereas external are non- controllable.
Choice of alternative course of action When forecast are available and premises are established, a number of alternative course of actions have to be considered. For this purpose, each and every alternative will be evaluated by weighing its pros and cons in the light of resources available and requirements of the organization.
The merits, demerits as well as the consequences of each alternative must be examined before the choice is being made.According to the report, there are a number of key challenges facing the business community.
First, 4IR is often framed as a problem that needs to be tackled as opposed to a unique opportunity for.
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