THE IMPORTANCE OF PLANNING AND CONTROL IN AN ORGANISATION
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.
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.
