THE ROLE OF PLANNING AND FORECASTING IN BUSINESS ORGANIZATION (A CASE STUDY OF EASTERN SHOP NIGERIA LIMITED OGUI ENUGU, ENUGU STAGE
ABSTRACT
The role of planning and forecasting the business organization is a topic chosen from the business administration and management field.
The research was conducted mainly to examine the positive and negative effects of not making good use of planning and forecasting in the business administration of an organization. For effective research on this topic THE ROLE OF PLANNING AND FORECASTING IN BUSINESS ORGANIZATION, both primary and secondary data were used to elicit information from sample studied, the primary source of data were response from the personal interview, while secondary sources from text books on business management and administration periodicals.
Twenty- five persons were interviewed as the sample of the staff and management of EASTERN SHOP NIGERIA LTD.
The data analysis was based on oral interview we had with the staff of eastern shop (twenty-five). The major findings are as follows:
The planning and forecasting is aids to correct mismanagement in business organization.
And the planning and forecasting gives go ahead order to any individual, organization that is going into business to make judicious use of forecasting and planning as a way of success in any business.
Poor forecasting attitude and inadequate planning.
Poor integration of forecasting and planning in running of business.
Problem of in- experience in running of organization, as a result of making use of sentiment, instead of strategy.
Problem of business is also noticed to be an issue of planning on daily basis instead of medium term and long term planning and forecasting basis.
Problem arises, because management “ organization believes that planning is not important, even if they believe that it is inborn and endowed from birth and indication.
This project has three chapters. Chapter one contains introduction, statement of problems, objectives of the study, significant of the study, definition and important terms and research questions.
Chapter two is the literature review. Here some related literatures were reviewed.
Chapter three deals with the finding, summary, recommendation and conclusion.
In summary, recommendation state that he who fails to plan, plans to fail, and so human heart can not breath without air, so also business will not work without planning
CHAPTER ONE
1.1 INTRODUCTION
Andreas faludi states “ planning and forecasting is the queen mother function of management (organization) and that if planning and forecasting fail, what/who will you direct, control, budget, staff, co-ordinate or organize rather than failure and shame! Again he states that, “theories provide explanations, explanations are response to state of tension resulting from observing unexpected events. (Toulinin, 1960)
Planning and forecasting present efforts to reduce surprise caused by such event by giving practicable accounts of how they come about”
