THE IMPORTANCE OF PLANNING AND CONTROL IN AN ORGANISATION (A CASE STUDY OF GENERAL COTTON MILL LTD. ONITSHA, ANAMBRA STATE)
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THE
IMPORTANCE OF PLANNING AND CONTROL IN AN ORGANISATION
(A CASE
STUDY OF GENERAL COTTON MILL LTD. ONITSHA, ANAMBRA STATE)
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.
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