FINANCIAL PLANNING AND CONTROLLING

OUTCOME 2: TASK 1 1.0INTRODUCTION In holy order to do task 1, I have decided to mildew a company and manage to invent an equipment or divisor which is marketable. differently it is also involved several aspects of the business decisions such(prenominal) as marketing, yieldion and finance functions, and take place managerial decisions as consideration too. This project is ab prohibited gratings fabrications which ar widely practice in chemical projectts; columns, tanks and vessel, anele platform and building. Therefore this harvest-time is marketable in constructions field and especially in oil colour and gases industries 1.1 Planning and authorisationling Basically, think and controlling are two kinda distinct concepts. Planning involves developing objectives and preparing various bud mothers to achieve those objectives. cook involves the steps taken by management to increase the likelihood that the objectives set down at the planning stages are si nk and that all parts of the organization are working unitedly towards that goal. To be completely efficient, a good budgeting system mustiness provide for both planning and control. Good planning without effective control is time wasted.1 Planning is a puzzle out of determine the organizations objective and deciding how to effectuate them. Its specify what should be done, by whom, where, when and how.

1.2Types of Planning in the main there are 3 types of planning; strategical plans functional plans Tactical plans 1.2.1Strategic Planning Alternatively known as long Planning or Corporate Planning. Its a plan that establish the fo! resightful range objective and overall system or racetrack of action by which the firm fulfil its missions. Generally sulk periods ranging from 2 to 10 years.2 Sizer (1989) states that long-range planning may be defined as a overbearing and formalized process for purposely directing and controlling rising operations towards craved objectives for periods extending beyond one year. 1.2.2...If you want to get a ripe essay, order it on our website: OrderCustomPaper.com

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