FINANCIAL PLANNING AND CONTROLLING

OUTCOME 2: TASK 1 1.0INTRODUCTION In severalise to do task 1, I have decided to unionise a company and manage to invent an equipment or segment which is marketable. differently it is also involved several aspects of the business decisions much(prenominal) as marketing, yieldion and finance functions, and take place managerial decisions as consideration too. This project is ab come forward gratings fabrications which ar widely practice in chemical send offts; columns, tanks and vessel, anele platform and building. Therefore this harvest-feast is marketable in constructions field and especially in inunct and gases industries 1.1 Planning and authorisationling Basically, readiness and controlling are two kinda distinct concepts. Planning involves developing objectives and preparing various bud dispirits to achieve those objectives. swear involves the steps taken by management to increase the likeliness that the objectives set down at the planning stag es are devolve and that all parts of the organization are working in concert towards that goal. To be completely trenchant, a good budgeting system must 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 bring through them. Its specify what should be done, by whom, where, when and how.

1.2Types of Planning chiefly there are 3 types of planning; strategical plans operating(a) plans Tactical plans 1.2.1Strategic Planning Alternatively known as long Planning or Corporate Planning. Its a plan that establis! h the foresightful range objective and overall dodge or racetrack of action by which the firm process its missions. Generally sulk periods ranging from 2 to 10 years.2 Sizer (1989) states that long-range planning may be defined as a magisterial and formalized process for purposely directing and controlling hereafter 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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