FINANCIAL PLANNING AND CONTROLLING

OUTCOME 2: TASK 1 1.0INTRODUCTION In parliamentary law to do task 1, I have decided to nervous strain a company and manage to invent an equipment or component which is marketable. differently it is also involved several aspects of the business decisions such as marketing, yieldion and finance functions, and take place managerial decisions as consideration too. This project is ab out gratings fabrications which ar widely practice in chemical political programts; columns, tanks and vessel, anele platform and building. Therefore this crossroad is marketable in constructions field and especially in ve set aboutable oil and gases industries 1.1 Planning and authorisationling Basically, training and controlling are two sooner distinct concepts. Planning involves developing objectives and preparing various budgets to achieve those objectives. operate on involves the steps taken by management to increase the likelihood that the objectives set down at the pla nning stages are snuff it and that all parts of the organization are working together towards that goal. To be completely utile, a good budgeting system moldiness 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 live up to them. Its specify what should be done, by whom, where, when and how.

1.2Types of Planning principally 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 foresightful range objective and overall system or racetrack of action by which the firm fulfill its missions. Generally sulk periods ranging from 2 to 10 years.2 Sizer (1989) states that long-range planning may be defined as a domineering and formalized process for purposely directing and controlling emerging 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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