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AN APPRAISAL OF THE EFFECT OF PLANNING AND FORECASTING IN BUSINESS ORGANIZATION

CHAPTER 1 INTRODUCTION

Planning is defined by koontz O Donneil as , “ deci
ding in advance what to do, who is to do it,
how to do it, how to do it , when to do it , and why it should be done” planning bridge the gap
from where we are to wher we want to go.
Planning can also be defined as “a predetermined cause of action t
hat helps to provide purpose and direction for members of an enterprise.In designing an environment for the effective performance of individual working togetherin groups, the most essential tasks is to see that purpose and ibjective and mwthod of attainingthem are clearly understood.Planning is the first function of a manager, it is necessary if anything or activities is toreach the denial goal. Through planning, a manager, can approach pre-determined objectiverationally. All the work of an executive, whether he knows it or not is some way connectivewhether he knows it or not, is some way connected with the unfolding of a plan. In identifying
the role of planning in business organisation, Koonzet al states that, “ we are in an economi
c,technological social and political era in which planning like other functions of managers has become requisite far enterprise survival.Planning is unique in that it established the objective necessary for all group efforts.Planning and forecasting are important tools of company management and decision making as they assist in the appraisal of investment of current marketing strategy and manpower planning and in the indentification and development of new products and newmarket, further they promote and facilitate the proper functioning of the many aspects of
company’s activities
Planning and forecasting are compliments in that for a good result both go together. Theycould be regarded as independent parts that make a specified whole writing also in this
concept, Koontz O’ Donneil states that ‘ forecasting especially where participated throughout
the organization, may help to unify and co-ordinae plans. By focusing attention ion the future,it assists in bringing a singleness of purpose to planning.

1.1 BACHGROUND OF THE STUDY
the popular super market called EASTERNSHOP was established in may 28, 1960. about five(5) months after the independence of this country. This took place at Ogui Road, Ogui Road.Then Anambra state now Enugu state, which is formerly known as the headquarters of eastern Nigeria.The supermarket is situated opposite Nnamdi Azikiwe stadium and around it were other big
shops like Boddie’s ABC Transport etc. the amazing thing that concerned this shop
is that themanager or the sole proprietor is a family man, that had engaged in other business an finallysettled in opening a big supermarket. He entered into the business with little or no experiencein the field of supermarket business.Originally, the name of the managing director of the supermarket is chief M. O. Okoli,Ozo Zuliu Agulu 1 of Agulu in Aniocha local Government Area of (old and New) Anambrastat he is one of the pioneer members of Enugu state association of supermarket. This was toenable him to curb some of the problems that he is passing though, as result of poor forcasting

and planning in business. The supermarket has other branches in lagos, and onitsha. In theestablishment, he employed general operation magager (GOM) who sees to the running of thewho direct the affairs of cashier, store manager and restaurant departments and report to theGom. Eastern shop is made up of five (s) departments/ units.

Ø Accounting department

Ø Cashier department

Ø Store department

Ø Restaurant department

Ø Cold room department
Easterm shop deals mostly on consumer’s goods like cosmetics, wears caned foods baby wears
and toys.The problem of proper planning and forecasting is among the major problems that limits themore clearly seen from an ada
ge that says “ that business is full of risks.
Besides, the researches were able to note that the sum N500 naire was used as initialcapital of the business and today the property of the business is on millions and it have morethan twenty people as employees. This simply means that it is no longer small scale businessat the low required. But as a result of inadequate applocation role, of good understanding inthe techniques of forecasting and planning integration in business, the cannot make good pricing quality and quantity of product scales.Since improper planning is as good as not planning at all, based on the above promisingand manifesting problem, there calls for the researchers to investigate the project topic to helpthe present situation that is facing the business.

1.2 STATEMENT OF THE PROBLEM

It has obviously been that “ he who fails to plan, plans to fail” and it is also believed that
he who fails to put records and recognizance of past event should not predict/ forecast future ifanybody that fails to envisage the future is bound to crash.Planning and forecasting have been integrated to be wonderful tools effective ,managementsince planning and forecasting have been integrated to be wonderful tools for effectivemanagement. Since touch used in darkness. We also believed that business dwell in the worldof dynamism and unsteady

setting, which called for effective use of planning and forecasting.It can also be seen as an eye of every business that wants to grow in a competitive environment.
Even the Bible say’s, “ where

there is no vision, people perish” in this context vision, which
is sight in modern business management, is planning and forecasting. Moreover Hosea 4: 6
said , “ my people perish for lack of knowledge of planning and
forecasting. It is because ofinadequate knowledge of planning and forecasting. It is because of these present problems andeminent problems, which many business are encountering and also will encounter in future,
that make the researcher to bring out the topic title “PLANNING AND FORECASTION IN
BUSINESS ORGANISATION from the light of the above, it is approved that for a society to progress is to embrace planning and forecasting.

PETER DRUNNER said that “planning and forecasting is aspect of management is doing notknowing” therefore we should know that planning must be practicalized not nursing or desire
in the hear. It is a thing of paramount importance to see that problems or courses of liquidationof problems or courses of result of lack of adequate planning and forecasting. Morever this project necessitate a result that new people and some organisation that recognized the roles of planning and forecasting . they do it any how, with out knowing that planning ius QUEENMOTHER of all the management and if it fails what / how then will you direct, organize,control, staff and budget it to and so on.This issue of poor attitude and low understanding of the role or meaning and importanceof twin brothers planning and forecasting makes business not to grow well, talk more of progressing. And if any one will progress at all, without working or simply put just by chanceor luck, but planning of business is a will program oriented profit venture or business.In attempt to plan, as many thinks, they do a only half bake planning which is as good asnot planning at all, in which most of their planning is found wanting because it lacks the basicelements of planning as regard as follow.a,
Futuristic in out look, that is planning some future problems of business at to day’s door
steps beside that future can never be predicted with hundred percent efficiently.This is why provision has to be made to accommodate future uncertainties.Theory and practice says that it is done in six step process which shown in the diagram below.
PLANNING PROCESS
All these challenges put together, makes the researchers to found it duly worthy to writeon topic, to revive and resurrects a deed and sick business organisation by the powerof wonderful role of inseparable twin brothers which is planning and forecasting is queenmother of all management function and if it fails or who and low will one (business manager)direct, control budget, staff and so on and so fort. It is nothing rather that to co-ordinate failedand shame.

1.3 OBJECTIVES OF THE STUDY

The Study objectives include

1.To know how planning and forecasting is carried out in EASTERN SHOP LTD
2.To know both the internal and external affairs of the company.
3.Whether the problems are caused as a result of poor motivation.
4.what other variables could explain why the problems have been eradicated?5.

To know whether the working environment is conducive for planning and forecasting.These problems also attached itself with the research questions and we will use the sameopportunity to discuss the research questions.

RESEARCH QUESTION
Why is planning and forecasting needed in an organisation.What impact can it create in progress of businessDoes planning and forecasting had any theoretical backups and back ground?Can we really do without planning and forecasting?What makes planning and forecasting organisation of management?Is information an effective tool for planning and forecasting in business organization?On the reason why, is planning and forecasting needed in an organisation, both charitable andnone- profit organisation had fail because of inadequate. Planning and forecasting.Planning having initiate in selection of man- power, bridge or links up past, present and futuretogether for effective returns by bringing in future at door step of managers. Planning being the primary of all business function has tried to house all functions because, if it fails as houseother thing will fail and so with the aid of proper planning business organisation are bound tosucceed.In to days business some people jumps into business world without minding the rate of planning and for
ecasting due to the believe that says “ with money all things are possible” and
also believed that they are man enough to handle anything which is very wrong and also anabuse to the business concept. They tail to realize that success cometh not by assumption, but by real planning forecasting.These question were also raised to scap out issues that manager is born not made and since proper planning and forecasting has brought increase in productivity that is immeasurable and
quantifiable in today’ s
business. What input can (planning and forecasting) this impact of
planning and forecasting creates more progress in business, because the is a quote that says”
those who fails to plan, plan to fail? And planning in its strict sense means being organized toco-ordinate things no matter the face of circumstances. Having known these, the important of planning and forecasting will not be far fetched or traced, since planning makes managers tohave objective goals or resources to arrest them which can be of (m4) man material, moneyand machine and these eruo the modern strategy of (mbo) management by objective and beingobjective means seeing things from the generalized and adapted phase not with personalsubjective phase. Does planning and forecasting have any theoretical back up or ground ?theories provide explanation which are responses to state of tension resulting from observingunexpected event (Toumin,1960) they represent efforts to reduce surprise caused by suchevents by giving plausible accounts of how they have come about. Mean while does planningand forecasting has any theoretical back up. Yes of course, it has, according planning will becomplete you will need to propose details in forecasting of sales, profit, production, financeand man- power
due to the fact that they will help to validate your plan”.
Another to Koontz and DONNELL(1980) define planning as deciding in advance what to do,how to do it,who is to do it and why it should be done. (management HEINEMAN OXFORDLONDON 1973:60)

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