Our Archives

Call 09159097300, or 09067754232 for any enquiries.

Project Topic:

THE ROLE OF PLANNING AND FORCASTING IN BUSINESS ORGANIZATION

Project Information:

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 66 ::   Attributes: Questionnaire, Data Analysis ::   3,391 people found this useful

Project Body:

CHAPTER ONE

INTRODUCTION

 

  1. Background of the Study

Planning and forecasting are two sides of a coin that an organization that wants to be successful must imbibe. There are needed in the achievement of an organizational goals and objectives.

Planning is the process that involves going through the current activities of an organization, checking lapses that occurred in the previous year and setting measures to avoid them in subsequent years. It involves mapping out the goals an organization wants to achieve in a year, ways to achieve such goals and the necessary resources to achieve them. It is the first step a manager must take in deciding what to do and how to go about it.

Planning takes an organization to where it wants to be in the nearest future. In planning, the past and present state of an organization is considered in other to bounce back better and stronger.

Forecasting involves looking into the future by noting the available resources, making an estimate of the resources required and considering if more hands will be needed in achieving the organization’s goals (Needle, 1999: p178).

Forecasting is carried out when an organization wants to look into what the future would be like; in order to put necessary measures in place. An organization can be effective if it can predict its environment, identify problems and solve them (Steiner, 1979).

Planning and forecasting are vital tools needed in an organization for performing management functions and in decision making to ensure all departments of the organization functions well. Planning and forecasting walk hand in hand, as forecasting helps unify and coordinate plans.

 

 

  1. Statement of the Problem

Organizations that fail to plan, plan to fail. Organizations that wait for rainy days are bound to crumble as this is evident in many organizations today.

Many organizations fail because of the notion that planning and forecasting should center on a part of an organization.

In addition, some business organizations crash due to poor timing of planning and forecasting.

 

  1.  

The major objective of this research is to discover the role of planning and forecasting in business organization.

Other specific objectives include;

  1. To determine if planning and forecasting should be the duty of just the managers.
  2. To determine if planning and forecasting boosts business organizations.
  3. To discover if a business organization can strive without planning and forecasting.
  4. To determine if there is a relationship between planning/forecasting in business organizations and Gross Domestic Product.

1.3 Research Questions

  1. Is planning and forecasting just the duty of the manager?
  2. Does planning and forecasting boosts business organizations?
  3. Can a business organization strive without planning and forecasting?
  4. Is there a relationship between planning/forecasting in business organizations and Gross Domestic Product?

 

1.4   Research Hypotheses

  • : Business organizations cannot strive without planning and forecasting.
  • :  Business organizations can strive without planning and forecasting.

1.5   Significance of the Study/ Justification of the study

This study is meant to bring to the knowledge of the management of business organizations that planning and forecasting is needful in the overall success of an organization.

This study will be of immense benefit to other researchers who intend to know more on this topic and can also be used by non-researchers to build more on their work. This study contributes to knowledge and could serve as a bench mark or guide for other work or study.

 

1.6   Scope/Limitations of the Study

This study is broad since it is studying on the role of planning and forecasting in business organizations generally.

Limitations of study

  1. Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
  2. Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

1.7   Definition of Terms

Plan:  Is a detailed proposal for achieving something or a decision about what one is going to do.

Planning is the process of making plans for something.

Forecasting: Is the process of making predictions of the future based on past and present data and analysis of trends.

References

Steiner, George A.: Strategic Planning, Free Press, New York, 1979

 

 

 


Get The Complete Project »

Project Department:

MORE BUSINESS ADMINISTRATION FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS

Instantly Share this Project On Social Media:

CLOSELY RELATED BUSINESS ADMINISTRATION FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS

A CRITICAL STUDY ON THE EFFECTS OF JOB STRESS ON THE PERFORMANCE OF BANKERS IN NIGERIA (A CASE STUDY OF UNION BANK, CALABAR)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 80 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   12622 engagements

ABSTRACT The study investigated and evaluated job stress and its effects on job performance among members of staff at Union Bank. The study sought to find out how work-related stress could affect the...Continue reading »

A STUDY ON THE IMPACT OF EMPLOYEE GRIEVANCES AND THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF NIGERIA BOTTLING COMPANY, LAGOS STATE)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 80 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   7789 engagements

ABSTRACT Maintaining good employee-employer relationship is one criteria for an organization to succeed. If employees are not happy with management and their fellow colleagues at workplace, organizat...Continue reading »

AN APPRAISAL OF MATERIAL MANAGEMENT CONCEPT AS A STRATEGY FOR ACHIEVING HIGHER PRODUCTIVITY IN NIGERIAN BOTTLING COMPANY

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 78 ::   Attributes: Questionnaire, Data Analysis,Abstract

CHAPTER ONE INTRODUCTION 1.1 Background of the Study The Need for Appraisal of Material Management Concepts as a strategy for achieving higher productivity and to make up with the growing complexi...Continue reading »

ANALYZING PERFORMANCE APPRAISAL TECHNIQUES IN UNION BANK NIG PLC

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 71 ::   Attributes: Questionnaire, Data Analysis,Abstract

CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY In any evaluation of the condition necessary for the growth and survival of an organization, the role of performance appraisal is a strategic f...Continue reading »

ASSESSING BOOK-KEEPING PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN OGOJA LOCAL GOVERNMENT AREA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 67 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   5088 engagements

ABSTRACT Nigeria’s economy is characterized by a large number of micro enterprises, and in between lie small and medium enterprises (SMEs). The unique feature of most SMEs is that, they can be e...Continue reading »

ASSESSING THE EFFECT OF MATERIAL HANDLING ON THE PROFITABILITY OF A MANUFACTURING COMPANY

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 74 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   7188 engagements

CHAPTER ONE 1.1. Background of the Study Material Management, as practiced in business today, can be defined as “a confederacy of traditional material activities bound by a common idea. The id...Continue reading »

What are you looking for today?

TESTIMONIALS:

  • 1. Jayone from FPA said " I had a wonderful experience using UniProjectMaterials,though they did not deliver the material on time, but the content had good quality. I recommend UniProjectMaterials for any project research work.".
    Rating: Very Good
  • 2. Mugisha R from B.U, UGANDA said "Wow, this is great, your materials has helped me alot. Many blessings. I will inform my friends. Thanks. ".
    Rating: Very Good
  • 3. Nwachukwu Ruth Chinyerr from Michael okpara university of Agriculture,umudike said "I really appreciate this. Materials like this are good guides to writing a researchable project.".
    Rating: Good
  • 4. Ibrahim Salama from Kaduna said "Thanks You So Much Sir We Appreciate ".
    Rating: Excellent
  • 5. Ibrahim Salama from Kaduna said "Thanks You So Much Sir We Appreciate ".
    Rating: Excellent
  • 6. Mohammed A.B from Veterinary Laboratory, Zanzibar ,Tanzania said "You are doing good job to assists in research. God bless you.".
    Rating: Very Good

Paper Information

Format:ms word
Chapter:1-5
Pages:66
Attribute:Questionnaire, Data Analysis
Price:₦3,000
Get The Complete Project »

Best Selling Projects

Our Archives