Showing posts with label Business Planning meaning. Show all posts
Showing posts with label Business Planning meaning. Show all posts

Monday, 12 September 2022

Coordination...

                
Coordination
Coordination 

Coordination..

Coordination is the process of maintain the balance and harmony between the different individuals and departments of an organization in order to attain organization  goals.

Coordination's main aim is to achieve the goals of organization by maintain the discipline and harmony in organization.
Coordination maintain healthy relations between employees ,they work together and fulfill organization goals."Coordination is not a function it is compulsory element which should be compulsory   between employees in performing management functions "
             

Coordination is ..

1) Coordination is the essence of management.

2) Coordination is involved in every function of management and hence should not be regarded as one of its functions.

3) Planning,directing ,organising , staffing and controlling all involve coordination.

Coordination is different from cooperation; Cooperation is voluntary collective action to serve a common purpose,Whereas , coordination is an art of synchronisation of
 efforts so that the common goals is attained.
Without coordination every employee work in their own way ever employee work in their own direction so the organization goals will not be achieved.

Types of Coordination..

1) Internal Coordination..
2) External Coordination..

1) Internal Coordination -When coordination is between different departments, sections,units, employees,branches within the organization is called Internal Coordination.Internal Coordination is again classified in two types:-Vertical & Horizontal 
Coordination.

Vertical Coordination-Coordination between different persons at different levels of management (different designation)hierarchy is known as vertical Coordination.

External Coordination -Coordination between different departments at the same level(same designation) in the organization's chain of command is called external Coordination.

Techniques of maintain Coordination between different activities and departments in the enterprise are these:-

1) By Supervision -Manager must have skill to supervise the work and bring coordination.While supervising, the manager is to see that subordinates synchronizes and coordinate their efforts among themselves and also in relation to other groups.

2) By through the process of Organization - Organization is very powerful device for achieving coordination, Whenever activities are grouped and assigned to subordinates,the idea of coordination is uppermost in the mind of the manager.
When manager make organization he make groups and assign duties in such a way so that coordination is easily maintain.

3) By Personal Contact -Personal contact is another most important technique of maintain Coordination . Coordination is achieved through interpersonal, horizontal relationships of people in the organization.People co-operate better when they understand each other's tasks.

4)By Communication -Communication is also very useful method to achieve coordination.Communication through letters, reports etc through communication employees and managers exchange information, grievances, reports easily so coordination is easily achieve.

External Coordination -A large number of external forces have great impact on success and failure of business.So businessmen pays very much efforts in analysing external forces,after analysing the external forces preventive measures are taken so that the enterprise can effectively cope up with them .The important external forces are interest of customers, investors, employees, competitive situation, technical advances, government policies and coordination can be achieved in many ways:-
1) Shareholders, debenture holders and creditors comprise investors of any company.Management should pursue the policy of promoting good relations with investors so there is continuity of funds availablity.

2) With customers and employees also the problem of coordination is largely that of improving relations with them.Genuine please should be solved customer interest is largely coordinated with the enterprise through product publicity, marketing research in market oriented planning.

3) There must be coordination of the enterprise with other business units,such as suppliers,goods carriers.

Characteristic features of Co-ordinating...

1) Coordination is a continuous process .It is not  come to an end ,there  should be always coordination in managers, employees to attain organization goals.

2) Applies to group effort -Coordination is not apply in individual,it is apply in group effort,when they work together coordination is applied.

3) Common purpose -The ultimate purpose of coordination is to achieve common purpose or to attain organization goals.

4) Universal - Coordination is required in all organisations.At every level Coordination is necessary.Without coordination goals of organization cannot be achieved.

5)Not a function,it is essence of management - Coordination is not a function which have to be performed or complete ,it is a essence it means there is Coordination between managers and employees when they work together to achieve organization goals.they maintain good relations and harmony between them.

How Coordination is different from Co-operation?

1) Coordination is a process of synchronising and integrating the efforts of individuals in an organisation in order to attain organization goals.

Cooperation is a collective will of people in an organisation to contribute to for achieve organization goals.

2) Coordination is rational and logical, Whereas
 cooperation is voluntary and emotional.

3) Cooperation is achieved by the will and attitude of the individuals .

Coordination is achieved by managers skills and efforts.

4) Cooperation is not depend upon coordination.Cooperation can be achieved without coordination but coordination can be achieved through cooperation.

Essentials of Coordination..

a) Direct contact

b) Early stage coordination.

c)Continuity.

d)Well defined objectives.

e) Clear lines of authority.

f) Sound Organization structure.

e) Cooperative behaviour.

f) Effective communication system.






Tuesday, 26 May 2020

Business Planning

https://commerceclasses86.blogspot.com/2020/05/planning-process.html?m=1
Business Planning-A business plans is a written description of business,in this document we make plan what to do ,when to do,how to do.


"Planning is detailed blueprint prepared which activities to be performed in future to attain goals.."

Characteristics of Planning
😊It is based on objectives & policies.
😊It is mental activity.
😊It is pervasive activity.
😊It is primary function of Management.
😊It is dynamic process.
😊It is decision making process.
😊It concerns future activity.

Techniques of Planning..

 Planning is decided in advance what is to be done in future.In planning management doing overall planning for eg- how much raw material is required,how much capital is required,how much labour is required etc.. For doing planning manager use planning techniques these are...

1) Forecasting.

2) Budgets.

3) Break- Even Analysis.

4) Linear Programming.

5) Waiting line.

6) Network techniques: PERT/CPM.

7) Theory of Probability.

               

Techniques of planning
Techniques of planning

          Techniques of planning..

1) Forecasting -Forecasting is predicts the future events in present.It is the most important technique of planning, through forecasting we predicts the future.Manager predicts what is likely to be happen in future,so they will prepare according to that and make plan accordingly.

     Forecasting provide base for making planning and make plan for materials, personnel and other requirements.Forecasting is base on guess work and past & present conditions.Manager continuously monitor the environment before forecasting is done.Forecasting can be perform into two categories:-a) Quantitative b) Qualitative.
a) Quantitative forecasting- When the forecasting is perform on basis of past data &figures is called Quantitative forecasting.

b) Qualitative Forecasting- When the forecasting is perform on the basis of judgement and knowledge of people is called Qualitative Forecasting.
                             
Planning techniques
Forecasting..


2) Budgets-Budgets is also for planning.In budget we showing the expected expenses and expected incomes of future through we come to know how much we spend in various resources and and how much expected capital expenditure and how much expected income in future . Manager make planning according to the budget.

3) Break-Even Analysis-It is widely used technique in planning.Through Break-Even Analysis we come to know how much units to be sold to cover the costs.Break -Even point is that point in which we come to know where the total costs equals to the total revenue.
Break-Even Analysis helps in planning in such a way..

*Through BEP we make planning how much units should we sold to cover costs.

*BEP helps in fix the price of units.

4) Network technique PERT/CPM -PERT /CPM are also Network techniques which is useful in planning, decision making and controlling.PERT  is Programming Evaluation and Review Technique and CPM is Critical Path Method.Through PERT technique every project is evaluated like what are the activities needed to complete the project.Its sequence of activities in project,how much cost and time associated in each activity and what are the expected obstacles in the project.Manager also monitor progress of the project.
CPM-Critical path method technique is used to Analysis the time of project .This technique helps in identify critical and non- critical tasks and avoid risks.

5) Queuing Theory-Queue - A line of people awaiting for their turn . Queuing theory is the mathematical study of queue .This technique provides badis of decision making about the resources needed to provide services.Queuing Theory helps in planning in this wayπŸ‘‡

 1)To find out the cost of offering the service.

2) To find out the cost incurred due to delay in offering the service

3)To allocate the resources.

6) Theory of Probability-Theory of probability also helps in planning and decision making.Through this techniques managers use statistics to know the probability of risk in future plan and according to that probability make pattern of future plan.

Read this article of Planning..

https://commerceclasses86.blogspot.com/2020/08/financial-planning.html

https://commerceclasses86.blogspot.com/2020/05/planning-process.html

https://commerceclasses86.blogspot.com/2020/05/business-planning.html

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