FINANCIAL PLANNING AND CONTROLLING

OUTCOME 2: TASK 1 1.0INTRODUCTION In society to do task 1, I have decided to physical body a company and manage to invent an equipment or fraction 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 physical exertion in chemical platformts; columns, tanks and vessel, anele platform and building. Therefore this crossing is marketable in constructions field and especially in crude oil and gases industries 1.1 Planning and authorisationling Basically, mean and controlling are two kind of distinct concepts. Planning involves developing objectives and preparing various bud determines to achieve those objectives. view as involves the steps taken by management to increase the likelihood that the objectives set down at the planning stages are go a long and that all parts of the organization are working in concert towards that goal. To be completely hard-hitting, 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 make them. Its specify what should be done, by whom, where, when and how.

1.2Types of Planning more often than not there are 3 types of planning; strategical plans usable plans Tactical plans 1.2.1Strategic Planning Alternatively known as long-range Planning or Corporate Planning. Its a plan that establis! h the foresightful range objective and overall strategy or racetrack of action by which the firm touch its missions. Generally sulk periods ranging from 2 to 10 years.2 Sizer (1989) states that long-range planning may be defined as a self-opinionated and formalized process for purposely directing and controlling future 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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