FINANCIAL PLANNING AND CONTROLLING

OUTCOME 2: TASK 1 1.0INTRODUCTION In rewrite to do task 1, I have decided to stamp a company and manage to invent an equipment or ingredient 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 stunned gratings fabrications which ar widely practice in chemical intentionts; columns, tanks and vessel, anele platform and building. Therefore this harvest-feast is marketable in constructions field and especially in oil and gases industries 1.1 Planning and authorisationling Basically, provision and controlling are two sort of distinct concepts. Planning involves developing objectives and preparing various bud ascertains to achieve those objectives. manoeuvre involves the steps taken by management to increase the likeliness that the objectives set down at the planning stages are pass a nd that all parts of the organization are working together towards that goal. To be completely potent, a good budgeting system must 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 attain them. Its specify what should be done, by whom, where, when and how.

1.2Types of Planning mainly there are 3 types of planning; strategical plans in operation(p) plans Tactical plans 1.2.1Strategic Planning Alternatively known as long-range Planning or Corporate Planning. I ts a plan that establish the foresightful r! ange objective and overall strategy or racetrack of action by which the firm take on its missions. Generally sulk periods ranging from 2 to 10 years.2 Sizer (1989) states that long-range planning may be defined as a doctrinal and formalized process for purposely directing and controlling forthcoming 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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