ZIMSEC O Level Commerce Notes: Management Functions: Planning

  • In the introduction we looked at management is
  • To reiterate management can be defined as doing work through others
  • It can also be defined in terms of the functions/duties of a manager
  • Management as an organisational/business activity that involves the planning, organizing, leading/commanding, controlling and coordinating of the organisation’s activities so as to make sure the organisation’s objectives are achieved in an efficient and effective manner
  • These are also known as the five functions of management
  • In this section, we will look at what planning involves
  • Planning is one of the five functions of management
  • A plan is a predetermined course of action designed to give purpose to the organisation’s activities
  • Examples of plans include budgets and forecasts that management has to make at the beginning of each trading period
  • Now that we have defined what a plan is we can go on to define planning
  • Planning is the management function concerned with identifying, anticipating and defining goals and objectives for future performance
  • It involves determining the organisation’s/business’s desired future and planning a course on how to get there
  • Planning involves things like making budgets and setting objectives
  • Budgets are the organisation’s financial plans such as the sales, purchases and expenses that the business in question anticipates in the coming period
  • Objectives might involve things like whether the business wants to open new branches, increase sales etc
  • Planning gives the business a sense of direction and a reason for existing
  • Once plans have been set managers can move on to the organising function

To access more topics go to the Commerce Notes page

- See latest Zimbabwe grocery prices -

Deals

SEE LATEST SUPERMARKET PRICES, SHOP FOR GROCERIES VIA WHATSAPP
SEE PRICES & NEWS
We publish the latest grocery prices from Zimbabwean supermarkets. We also deliver groceries online

Quick NetOne, Telecel, Africom, And Econet Airtime Recharge

If anything goes wrong, click here to enter your query.