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2ND SEM PLANNING AND DECISION MAKING
2ND SEM PLANNING AND DECISION MAKING
2ND SEM PLANNING AND DECISION MAKING
Management every time has to look for planning long-range and short-range
future direction by estimating and evaluating the future behavior of the
relevant environment and by determining the enterprise’s own desired role.
Plans have two basic components: goals and action statements. Goals
represent an end state the targets and results that managers hope to achieve.
Action statements represent how an organization goes ahead to attain its
goals. Planning is a deliberate and conscious work using which managers
determine a future course of action for attaining a specific goal.
Planning also required thinking about past events and future opportunities
and impending threats. The planning process finds organizational strengths
and weaknesses.
Definition of Decision-making
Then the manager must find the available alternatives to tackle the situation.
By planning; manager finds these alternatives by testing and measuring their effectiveness. They
identify the pros and cons of each alternative.
After that, the managers must use their decision-making skills for selecting one path of action.
Decision making is the core of planning. Unless a decision has been made, a plan cannot be
implemented in the field.
Decisions can be made without planning but planning cannot be done without making decisions.
Planning can be defined as the process of selecting a future course of action.
Decision-making defined as the process of selecting a course of action from the alternatives.
They need to be accurate for the welfare of the organization.