Planning

                                                            Planning

v Concept :-

Planning is deciding in advance what to do, how to do, when to do, and by whom it is to be done.

Planning bridges the gap from where we are to where we want to go. It is one of the basic managerial function. Planning involves setting objectives and developing appropriate courses of action to achieve these objectives. Thus, it is closely connected with creativity and innovation.

·        Importance Of Planning :-

1.Planning provides direction :- By stating in advance how to the work is to be done planning provide direction for action. If there was no planning, employees would be working in different directions and the organization would not able to achieve its goals effficiently.

·        Planning reduces the risk of uncertainity :- Planning is an activity which enables a manager to look ahead, anticipates change, consider the impact of change and develop appropriate responses.

·        Planning reduces wasteful activities :- Planning serves as the basis of coordinating the activities and efforts of different deparrtments and individuals whereby useless and redunant activities are mentioned.

·        Planning promotes innovative ideas :-  Planning is the first function of management. Managers gets the opportunities to develop new ideas can take the shape of concrete plans.

·        Planning facilitates decision making :-  Under planning targets and laid down. The manager has to evalute each alternative and select the most appropriate option.

Business Environment

                                                                Business Environment

Business Environment Is the Combination of two words ‘business’ and ‘Environment’.

Business:- Business may be defined as the efforts of an individual or groups of individual engaged in the activities of production of goods and services for the profit.

Environment:-  Environment is the surrounding in which human beings live. It is a mixture of social, economic, legal and technological factors. This Environment imposes some limits on human beings.

Business Environment:- Business Environment refers to those aspects surrounding the enterprises which effects the operation and the effectiveness of enterprise.

It is a mixture of complex, dynamic and uncontrollable external factors within which business has to run.

Nature of the business Environment:-

·        Internal and external Environment:- Every business is surrounded with internal and external factors which influences its strategy and decisions. A business firm can control its internal Environment to some extent but have no control on its external factors.

·         Dynamic nature:- Every Business is created by several factors dynamic factors such as economic, social, political, technical, religious etc. All factors are dynamic and beyond the control of a firm.

·          External Factors are interrelated:- All the external factors of business environment are interrelated like legal-political environment influence economic and economic environment thus influence the social environment.

·         Uncontrollable Factors:-  The factors of external environment are uncontrollable and effects the firm’s operations to a large extent. The firm has no control over the government policies, political conditions, change in technology research and developments.

·         Responsible for all factors:- A business firms fully responsible for all environment factors such as, consumers, society, employee, government etc.

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Business Communication

                         Business Communication

Business communication is the of two words ‘Business’ and ‘Communication’

Communication:- Communication is derived from a Latin word ‘Communis’ which means ‘to share’. Hence, communication means the exchange of ideas, views, and thoughts from one person to another.

According to Theo Hayman, “Communication means the process of passing information and understanding from one person to another.”

Business:-  Business refers to all those human activities which are performed with a motive to earn profit. It consists the production of goods and services and distributing them into the other sections of society in an organized mode of distribution.

Thus we can say that Business Communication is that part of communication which is related with Business Activities and make Business Dynamic.

 According to C.G. Brown, “Business Communication is a process of message among persons which are associated with business. It consists of channels of distribution.”

                       

Nature of Communication

·       Existence of two Parties:- Communication involves at least two parties a sender and a receiver. Communication is a process of exchange ideas etc from one person to other. So, it is important to have two parties. A single person cannot communicate.

·       Two way process:-Communication is essentially a two way process. Communication is cannot completed until the receiver understand the message and give back the responses on it.

·       Continuous process- Communication is a continuous process. the owner of a enterprise remain in contact of his employees and customers continuously.

·       Existence of a message:- Communication always contains a message to sent by sender to the receiver. The message may be a suggestion, order, advice, request, warning etc.

·        Communication may be verbal or non verbal:- Communication may be in written, oral or in gestural form depending on nature of message. Communication consists not only of facts but ides and emotions too.

·       Communication always exists:- Communication is and unavoidable phenomenon, communication always exists even when a person is not talking. Facial expressions and positive gestures and other behavioral ways, even when a person is silence also conveys a lot of about him.

·       Universal Process:- Communication is a universal process. It exists in every organization and all level of management.

·       Goal oriented process:- Communication is a goal oriented process. It is effective when the sender and the receiver both are aware about the goal of message.