Posted: September 26th, 2022

In this week’s seminar, we will hear from a professor at galton college as he discusses the importance of business planning as the very first step in the overall management process.

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Hello Class,
Please join me for our 03 seminar, where we will explore the role “planning” function of management in the organization. Planning means looking ahead and mapping out future courses of action to be followed. It is a preparatory step. It is a systematic activity which determines when, how and who is going to perform a specific job. Planning is a detailed program regarding future courses of action.
It is rightly said “Well plan is half done”. Therefore, planning takes into consideration available & prospective human and physical resources of the organization so as to get effective co-ordination, contribution & perfect adjustment. It is the basic management function which includes formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources.
Planning is a mental predisposition to do things in orderly way, to think before acting and to act in the light of facts rather than guesses. Planning is deciding best alternative among others to perform different managerial functions in order to achieve predetermined goals. In addition, planning is deciding in advance what to do, how to do and who is to do it. Planning bridges the gap between where we are to, where we want to go. It makes possible things to occur which would not otherwise occur.
In this week’s seminar, we will hear from a professor at Galton College as he discusses the importance of business planning as the very first step in the overall management process.
Please see the seminar at the following link:

Planning: The Starting Point
After viewing the seminar, for our post-seminar assignment, write a short 275-300 word summary addressing the main points from the seminar. Answer the questions:
“What did you find most helpful/interesting about the process of business planning and its importance? How can this information help you in your career as well as your personal life?”
please only list the youtube video as a reference.

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