Write short notes Business Planning Process.
Answers
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The planning process determines how all the assets of the company will be marshaled to achieve the goals and objectives. Thorough planning allows financial resources to be used wisely, and for the human resources of the company to be as productive as possible.
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Answer:
Business Planning process - This refers to the study of the market in advance; with the mind of experience and to understand the pros and cons for the firm in the current time. Planning is a systematic bridge of the business which clears the vision and mission to the working parties. It also creates a connection between what is achieved and what is needed to achieve.
This is time taking and costs involving a process for the firm. It gives the firm objectives of operations to be directed.
The business planning process is an important step for the entrepreneurs to consider the priority and bringing efficiency and effectiveness in the working of the frim to achieve the goals and objectives.