This article throws light upon the ten important features of a sound plan. The features are: 1. Integration 2. Market Research 3. Economy/Financial Constraints 4. Co-Ordination 5. Consistent 6. Flexible 7. Acceptable 8. Participative 9. Based on Planning Premises 10. Effective Communication System. Feature # 1. Integration: A good plan should integrate the short-term requirements of the firm with its [...]
This article throws light upon the four main types of forecasting that are related to external environment. The types are: 1. Economic Forecasting 2. Technological Forecasting 3. Forecasts Regarding Government Policies 4. Sales Forecasting. Type # 1. Economic Forecasting: It is done to forecast the general economic conditions, like boom or depression, upswing or downswing of the economy. Corresponding to [...]
This article throws light upon the four main forces that affect organisational goals. The forces are: 1. Competition 2. Cooptation 3. Coalition 4. Bargaining. Force # 1. Competition: Organisations get resources (technological, financial, material, human) from the environment. As resources are limited, they compete for the scarce resources. Maximum share of resources is gained by organisations whose goals are acceptable [...]