EVALUATE THE ROLE OF PLANNING AND FORECASTING IN ACHIEVING MANAGERIAL EFFICIENCY
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ABSTRACT
The research was conducted mainly to evaluate the role of planning and forecasting in achieving managerial efficiency. Individuals and organizations have operated for hundreds of years by planning and forecasting in an intuitive manner. It was not until the 1950s that formal approaches became popular. Since then, such approaches have been used by business, government, and nonprofit organizations. Advocates of formal approaches (for example, Steiner, 1979) claim that an organization can improve its effectiveness if it can forecast its environment, anticipate problems, and develop plans to respond to those problems. However, informal planning and forecasting are expensive activities; this raises questions about their superiority over informal planning and forecasting. Furthermore, critics of the formal approach claim that it introduces rigidity and hampers creativity. These critics include many observers with practical experience (for example, Wrapp, 1967). This chapter presents a framework for formal planning and forecasting which shows how they interact with one another. Suggestions are presented on how to use formal planning for strategic decision making. (For simplicity, references to planning and forecasting in this chapter will mean formal strategic planning and forecasting.) Planning is not expected to be useful in all situations, so recommendations are made on when planning is most
TABLE OF CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of contents
CHAPTER ONE: INTRODUCTION
1.1 Background to the study
1.2 Statement of the problem
1.3 Research Question
1.4 Objective Of The Research
1.5 Significance of the study
1.6 Scope of the study
1.7 Limitations of the study
1.8 Definition of terms
CHAPTER TWO: LITERATURE REVIEW
2.1 Conceptual Framework
2.2 Theoretical Framework
2.3 Theoretical Basics
2.4 Meaning of Strategic Planning On Organizational Efficiency
2.5 Planning As a Tool for Managerial Efficacy
2.5.1 Category of Planning
2.5.2 Functions of Planning
2.5.3 Problems of Planning
2.6 Forecasting as a tool to Planning
2.6.1 Techniques for forecasting
2.6.2 Application of planning and forecasting
2.6.3 Benefits and drawback of planning and forecasting
2.6.4 Drawbacks Of Planning And Forecasting
2.6.5 Planning Process
2.7 Who is a manager
2.7.1 Function and roles of a manager
2.8 EXISTING GAP OF STUDY
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Introduction
3.1.1 History of the case study
3.1.2 Structure of the case study
3.2 Research Design
3.3 Population of the Study
3.3.1 Sample Size and Sample Technique
3.4 Source of Data
3.5 Method of data collection
3.6 Methods of data analysis
3.7 Credibility of Research
3.8 Methodological Difficulties
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction
4.2 Respondent Rate
4.3 Respondent Characteristic
4.4 Data Presentation and Analysis
4.5 Interpretation
4.6 Test of Hypothesis
4.7 Major Findings
4.8 Discussion of findings
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary of findings
5.2 Recommendations
5.3 Conclusion
5.4 Contributions to Knowledge
5.5 Suggestion of Further Studies
Bibliography
useful. Descriptions of forecasting methods are then provided. Finally, suggestions are made on which forecasting methods to use when developing plans for a company.
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