Saturday, May 25, 2024
General Agriculture

Planning Function of Agribusiness Management

In agribusiness management, planning is the process by which a manager looks to the future and discovers alternate courses of action. Planning describes the adoption of specific programme in order to achieve desired results.

It means the selection from among alternatives of future courses of action for the enterprise as a whole and each department with in it.

It is determining goals, policies and courses of action and it involves the processes like work scheduling, budgeting, and setting up procedures, setting goals or standards, preparing agenda and programming.

In the body of management knowledge, planning is the muscle and it allows the other functions to move in the desired direction. Planning is not a forecast but an action oriented statement.

Meaning of Planning

Planning is the process by which a manager looks to the future and discovers alternate courses of action. Planning describes the adoption of specific programme in order to achieve desired results.

It means the selection from among alternatives of future courses of action for the enterprise as a whole and each department with in it.

It is determining goals, policies and courses of action and it involves the processes like work scheduling, budgeting, and setting up procedures, setting goals or standards, preparing agenda and programming.

Importance of Planning

Agri-business is a more complex activity.

Planning is essential for the business survival and development.

Planning reduces risks and safeguards against uncertainty.

It helps to achieve the objectives or goals and thereby move the things in a right direction.

It improves operational efficiency of resources

It is most basic function of management and a requisite to other functions.

Planning is an antecedent process. Planning process may be divided into different steps, such that a highest priority will be given to immediate need and later to the less priority needs.

After dividing the entire planning process in to different steps, the problems are stated and objectives are framed. These problems and objectives will serve as boundaries for thinking process to prepare a plan of action.

While stating problems and objectives certain assumptions should be made depending on situation which may or may not be under the control of management. After stating the objectives and assumptions, the plan of action will be prepared to accomplish objectives and goals.

Planning necessitates faithfulness to objectives.

Read Also : Concepts of Agribusiness Management and Its Elements

Types/Levels of Planning

In agri-business, planning may be of several types;

Financial planning

Industrial relations planning

Research and development planning

Physical facilities planning.

Steps in Planning Process

Function of Agribusiness Management

Gathering of facts and information that have a bearing on the situation

Analysis of the existing operations in business firm, which will involve analyzing what the situation is and problems that are involved.

Forecasting the future developments by identifying defects in existing plan of firm

Setting of goals-This is the benchmark for achieving the objectives. Setting of goals may involve interactions with professionals that will examine the current plan and the possible improvements in existing plan)

Preparation of various alternative plans –On the basis of the existing level of resources various alternative plans should be prepared, out of which the most suitable one will be selected.

Developing a means of evaluating progress-Means of evaluation of progress as the current plans are being executed should be developed. In the same vein, readjustment process should be outlined.

In summary, to succeed in life you need planning in all you do. Planning is the first step in business and if you fail to plan, you are bound to fail in your execution of your business.

Planning is essential for the business survival and development. Planning also reduces risks and safeguards against uncertainty.

Read Also : Guidelines For Making a windmill

Agric4Profits

Benadine Nonye is an agricultural consultant and a writer with over 12 years of professional experience in the agriculture industry. - National Diploma in Agricultural Technology - Bachelor's Degree in Agricultural Science - Master's Degree in Science Education - PhD Student in Agricultural Economics and Environmental Policy... Visit My Websites On: 1. Agric4Profits.com - Your Comprehensive Practical Agricultural Knowledge and Farmer’s Guide Website! 2. WealthinWastes.com - For Effective Environmental Management through Proper Waste Management and Recycling Practices! Join Me On: Twitter: @benadinenonye - Instagram: benadinenonye - LinkedIn: benadinenonye - YouTube: Agric4Profits TV and WealthInWastes TV - Pinterest: BenadineNonye4u - Facebook: BenadineNonye

Leave a Reply

Your email address will not be published. Required fields are marked *

error

Enjoy this post? Please spread the word :)

0
YOUR CART
  • No products in the cart.