PLANNING AN IMPORTANT TOOL TO MANAGEMENT OF SMALL SCALE BUSINESS
CHAPTER ONE
1.1 General Background To The Subject Matter
This project introduces planning as an important tool to management of small-scale business with a case study of PETER VENTURE.
It is located at No. 6 Isiokpo Awada Layout, Onitsha – Anambra State.
This venture deals on production of plastics of various kinds. Emphasis is placed on planning as important tools to the management of small-scale business. Upon completing this project one should be able to describe the importance of planning and why it is needed in a small-scale business and should understand managerial task in planning.
Planning, being one of the functions is very necessary to the survival of any business. Planning includes the forecasting and selecting of Objectives with policies, programme and procedures for achieving their business goals. It involves making decision, it helps small-scale business to grow, it embraces all the activities which a company undertakes to determine the type of products it will produce/market. It is normally undertaken to determine the present and further requirement of customers, which involves goods and services for their satisfaction (customers).
Tools used in planning involve collection of data by coding, tabulating, charting and discussing them in an orderly manner in other to bring out their meaning clearly by analyzing data collected.
1.2 Problem Associated With The Subject Matter
Planning is an intellectually demanding process, it requires the conscious determination of course of action, and the basic decision on purpose, knowledge and considered estimates.
Projects have failed in most business enterprises such as small scale as a result of inadequate plans being made and all variables like to affect the business, not adequate controlled.
Planning should consider some factors in the environment, which will help or hinder the organization in achieving its goals.
They should take account of existing organization and provide for control, so performance can be checked with established standards. It focuses on action and purpose, which forecasts actions and tend towards the ultimate goals and not those irrelevant ones. Small scale business management planning seeks to achieve a consistent, coordinated structure of operation focused and desired ends. So without planning action produces nothing but chaos.
One main features of planning is to make a decision. This will involve assumptions about the future and about many variable factors usually dealt with in the decision making process.
Many persons may be involved in planning activities, which must be continuous process, but the main point is that these activities must produce a specific plan, without which plans, planning activities have no real effect.
1.3 Problems That The Study Will Be Concerned With
Planning being an important tool to small-scale business requires the business enterprise to determine its long-term survival based on finding the most profitable way to allocated limited resources among competing ends. Labour hours to such values as how satisfied individuals and groups in the business of small-scale management.
The higher up the hierarchy of management the more attention is paid to planning, particularly in setting out goals and strategies for long period ahead. Managers lower in the hierarchy usually deal with sections of the total plan, and are concerned with shorter periods of time. Efficiency of planning is measured by the amount it contributes to purpose and objectives, as offsets by costing and unsought required to formulate and operate it.
The most important way management can contribute to growth is by systematic planning probabilities are forecast and programmes developed to take advantage of them. Consistent attention must be given to changing circumstances and many revisions of plans may be needed.
Items affecting forecasting are as follows:- Political stability, Population trends, Price levels, government control and fiscal policy, employment, productivity and national income, technical environment. Some areas have shown great changes such as computer. Its impact and speed development must be especially noted.
A Simple Cycle Of Business Plan Activity Can Run Thus:
Planning cycle.
FORECAST PLANS
The diagram above shows how planning of small-scale business an important tool to the production and distribution to customers.
1.4 The Importance Of Studying The Subject Area
It is of great importance to studying the area of small scale business planning.
In planning for longer periods, a forecast of technological changes is vital especially for those companies, which are in area rapidly advancing technology. For an organizational point of view companies have separated the basic day-to-day planning activity from a strategic planning for the future.
Job is not so rigidly defined as in a large organization and there is more flexibility between jobs. There will be less formality than in larger organizations. Decision-making will be quicker and rules and procedures less rigid, which are usually, based on planning.
The size of the outdoor staff depends upon many factors, particularly the method of production. Geographical size of the territory usually depends upon the physical nature of the product and services. Work must be planned, so that mechanical gadgets and equipment, raw material are effectively utilized. For efficient production of products (plastics) customer’s demand and buying patterns, factory locations production capacity are applied based on planning and techniques simulation.
In forecasting it is important to stress the need to examine the economic environment and possible fluctuations in company profits and relations to possible cycles of business activity.
1.5 Definition Of Important Terms Planning:
Is the most basic of managerial functions. It determines organization objectives and purposes so that every one understands what they have to accomplish.
Plans
Is outline drawing showing the relative size, positions of parts.
Goal (Important Tool):
It gives broad guidelines towards which more detailed and specific plans are directed. They consist of the purpose, mission and objectives.
Strategic Planning:
Involves deciding upon the major goals of the organization and what policies will be used to achieve them.
Tactical Planning:
Involves deciding how resources will be used to help the organization achieve its strategic goals. It relies more on past records and involves shorter time periods.
Decision:
Is a choice where by a person forms a conclusion about a situation. This represents a course of behaviors about what must or what must not be done. It is the point at which plans, Polices and objectives are translated unto concrete actions. Planning leads to decision guided by company policies, procedures and programmes.
The purpose of decision-making is to direct human behavior towards a future goal. If there were no alternatives, there would be no need for a decision.
Small-Scale Business:
Is independently owned and do not dominate the market.
It plays an important part in the private enterprise system. Management is processes by which scarce-resources are combined to achieve given ends. Policies are guide to action or decisions of people. Policies are directives issued from a higher authority, and provide a continuous frame work for the conduct of individuals in a business. They are in effect a type of planning. Policies are expressions of a company’s within attitude towards types of behaviour within which it will permit, or desire employees to act. They express the means by which the company’s agreed objectives are to be achieved and usually take the form of statements, telling members how they should act in specific circumstances.
Policies reflect management thinking on basic matters and inform those interested, Management thinking on the activities of the company about the company’s intentions regarding them.
Policy formulation may begin at any level of organization. MBO which has its meaning as Management by Objectives, is one approach to planning that enables all managers to participate fully in planning activities. Subordinate and managers meet to establish objectives and periodically review progress. It is based upon as set of assumptions that under proper conditions, people will find satisfaction at work and will accept responsibility for their results.
Forecasting is extrapolating or projecting the trend of the past experiences into the future. Forecasting sales by product and sale territory is a never-ending responsibility of a market analyst or a sale manager.
Budget control is the basis of control of the activities of a firm, or small-scale business and government.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
Procedure for Downloading the PDF (Docx) Material
Planning an Important Tool to Management of Small Scale Business can be downloaded by requesting the full set of materials at the project or seminar cost. The document will be sent via Microsoft Word (MS-Word) format via WhatsApp (e-mail) following payment confirmation.
| Seminar Material Cost ₦3,000 | Project Material Cost ₦5,000 |
Request Complete Material
 | Click here to request the Complete Material via WhatsApp including;
|
TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "Planning an Important Tool to Management of Small Scale Business" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "Planning an Important Tool to Management of Small Scale Business" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
Frequently Asked Questions (FAQ)
Can the material for “The Effect of Marketing Financial Services in Deregulation Economy Banking Industry” be used as a guide for Business Administration and Management (BAM) Project?
Yes it can be used — This research work titled “The Effect or Marketing Financial Services in Deregulated Nigerian Banking Industry” was carried out in Lagos state, Nigeria because of its peculiarity and consideration as the seat of banks in Nigeria. A theoretical background and literate review focusing on marketing in general, banking industry in Nigeria, financial services marketing in perspectives regulated deregulated economy and host of other relevant theories concerning the Nigerian banking industry was x-rayed. A total of 150 respondents who were mainly customers of UBA from 5 different branches were sampled through well-administered and structured questionnaires with a view to finding the effect of marketing strategy on the bank in this era of deregulation. Data were also collected from primary and secondary sources and based on …
Is the topic “The Impact of E-Payment System in Operation Efficiency in Nigeria Banks” recommended for Banking and Finance (BF) Project?
Yes it is highly recommended — The purpose of this study is to ascertain the impact of Information Technology on Banks. E − payment system in Nigeria banks. And the help to findings through questionnaire and chi-square method. The questionnaire is between the customers and the staff of the bank and other to discover whether the system is useful or not. Hypothesis is also let us have the real deal of the test. The hypothesis talk about Null hypothesis (Ho) and alternative hypothesis (Hi) and the alternative hypothesis is highly accepted. In conclusion the impact of information technology on banking e-payment system in Nigeria, this will contribute to improves the operation of banks and it will reduce the time been used by the customer in bank …
Can the material for “A Phonelogical Analysis of English Fricatives as Used Among the Yoruba Speakers of English Language” be used as a guide for English / Yoruba Project?
Yes it can be used — This research work is a cursory observation of how the English Fricatives are used among the Yoruba speakers of English Language. At the phonemic level of interference, English Language for instance has the voiceless fricatives /θ/ which is absent in the Yoruba Language. For this sound, the Yoruba Speakers of English substitute the voiceless alveolar fricative /t/. Thus, the English word “theme” and “thought” are realized as /tim/ and /tot/ respectively. This research work shall be looking at only the Yoruba people of the southern part, of the country, especially, the Yoruba people within the terrain of Oyo State. In this research work, emphasis shall be laid on the wrong pronunciation of sounds, especially those sounds that are as a result of factors, …
Can the material for “The Impact of Microfinance Banking in Rural Development” be used as a guide for Finance Project?
Yes it can be used — This project work examines the bank institution to rural economic in Etsako West Local Government in Edo State. Microfinance bank has long been recognized to play an important role in the economic development of rural area in Etsako West Local Government. The aim of mobilization and allocation of savings for productive, provision of structure for monetary management and serve as the basic for managing liquidity. The descriptive research method was used for this study. Data was collected making use of a structured questionnaire. The findings revealed that there is also absence of security needs to protect the bank properties. Based on the findings, the study recommends that the bank should train manpower and the government should provide infrastructural facilities. This …
Can the material for “Importance of Accounting to Non-Profit Making Organization” be used as a guide for Accountancy / Accounting Project?
Yes it can be used — This study is titled importance of Accounting to non profit making organization. What profit accounting does for non profit oriented organization is to enable the management is measuring performance decision making and adequate planning in finding out some possible solutions to the numerous problems. In chapter one, it deals with introduction background of the study, statement of study purpose of study significance of study research questions etc Hence, proper accounting is required in non profit making organization in order to ascertain the indebtedness of the organization and also pinpoint ways by which settlements may be made Chapter two deals with the literature review, importance of accounting to non profit making organization, the effects of accounting to non profit making organization significance role of accounting …
Can the material for “Design and Construction of Automatic Solar Street Light” be used as a guide for Electrical / Electronics Engineering (EE) Project?
Yes it can be used — In this project work, we are mostly concern about building a simple power streetlight which is automatically operated. There are four main components required to build a solar operated streetlight. The solar array, High efficiency D.C lamp section made by transistor, resistors, and the sensor LDR, changes controller which is made up of diode, resistors, LED, capacitor, and a battery of which the solar array is the most expensive. It is the solar array that produced a D.C voltage due to the energy received from the sun during the day , thereby making the battery to charge, as a result, keeping the streetlight into operation when it get dark. The basic circuitry on solar powered streetlight is the solar charge controller …
Can this topic “The Role of Human Capital Development in Economic Development” be used for Economics Project?
Yes it can be utilized for research — Although several theories of growth point towards a positive effect of human capital on growth, empirical evidence on this issue has been mixed. Using the Correlation and Regression analyses, this work examines empirically the role of human capital in Nigeria’s economic development. Empirical results indicate that there is, indeed a long-run relationship among labour force, physical capital investment proxied by real gross domestic capital formation, human capital formation, proxied by enrollment in educational institutions and economic growth in Nigeria. Findings show that there is a feedback mechanism between human capital formation and economic growth in Nigeria, Thus, the policy implication of the findings is that government should place a high priority on human capital development. Efforts should be intensified to …
Can this topic “Planning and Implementation of Computerized Election using an Electronic Voting System” be used for Political Science Project?
Yes it can be utilized for research — Computerized E-voting refers to the option of using electronic means to vote in referendums and elections. E-Voting is an election system that allows a voter to record his or her secure and secret ballot electronically. The inefficiency of voting process in Nigeria has resulted in a lot of problems. These problems have continued to obstruct the peace of democracy in Nigeria because the choice of a capable candidate is not encouraged by the current system. The aim of the study is to plan and Implement a Computerized Election using an Electronic Voting System in Nigeria. In achieving this aim, the following specific objectives were set out to design and develop a software platforms for voter registration, election voting, real-time election …
Can the material for “Socio Economic and Cultural Factors Militating Against Community Development in Ideato Local Government Area of Imo State” be used as a guide for Sociology Project?
Yes it can be used — Over the years, Ideato North Local Government Area of Imo state has been experiencing a slow rate of development in the area. Based on this therefore, this work was designed toinvestigate the socio-economic and cultural factors militating against rural development in Ideato North Local Government Area. Two hundred respondents were randomly selected and used. Questionnaire was the instrument used for data collection. The data collected were analysed using SPSS and chi-square, tables, charts and percentages were used to present the results. Several findings were made as regards socio-economic and cultural factors militating against rural development in Ideato North LGA. One major factor is that Ideato people are facing total neglect from the government which goes a long way in affecting …
Is the topic “Comparative Toxicity of Crude Oil and Kerosene on the Growth of Nitrifying Bacteria Isolated From Soil” recommended for Microbiology Project?
Yes it is highly recommended — Crude oil and kerosene have useful applications in the society and are, therefore, used as sources of income and energy. However, the spills arising from crude oil and kerosene in our environment are becoming a visible problem in our ecosystem. Crude oil and kerosene pollute our farmlands and other arable lands and may negatively affect the growth and activities of nitrifying bacteria responsible for nitrification process, leading to loss of soil fertility. Considering the important roles played by nitrifying bacteria in soil fertility in our ecosystem, the assessment of the response of the nitrifying bacteria to pollution stress exerted by crude oil and kerosene on them was investigated. Two genera of nitrifying bacteria were isolated from the soil and were …