A Plan (Part II of II)
Today, we’ll continue looking at what a plan is:
Every business must plan for additional sales, profits, expansion, new products … for growth. Overall planning of running the business is a key function of management. In today’s times, with so many outside forces and pressures acting on a business, management must spend more time in this area than in the past. Plans are based on outside data and facts as well as from operational information reports submitted regularly by departments and sub-departments. With today’s technological advancements, intense competition is always a key factor that must be planned for in the strategic thinking that is done.
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