PLANNING AN IMPORTANT TOOL TO MANAGEMENT OF SMALL SCALE BUSINESS

Abstract

This study is on planning an important tool to management of small scale business. The total population for the study is 200 staff of selected SMEs in Onitsha, Anambra State. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made up secretaries, managers, senior staff and junior staff was used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies

 CHAPTER ONE

INTRODUCTION

• Background of the study

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, and 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.

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 tends 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.