Case Study: Betaconn Corporation
Introduction
All types of organizations whether it is a private company or government-owned organization it requires to do proper planning. The five years plans are made by the government in the country, while business firms have its own plans that may be related to production plan, sales plans, etc. Organizations strive to stay in the market to earn profits, but this can only happen if the management takes necessary steps for effective planning that will ensure for smooth functioning of the organization. Managers put in immense efforts for achieving the organizational goals, but they also need to make business predictions for the future, so that they are well prepared in advance.
The reports analyses and discusses the planning function in light of the Betaconn Corporation case study.
Task
Betaconn Corporation is a famous …show more content…
There are different ways to act for achieving the objectives. The alternative courses of actions needs to be identified, which may be done in routine or innovatively. Alternative courses of actions may be developed by involving people to share ideas
4. Evaluation of alternative courses of actions
For next steps the pros and cons for each alternative should be weighed in the light of the objectives that are to be achieved. The alternatives are evaluated based on its consequences and feasibility.
5. Selection of an alternative
The next step requires decision making for adopting the best plan. The ideal plan that would be chosen should be feasible with less consequences. The decision for selecting the best alternative courses of action will be based upon the manager’s judgment, knowledge and experience.
6. Implementation of the plan
This step requires to put the plan in action, and it involves other managerial functions also. For example, the company has a plan to increase the production, then they require more labor and need to purchase more machinery.
7. Follow-up
All types of organizations whether it is a private company or government-owned organization it requires to do proper planning. The five years plans are made by the government in the country, while business firms have its own plans that may be related to production plan, sales plans, etc. Organizations strive to stay in the market to earn profits, but this can only happen if the management takes necessary steps for effective planning that will ensure for smooth functioning of the organization. Managers put in immense efforts for achieving the organizational goals, but they also need to make business predictions for the future, so that they are well prepared in advance.
The reports analyses and discusses the planning function in light of the Betaconn Corporation case study.
Task
Betaconn Corporation is a famous …show more content…
There are different ways to act for achieving the objectives. The alternative courses of actions needs to be identified, which may be done in routine or innovatively. Alternative courses of actions may be developed by involving people to share ideas
4. Evaluation of alternative courses of actions
For next steps the pros and cons for each alternative should be weighed in the light of the objectives that are to be achieved. The alternatives are evaluated based on its consequences and feasibility.
5. Selection of an alternative
The next step requires decision making for adopting the best plan. The ideal plan that would be chosen should be feasible with less consequences. The decision for selecting the best alternative courses of action will be based upon the manager’s judgment, knowledge and experience.
6. Implementation of the plan
This step requires to put the plan in action, and it involves other managerial functions also. For example, the company has a plan to increase the production, then they require more labor and need to purchase more machinery.
7. Follow-up