Business Planning And Decision Making - 879 Words

People are constantly making plans or making decisions. In morden business world, a plan has to be made if a new project been assigned, or there is going to have a major change in the direction of where the business will be reroute. A good plan will parepare us better for uncertainty, which can help to ensure the success in the future. Meanwhile, business decisions are constantly being made by managers at each management level. A good decision determines the fail or success of a business operation. No doubt that business planning and decision making are mututal important in a business operation, many factors can contrubute to quality planning and decision making. Among all the factors, personal factors and environment factors are the two major topic in today’s business world. The purpose of this article is to take a deep look at what are the major personal and environmental facors in today’s business world that will positively influence the business planning and decisio n making. To answer above questions, we should first take a deep look at what are the steps involved in basic business planning process. Business planning are understand widely as the the quantative works that the founders of a entrepreneur carried out to collect business information and research for new opportunities. The basic activities are gathering and analyzing information, evaluating objetives, identifying risks and strategy, preparing or enlarging funding, and compiling paper plan (Cox, 2014).Show MoreRelatedManagerial Accounting1152 Words   |  5 PagesAccounting Accounting is a crucial part in running a business. There are various forms of accounting that can be used, it is very important to know which technique is best to use for what companies. Once you figure out a particular technique to use, it is important to keep an open mind if there are any changes that need to take place in the business. By keeping an open mind helps the business adjust and be able to make the right decisions. 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