BUSINESS PLANNING CONCEPT AND MEANING


Small business operate in an environment which changes are inevitable factors. technological changes, fluctuation in prices of raw materials, changing government policies and regulations changes in consumer taste and preference among other things are inevitable factors that have been shaping and reshaping business activities in Nigeria. they are thus unpredictable however in view of their unpredictability, it has become more necessary for the small entrepreneurs to determine their business goals carefully, and then construct plans for attaining these goals no matter what the changing environment will be


PLANNING DEFINED
Planning is simply the thinking that takes place prior to action or decisions its central is with the future and the future is nothing but the summation of our decisions. thus planning can be described as an anticipatory decision making.


 planning is done to decide what to do and how to do it prior to taking action. ultimately planing is considered of key elements of thoughts and communication designed to give meaning to the present by focusing on the importance of change and the utilization of resources. In planning the entrepreneur consider goals to be attained in the future and how to present limitations to achieving such goals may be reduced or removed. he designed actions and program's for progressing toward selecting goals and for determining desired changes in policies practices or current goals.

The common saying  ''if you fail to plan you are planning to fail'' or ''the business that does not plan is om the road to extinct of instinct''suggests that, planners, planning or entrepreneurs who plans must take provisions for a network of channels for feedback, analysis of progress and control measures to safeguard the objective of the organization. In fact it is worth saying at this point that the compute software maker e.g etisalat, glo, mtn, airtel etc plan before bringing their products to the market or else their failure to plan will amount to fall in selling their products to the consuming public

In the same parlance,small business entrepreneurs will end up with all their capital outlay lost if they fail to plan before embarking on any viable business venture

Planning will have no future if it ends in the dustbin of the entrepreneur without making plan for the business enterprise towards obtaining and attaining it goals. However, we can go on and on if we insist in discussing planning in most in small business enterprises for conceitous business success.

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