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PROJECT PLANNING
Typology: Lecture notes
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Project planning basically is for the entrepreneur to plan for survival,profit and diversification
FUNCTIONS OF PLANNING
The factual basis of the project,its customers and its environment should be investigated To make planning realistic,it is necessary to have a clear understanding of one’s business strength and weakness Alternative opportunities based the resources of the project and the anticipated needs of the customer should be developed Planning is process,not an isolated ocassional act,hence plan should be periodically reviewed and not be a mere paper work
COMPANY’S FINANCIAL STRENGTH
GROWTH POTENTIAL PROFIT POTENTIAL FINANCIAL STABILITY TECHNOLOGICAL KNOW-HOW RESOURCE UTILISATION CAPITAL INTENSITY EASE OF ENTRY INTO MARKET PRODUCTIVITY,CAPACITY UTILISATION
An aggressive posture means that firm must fully exploit opportunities available to it,must step into acquisition opportunities, maintain optimum allocation of resources to maintain competitive strength and improve its market share. Here the company enjoys 2 advantages a)a competitive advantage and a considerable financial strength b)attractive industry operating in a relatively stable environment
Here the company enjoys a)A competitive advantage but has a limited financial strength b)Belongs to an attractive industry operating in a relatively unstable environment ** It means the company have to enhance competitive advantage by product improvement and differentiation,widen the product line and properly raise and maintain financial resources