Written Assignments Ecplain the following statements: 1.

Planning is looking ahead; Control is looking back Planning is looking ahead; Control is looking back Planning is a process in which goals are set, strategies are developed and tasks and scheduled are made to accomplish these goals. In this sense, planning is definitely looking ahead. Planning is always done for the preparation for the future and gives us some control over the future. It is the process of setting realistic goals and choosing effective ways to achieve those goals which will be useful for making strategies for the business to succeed. But planning is not the ending with such goals, strategies and guidelines. implementation and controls. It has relation with Because plans are not always proceed as Controlling is

conceived. The control process measures progress towards goal attainment and indicate corrective action if too much deviation is detected. looking back to the planning and the history of some strategies from the previous planning of the organization or business. Controlling investigates whether the plan has been successful and reach it goal. It has to analyze the performance of planning, organizing and leading. So, we can say that controlling is looking back to investigations, analysis and understanding and for checking the effectiveness and efficiency of the plan. Controlling served us the experimentation of the plan and compares it to the past strategies created by the previous plan. It will evaluate the result and find the corrective action to the weaknesses or failure of the present plan in order to make a new and successful plan.

2. Discuss the importance of Strengths, Weaknesses, Opportunities, ThreatsSWOT analysis. In starting a business venture or making a decision, you should know the Strength, Weaknesses, Opportunities and Threats (SWOT). Lets say think all the possible consequences and obstacle you will meet in pursuing your business or decision. Making decision and starting business you should be think carefully and know all the good and bad effects. One of the most renowned tools used for

strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in one business, organization and decision is the SWOT analysis. In one business venture, using SWOT framework, you can start to craft a strategy that helps you distinguish yourself from your competitors, so that you can compete successfully in your market. On the other hand, SWOT analysis is not limited only in business or profit seeking organization. SWOT analysis may be used in any decision making situation when a desired end-state (objective) has been defined. SWOT analysis may also be used in creating a recommendation during research, study or survey. SWOT analysis allows decision makers to bring transparency to the various factors that can affect the achievements of their self as well as their goals and objectives. Using the low level details provided by SWOT analysis, business can clearly see what will or will not work for them towards their goals and objectives. SWOT analysis is composed of four factors that included strengths, weaknesses, opportunities and threats. These four factors is also known as the major players. When it comes to business and decision making each player refers to things that may be internal or external to the business, which might have significant impact on achieving goals and objectives. Some characteristics and importance of each major player is given below: Strengths- Strengths are the qualities that enable us to accomplish the organizations mission. These are the basis on which continued success can be made and continued/sustained. These are what you are wellversed in or what you have expertise in, the traits and qualities your employees possess (individually and as a team) and the distinct features that give your organization its consistency. Strengths are the beneficial aspects of the organization or the capabilities of an organization. Weaknesses- Weaknesses are the qualities that prevent us from accomplishing our mission and achieving our full potential. These weaknesses deteriorate influences on the organizational success and growth. Weaknesses are the factors which do not meet the standards we feel they should meet. They must be minimized, avoided, and eliminated. Opportunities- Opportunities are presented by the environment within which our organization operates. These arise when an organization can take benefit of conditions in its environment to plan and execute strategies

that enable it to become more profitable.

Organizations can gain Organization

competitive advantage by making use of opportunities. whenever they arise.

should be careful and recognize the opportunities and grasp them Threats- Threats arise when condition in external environment jeopardize the reliability and profitability of the organizations business. They compound the vulnerability when they relate to the weaknesses. Threats are uncontrollable. When a threat comes, the stability and survival can be at stake. SWOT analysis is a strong tool, but it involves a great subjective element. It is best when used as a guide, and not as a prescription. Successful businesses build on their strengths, correct their weakness and protect against internal weaknesses and external threats. its competitors. SWOT Analysis helps in strategic planning in following mannera. It is a source of information for strategic planning. b. Builds organizations strengths. c. Reverse its weaknesses. d. Maximize its response to opportunities. e. Overcome organizations threats. f. It helps in identifying core competencies of the firm. g. It helps in setting of objectives for strategic planning. h. It helps in knowing past, present and future so that by using past and current data, future plans can be chalked out. SWOT analysis provide information that helps in synchronizing the firms resources and capabilities with the competitive environment in which the firm operates. SWOT analysis may be simple but a useful framework for analyzing your organizations strengths and weaknesses, and the opportunities and threats that you face. It helps you focus on your strengths, minimize threats, and take the greatest possible advantage of opportunities available to you. Also, SWOT analysis can be used kick off strategy formulation, or in a more sophisticated They also keep a watch on their overall business environment and recognize and exploit new opportunities faster than

way as a serious strategy tool. You can also use it to get an understanding of your competitors, which can give you the insights you need to craft a coherent and successful competitive position. 3. Prepare a SWOT analysis of your respective organization.