How do companies allocate resources to achieve the objectives? How do companies mobilize plans into actions? How do results compare with the plan and are new actions needed?
In your discussion, respond to the following:
Explain the planning phase and its three steps.
Explain the implementation phase and its four components.
Explain the evaluation phase.
Allocating resources involves careful planning. The various departments in an organization must have their own plans and targets and resources must be allocated depending on these plans and targets.
BusinessLink (2012) suggests that "if a particular business unit or department has been given a target, the business plan should allocate sufficient resources to achieve it. These resources may already be available within the business or may be generated by future activity".
Since an organization is usually composed of various departments and the resources of the company may be limited, it is necessary that the allocation of resources must be prioritized. "It is important that resources are prioritized, so that areas of a business which are key to delivering the overall aims and objectives are adequately funded and if funding isn't available this may ...
The solution describes how companies allocate resources and mobilize plans into actions to realize the reasons for its being. The solutions also discussed the planning phase and its three steps, the implementation phase and its four components, and the evaluation phase.