IMPORTANCE OF BUSINESS PLANNING IN AN ENVIRONMENT LACKING ECONOMIC PREDICTABILITY

Tudor Ciumara ()

Studii Financiare (Financial Studies), 2010, vol. 14, issue 3, 147-151

Abstract: The importance of business planning in an environment that lacks economic predictability is enhanced because it increases the ability of firms to be proactive. It is however necessary to accept the fundamental assumption that planning activity is conducted in a turbulent environment, where unpredictable events occur frequently. Planning is possible even when changes are common and difficult to predict, by adopting a flexible model to address all significant aspects.

Keywords: business planning; predictability; strategy (search for similar items in EconPapers)
JEL-codes: D81 L21 L22 M10 M13 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:vls:finstu:v:14:y:2010:i:3:p:147-151

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