Corporate planning practices in private sector companies in India

Abstract

This paper summarises the results of a study of corporate planning practices in private sector companies in India Even though long term planning is not very widely practiced by companies in the private sector, those companies which are practicing it have developed some degree of sophistication in this direction. Planning in these companies is characterised by explicit statement of company's objectives and roles, specific delineation of sectors for future growth, specific organizational responsibilities for scanning opportunities and detailed operational planning. While companies to the process of corporate planning, they found that process as supportive to the process of corporate planning , they found that corporate planning within the framework of national economic planning is both feasible as well as rewarding: The long range goals of economic development presented by the plans is a sufficient justification to undertake long term corporate Planning. The study reveals both the uncertainties arising from government regulation as well as the certainties that such revelations provide to companies. In general, the the study points to the importance of government and the objectives of national economic development programmes as a significant area for attention of planners.