PLANNING AND DECISION-MAKING IN A BUSINESS - THIRUKKURAL’S PERSPECTIVE

Management theories and thoughts have been developed from ancient times. Thirukkural can be considered as pioneer in providing some of the most important management theories and thoughts. Thiruvalluvar with the means of short couplets, or Kurals has thrown light on various management concepts like planning, financial decision making, SWOT analysis and many more. Thirukkural emphasises that work that is not done by suitable methods will fail even with the support of many people. This shows the importance of planning and decision making in a business. It also states that proper planning helps to design the methods and techniques to be adopted to carry a work. Thirukkural highlights the dangers of go error and drop error in decision-making, which can significantly impact the business’s return. It also suggests that there is a limit to the risk taken, and if it is taken beyond that limit, it may lead to closure of the business. Thirukkural also affirms the significance of social objectives of a business.