Planning
Planning
Planning
PLANNING
- It is the essential management function that includes the formulation of one
or more detailed plans to attain an ideal balance of needs or demands with
the available resources.
- (it’s likewise referred to as forethought) it is the method of thinking about
and organizing activities necessary to attain the desired goal.
- is a primary function of management that defines and outlines the structure
to be followed by the business
and PLANNING
- is identifying in advance, what to do, who is to do, how to do, and when to
do
- links the gap between where we are and where we want to go
- gives target and allocates resources in an organized manner
- serves as a standard for control
- is a mental process and intellectual exercise
- can be long-term and short-term
- could be strategic, tactical, and operational
● STRATEGIC PLANS
● TACTICAL PLANS
● OPERATIONAL PLANS
● CONTINGENCY PLANS
Strategic Plan
- is a process in which an organization's leaders define their vision for the
future and identify their organization's goals and objectives
- a high-level overview of the organization
- long term plan (typically 5 years)
- forward looking
Tactical Plans
- support tactical plans by converting them into specific plans significant to
a distinct area of the organization
- tactics used to achieve the strategy
- short-term plan (typically 1 year or less)
- includes specific goals , budget, and resources
Operational Plans
- take a seat at the lowest of the totem pole; they are the plans created by
frontline or low-level managers
- a practical document which outlines the key activities and targets an
organization will undertake during a period of time, usually one year.
Contingency Plans
- permit a manager to be flexible and change-savvy by presenting an alternative
course of action, which may be applied if an original plan fails to provide the
predicted result.
- also known colloquially as Plan B, is a plan devised for an outcome other
than in the usual (expected) plan
PARTS OF PLAN:
● Objectives or Goals – objectives are the prime parts of the plans in the
definition, we have stated that planning involves the determination of
desired future events.
● Mission – It is the purpose or reason for the existence of an organization.
● Long-Range or Short-Range Objectives – Long-range objectives
generally go beyond the current fiscal year of the organization. Then
short-range objectives can be set to help achieve the long-range
objectives.
● Program – It is the actual course of action intended to bring out the
desired objective. To improve the quality level of a product, a company
may institute a quality awareness program.
● Policies – These are the basic guidelines of action. They indicated what is
permitted and not permitted.