Management

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1

Introduction
2
Definition of planning
3
Characteristics of planning
4
CONTENTS 5
The process of planning

Types of planning
6
Characteristics of effective plans
7
Importance / benefits of planning
8
Barriers of planning
9
Criticism of planning

conclusion
1 introduction

Planning in management is the process of envisioning the future, setting objectives,


and determining the actions needed to achieve those objectives. It involves analyzing
the current situation, forecasting future trends, and making decisions about how best to
allocate resources to achieve organizational goals. Planning provides a roadmap for
guiding organizational activities, helps in coordinating efforts across different
departments, and enables managers to anticipate and respond to changes in the
business environment.
Definition of planning

Planning is the process of setting goals,


determining actions to achieve those goals,
and outlining the necessary resources to
execute those actions effectively. It involves
forecasting future scenarios, making decisions,
and organizing tasks to reach desired
outcomes efficiently. Planning can occur at
various levels, from personal endeavors to
organizational strategies and even on a larger
scale, such as urban planning or national
economic planning.
Function of planning
 Setting Goals/Objectives: This involves defining what you want to achieve.
 .Analyzing the Current Situation: Understanding the current state helps in
identifying strengths, weaknesses, opportunities, and threats It provides a basis for
developing strategies to achieve goals.
 Developing Strategies: Strategies are broad approaches or plans of action
designed to achieve the goals set.
 Creating Action Plans: Action plans break down strategies into specific tasks,
deadlines, responsibilities, and resources required. They provide a roadmap for
implementation.
 Allocating Resources: This involves determining the necessary resources (such as
finances, personnel, materials) and allocating them effectively to support the
action plans.
 Implementing Plans: Executing the action plans according to the specified timeline
and utilizing the allocated resources efficiently.
 Monitoring and Evaluation: Regularly assessing progress towards goals, identifying
any deviations from the plan, and making necessary adjustments., or lessons
learned from implementation.
 Effective plan Evaluation helps in determining the effectiveness of the plan and its
components.
 Feedback and Revision: Gathering feedback from stakeholders and using it to
improve future planning efforts. Plans may need to be revised based on changing
circumstances.
2 Characteristics of planning

An intellectual
process

Planning is an
Looking-ahead intellectual
Goal-oriented process. Planning is
Planning is a Planning is a mental exercise
Continuous Planning is goal- involving creative
looking ahead.
Decision making Process. Planning oriented. Planning is thinking, sound
is a never ending Planning is
decision making is function due to the made to achieve
done for judgment and
an integral part of dynamic business desired objective of future. imagination.
environment.
planning. business.
3 The process of planning

The planning process is the steps a company takes to develop budgets to guide its future activities.
Does the Process Work? Although the specific steps differ slightly from company to company and depend on which type of plan
you're developing, there are general steps that should be taken in order to ensure a good result. The steps in the planning process
are:
•Develop objectives*
•Develop tasks to meet those objectives
•Determine resources needed to implement tasks
•Create a timeline
•Determine tracking and assessment method*
•Finalize plan* Distribute to all involved in the process
•Choose the best plan of action
•Identify aids for barriers to planning
Strategic planning
1
Strategic planning is usually used for long-term operations,
while tactical and operational planning are used in short-term
goals and resource projection.

Tactical planning
2
Tactical planning is a significant part of the planning process,
and it is the step in which employees identify and prioritize
their goals
Operational planning
3 Operational planning is a process that helps organizations to
set goals and objectives

Projects planning
4 Project plans (plans to implement projects such as launching
new products or building a new plant
4 Types of plans

Absolutely, plans can indeed be classified based on various


criteria. Here's a breakdown according to the classifications you
provided
Frequency of use Time span covered Level of management

Strategic Plans: Developed by


• Standing Plans: These are top-level management, strategic
plans used repeatedly • Short-Range Plans: These plans set the overall direction and
over a long period to cover a period of one year priorities for the organization,
handle frequently or less and focus on typically covering three to five
recurring events or immediate actions and years.
situations. Examples goals. Tactical Plans: Developed by
include policies, • Long-Range Plans: These middle-level management,
procedures, and rules. cover periods of three tactical plans translate strategic
years or more and are plans into specific actions and
• Single-Use Plans: These concerned with the initiatives to be implemented
are developed to address organization's overall within one year or less.
specific, one-time events direction and objectives. Operational Plans: Developed by
or circumstances. Once • Intermediate Plans: These lower-level management,
the event is over, the plan cover time frames operational plans detail the day-
is no longer needed. between short-range and to-day activities and processes
Examples include projects long-range plans, typically required to achieve tactical
and programs. spanning one to three year objectives, covering short time
frames such as weeks or months.
5 Characteristics of effectives plans

Effective Plans Possess Several Key Characteristics:

•Clarity: Plans should be clear and easy to understand, ensuring that everyone involved comprehends their roles,

responsibilities, and objectives.

•Realistic: Plans must be grounded in reality, considering available resources, constraints, and capabilities

•Flexibility: Effective plans are adaptable to changing circumstances and unforeseen events.

•Action-Oriented: Plans should provide clear guidelines and actionable steps to be taken to achieve the desired

outcomes

•.Motivating: Well-crafted plans inspire and motivate individuals by providing a clear vision of what success looks like

and how their contributions contribute to the larger goals.

•Comprehensive: Plans should cover all necessary aspects and considerations relevant to achieving the desired

outcomes. They should address potential risks and contingencies to ensure preparedness for various scenarios.
6 BENEFITS OF PLANNING

REDUCES THE
PROVIDES DECISION
INNOVATIVES IDEAS RISK OF
MAKING
DIRECTION UNCERTAINTY

INNOVATIVE IDEAS Planning EDUCES THE RISKS DECISION MAKING


is thinking in advance what OF UNCERTAINTY Planning helps make
PROVIDES DIRECTIONS By to do and how to do it.
Planning enables a rational decisions by
stating in advance how Innovation is required to
work is to be done, modify the plans for the manager to look choosing the best most

planning provides growth and expansion of forward and take profitable alternative
direction for action. the business. appropriate steps which may bring lower
cost, adaptable to the
organisation and
situations.
7 Barriers of planning

• Lack of commitment to the planning process.


• Inferior information. No matter how well managers plan, if they are basing their planning on inferior information, their
plans will probably fail.
• Focusing on the present at the expense of the future. Failure to consider the long‐term effects of a plan because of
emphasis on short‐term problems may lead to trouble in preparing for the future.
• Too much reliance on the organization's planning department. Many companies have a planning department or a
planning and development team. These departments conduct studies, do research, build models, and project probable
results, but they do not implement plans. Planning department results are aids in planning and should be used only as
such. Formulating the plan is still the manager's responsibility.
• Concentrating on controllable variables. Managers can find themselves concentrating on the things and events
that they can control, such as new product development, but then fail to consider outside factors, such as a poor
economy
• Lack of involvement.
8 Criticisms of planning

1.Rigidity: Criticism: Planning can lead to rigidity within an organization, as it may restrict flexibility and adaptability to changing
circumstances.
Example: A company meticulously follows its annual strategic plan, even when market conditions drastically shift, resulting in missed
opportunities or inefficiencies.

2.Time-Consuming:Criticism: The planning process can be time-consuming, requiring extensive data analysis and deliberation, which
may delay decision-making.
Example: A company spends several months developing a detailed strategic plan, but by the time it's finalized, market trends have
shifted, rendering some of the plan's assumptions outdated.

3. Overemphasis on Forecasting: Criticism: Planning often relies heavily on forecasting future events, which can be unreliable and
lead to inaccurate predictions.
Example: A retail company predicts a surge in demand for a particular product based on market research, but the anticipated trend fails
to materialize, resulting in excess inventory and financial losses.
9 conclusion

In summary, planning and strategy are integral components of effective


management, guiding organizations toward their objectives while
adapting to dynamic environments. Planning facilitates coordination and
resource allocation, enabling businesses to anticipate challenges and
capitalize on opportunities. Strategic thinking encourages innovation
and proactive adaptation to changing market conditions, fostering
competitiveness and growth
THANK
YOU
FOR
YOU ATTENTION

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