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