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Planning & decision making

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    Planning & decision making Planning & decision making Presentation Transcript

    • Planning & Decision Making Business Management Unit 1
    • Planning
      • Looking ahead and chalking out future courses of action to be followed.
    • Planning
      • Takes into consideration
        • Available and prospective human and physical resources of the organization
        • To get effective co-ordination, contribution & perfect adjustment
    • Planning
      • Is a mental predisposition to do things in orderly way
      • To think before acting
      • To act in the light of facts rather than guesses
      • Is deciding best alternatives among others
      • To perform different managerial functions in order to achieve predetermined goals.
    • Planning Defined
      • Planning is deciding in advance what to do, how to do and who is to do it.
      • Planning makes possible things to occur.
    • Steps in the Planning Process
      • Establishment of objectives
      • Establishment of planning premises
      • Choice of Alternative course of action
      • Formulation of derivative plans
      • Securing co-operation
      • Follow up/Appraisal of plans
    • Types of Plans
      • Operational Plans
      • Tactical plans
      • Strategic plans
      • Contingency plans
    • The decision making process
    • Steps in the Decision Making Process
      • Define the problem
      • Identify the limiting factors
      • Develop potential alternatives
      • Analyze the alternatives select the best alternative
      • Implement the decision
      • Establish a control and evaluation system