MARKETING PLANNINGSohaib Rabbani Khan MS (Marketing), PhD (In progress) email@example.com
Basic Managerial Functions OrganizingPlanning Leading Controlling
Well Plan is half donePlanning is a mental predisposition to do things in an orderly way, to think before acting and to act in the light of facts rather than guesses. Planning is deciding best alternatives among others to perform different managerial functions in order to achieve predetermined goals. (Urwick)
According to Koontz and O’ Donnell,“Planning is deciding in advancewhat to do, how to do and who is to do it. Planning bridges the gap between where we are to, where we want to go. It makes possible things to occur, which would not otherwise occur.”
PlanningPlanning involves tasks that must be performed to attain organizational goals, outlining how the tasks must be performed, and indicating when they should be performed.
Steps in planning function:1.Establishment of objectives2.Establishment of planning premises3.Choice of alternative course of action4.Formulation of derivative plans5.Securing cooperation6.Follow up / Appraisal of plans
Proper planning accomplishes the following1.Managing uncertainty2.Better focus3.Improves coordination4.Basis for control5.Improves effectiveness
Type of PlansLong term and short term planFormal and informal plansProactive and reactive plansStrategic and operational plans
The Planning Process:1. Goal setting: Identification and formulation of objective2. Developing plans: Choice between alternative plans3. Implementation: Execution of the plan
Successful planning process:1. Everyone participates2. Board and staff educated in planning3. Board and staff explore new ideas4. Board takes advantage of opportunities5. Necessary resources available
Making planning effectiveLinked to long term objectivesConsistencyEveryone participatesFeasibleFlexibilitySimpleTop management support
What is an objective?“Objectives are goals,aims or purposes thatorganization wish overvarying periods of time “
ControllingControlling involvesmonitoring actualperformance, comparingactual to standards, andtaking actions if necessary.
MBO A method by which managersand employees define objectives for every department, project and person, and use them to monitor subsequent performance
The nature and purpose of MBOMBO is concerned with goal setting andplanning for individual managers and their unitsThe essence of MBO is a process of joint goalsetting between a supervisor and a subordinateManagers work with their subordinates toestablish performance goals that are consistentwith higher organizational objectivesMBO helps to clarify hierarchy of objectives asa series of well defined means-ends chains.
Decisional RolesRoles that revolve around making choices.- Entrepreneur – Seeks opportunities.Basically they search for change, respond to it,and exploit it.- Negotiator – Represents the organization atmajor negotiations.- Resource Allocator – Makes or approves allsignificant decisions related to the allocation ofresources.- Disturbance Handler – Responsible forcorrective action when the organization facesdisturbances.
Essential steps for MBO1. Set goals : The most difficult step2. Develop Action Plan: For both work groups and individuals3. Review progress / take correctiveactions : Periodic during the year4. Appraise overall performance :Review annual goals
Advantages : Better communication and coordination – Frequent reviews and interactions between superiors and subordinates Motivation – involving employees in the whole process of goal setting and increasing employee empowerment Clarity of goals Subordinates tend to have a higher commitment to objectives
Disadvantages: Time consuming Volume of paper work
New Workplace Issues and Challenges Technology and Speed Networking and Boundaryless Globalization Relationships and Diversity Ethics and Knowledge, Social Learning, Responsibility Quality, and Continuous Improvement Participative Management, Knowledge Empowerment, Management and TeamsGENERATIONAL DIFFERENCES Change, Creativity, Innovation, and Entrepreneurship