This revision presentation provides business students with an overview of the role of planning in business strategy. It highlights the key parts to the strategic planning process and considers the main business benefits of effective planning.
In this revision presentation we look at recent trends in UK trade union membership, consider how trade unions can affect both pay and employment and challenge the textbook view that union-negotiated pay increases inevitably have negative consequences for employment.
In this revision presentation we cover key examples of pure and quasi public goods and consider the arguments for and against an increase in government spending on public goods.
Poverty Reduction Policies in Low Income Countriestutor2u
This revision presentation covers some of the main causes of continued high levels of extreme poverty in low and middle income countries and considers a range of pro-poor government interventions designed to increase productivity and regular employment and waged income in formal labour markets.
You don’t need to produce a lot of evidence in your macroeconomics exams but knowing some basic and key facts and figures can make your answers stand out from the crowd! Here is a quickfire journey through twenty important economic numbers that won’t change before the exam – use them to support your answer and impress the examiner!
Microeconomics - Great Applied Examples for Examstutor2u
In this presentation, I have chosen loads of current examples that you might want to use as context in your microeconomics exams. We look at examples from different market structures, recent mergers and takeovers, the world's most valuable companies, the largest employer, unicorn business, de-mergers, the biggest initial public offerings (IPOs) and much else. Hopefully a useful video to go through to add some super examples into your revision notes.
This revision presentation considers the variety of stakeholders impacted by business activity. How will a change in objectives, such as a move from profit maximisation to revenue maximisation have an effect on different stakeholders?
This revision presentation looks at profit satisficing as an alternative objective for businesses. Why might firms satisfice? What are some of the possible consequences for economic welfare and efficiency?
In this short revision video, we look at the substantial productivity gap between the UK and many of the UK’s major competitor countries.
Paul Krugman, the Nobel Prize-winning economist said twenty fives years ago that “Productivity isn’t everything, but in the long run it is almost everything,”
In this presentation we consider the theory of wage-setting with a monopsony employer and the possible impact that a trade union might have on wages and employment. We also look at efficiency wage theory and mutual gains from pay bargaining between stakeholders.
For many economists, the labour market is the most important market of all to study, analyse and evaluate. Like product markets for goods and services, labour markets can also fail. The main types of labour market failure are labour immobility including skills gaps, inequality, disincentives to be economically active, labour market discrimination and the effects of monopsony power of employers.
Updated revision presentation on aspects of behavioural economics and topical issues where behavioural nudges are being used to change the choices of consumers and businesses.
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Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
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3. What is a plan?
A plan is a
statement of
intended
means to
accomplish a
goal
4. Types of plan in business
• Strategic plan - sets out the overall
direction for the business in broad scope
• Business plan – the actions that a business
will take to compete
• Operational plan
– Details how the overall objectives are to be
achieved
– Specifies what senior management expects from
specific departments or functions
5. Levels of planning
Strategic Business Operational
Level Business wide Business unit Functional area
Focus Direction and Direction and Resources and
strategy for strategy for the action for
whole business business unit functional area
Nature Broad and More detail on Specific to the
general goals and tasks function
Time Long term 1-2 years Up to one year
horizon 3+ years
7. The business benefits of planning
Planning gives: Planning helps
• Certainty • Shape thoughts
• Confidence • Think through
• Route map scenarios
• Evidence to others of • Co-ordinate activities
our thoughts • Identify SWOT
• Examine risks
• Communicate ideas
8. A plan is more than a forecast
• Forecasts are predictions - they concern
events and trends over which the
business has little or no control
• Plans are about what the business
intends to do
• But forecasts (especially sales forecasts)
are essential in planning
9. Top down or bottom up planning?
Top down planning Bottom up planning
• Decisions taken at the top • Involves all levels of
• Lower level managers managers and others
have little input • Ensures all are involved and
• Plans are passed down all issues considered
the line for • Functional managers able to
implementation suggest and evaluate plans
• Planers are able to focus • A danger of having too
on strategic issues but narrow a perspective
can be divorced from the without seeing the “big
detail picture”
10. Key planning questions
• Where are we now?
• How did we get here ?
• Where would we like to be?
• How do we get there?
• Are we on course to achieve our
targets?
11. The planning process
• Analyse the external environment
• Analyse the internal environment
• Define the business and mission
• Set corporate objectives
• Formulate strategies
• Make tactical plans
• Build in procedures for monitoring and
controlling
13. Where are we now?
• The purpose of situational analysis is to
determine which opportunities to pursue
• PEST / PESTEL analysis - identify and analyse
trends in the environment
• Competitor analysis – understand and, if
possible, predict the behaviour of competitors
• Audit of internal resources
• SWOT analysis: build on strengths ,resolve
weaknesses, exploit opportunities, confront
threats
14. Situational analysis
• Analysing the present situation is the prelude to
devising objectives and strategies for the future
• We need to understand where we are and
where we have come from before planning the
future
• But we must always be careful to avoid paralysis
by analysis
• This describes a situation in which no decisions
are made because of the disproportionate
amount of effort that goes into the analysis
phase
15. Where are we going?
• Vision
– Non-specific directional and motivational guidance for the
entire business
– What will the business be like in five years time
• Mission statement
– An business’s reason for being
– It is concerned with the scope of the business and what
distinguishes it from similar businesses
• Objectives
– SMART objectives
• Goals
– Specific statements of anticipated results
16. Keep up-to-date with business
stories, resources, quizzes and
worksheets for your business
course. Click the logo!