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Planning
- 3. Group Members Muhammad Awais Raza 161240 Ayla Waqar 161244 Syed Asad Rafique 161252 Fatima Ejaz 161255 Nudrat Elahi 161362
- 4. Outlines Basic Concept Planning Nature, and Importance Planning Period Planning Process Dimensions Types Strategic Planning Management by Objectives
- 6. Basic Concept Know what we mean by planning. Be familiar with the nature of planning. Know the necessity and importance of planning. Understand and determine the main factors that affect the planning effectiveness level. Distinguish and figure out the main steps to be followed in planning. Acknowledge the planning subsystems. Figure out the different types of plan.
- 7. Planning The process by which an individual or organization decides in advance on some future course of action. The process of determining how the organization can get where it wants to go. Involves selecting from among alternatives future courses of actions for the organization.
- 8. Why do managers plan? Purpose of Planning - Provides direction - Minimizes wastes and redundancy - Sets the standards for controlling
- 9. Nature of Planning Contribution to purpose and objectives Primacy of planning Pervasiveness of planning, and Efficiency of plan
- 11. Importance of Planning To offset uncertainty and change, To focus attention in objectives, To gain economical operation, and To facilitate control.
- 12. Planning Period Short term plans usually involves process that shows results within a year. Long term plans include the overall goals of the company set four or five years in the future.
- 13. Planning Process Beware of Opportunity Establishing Objectives Considering the Planning Premises Determining and Identifying the Alternative Courses Evaluating these Alternative Courses Selecting the Appropriate Course of Action Numbering Plans by Budgeting Putting the Plans into Action
- 16. Dimension of Plans Repetitiveness Time Scope Level
- 18. Types of Planning Mission or purpose Objectives or goals Strategies Policies Procedures Rules Programs Budgets
- 21. Strategic Planning Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals.
- 22. Levels Corporate Level Business Level Market Level
- 24. Process Determining the organization’s mission Assessing the organization and its environment Setting specific objectives Determining strategies to achieve the objectives
- 29. Effective Planning Develop accurate forecast Gain acceptance for the plan Make sure the plan is sound Assign responsibility for planning Be objective Keep the plan flexible Revise your long term plan every year Make sure that the plan fits the situation
- 30. Non-Effective Planning Poor reward structure Waste of time Laziness Fear of failure Overconfidence Prior bad experience Self-interest
- 32. Management by Objectives A comprehensive management system that integrates many key many managerial activities in a systematic manner and that is consciously directed towards the effective and efficient achievements of organization’s and individual objectives.
- 33. Steps Developing overall organizational goals Establishing specific goals Formulating action plans Implementing and maintaining self-control Reviewing progress periodically Appraising performance
- 34. Process
- 35. Benefits Result oriented planning of goals, resources organization. Setting of standards for Control.
- 36. Weaknesses Short term at the expense of long term Danger of inflexibility
- 38. Keys to Successful Planning Linking goals and plans Being determined to achieve goals Developing effective action plans
- 39. Why plans fail? Management fails to operate by plan, Management fails to grasp the overall planning process, There is lack of understanding of the different steps of planning process, Management expects that plans developed will be realized with little effort.