PLANNING
source : Google
Planning is the process of
thinking about and organizing the activities required to achieve a desired
goal. Planning involves the creation and maintenance of a given organizational
operation. This thought process is essential to the refinement of objectives
and their integration with other plans. Planning combines forecasting of
developments with preparing scenarios for how to react to those developments.
An important, albeit often ignored, aspect of planning is the relationship it
holds with forecasting. Forecasting can be described as predicting what the
future will look like, whereas planning predicts what the future should look
like.
Planning is also a
management process, concerned with defining goals for a company’s future
direction and determining the missions and resources to achieve those targets.
To meet objectives, managers may develop plans, such as a business plan or a
marketing plan. The purpose may be achievement of certain goals or targets.
Planning revolves largely around identifying the resources available for a
given project and utilizing optimally to achieve best scenario outcomes.
Planning is not just a type
but it comes in many types. Some of them are:
source : Google
1.Strategic planning is an
organization’s process of defining its strategy or direction and making
decisions about allocating its resources to pursue this strategy. To determine
the direction of the organization, it is necessary to understand its current
position and the possible avenues through which it can pursue a particular
course of action. Generally, strategic planning deals with at least one of
three key questions:
- What do we do?
- For whom do we do it?
- How do we excel?
The key components of
strategic planning include an understanding of the firm’s vision, mission,
values, and strategies.
source : Google
2.Tactical planning is short
range planning emphasizing the current operations of various parts of the
organization. Short Range is generally defined as a period of time extending
about one year or less in the future. Managers use tactical planning to outline
what the various parts of the organization must do for the organization to be
successful at some point one year or less into the future. Tactical plans are
usually developed in the areas of production, marketing, personnel, finance and
plant facilities. Because of the time horizon and the nature of the questions
dealt, mishaps potentially occurring during the execution of a tactical plan
should be covered by moderate uncertainties and may lie closer to the control
of management than strategic ones. Those mishaps, in conjunction to their
potential consequences are called “tactical risks”.
source : Google
3.Operational planning is
the process of linking strategic goals and objectives to tactical goals and
objectives. It describes milestones, conditions for success and explains how,
or what portion of, a strategic plan will be put into operation during a given
operational period.
An operational plan
addresses four questions:
- Where are we now?
- Where do we want to be?
- How do we get there?
- How do we measure our progress?
Comments
Post a Comment