Chapter 4 - Planning

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PLANNING : 

PLANNING DEFINITIONS KOONTZ AND DONNEL” Planning involves selecting enterprise objectives, departmental goals, and programs, and determining the ways of reaching them, Planning, thus, provides a rational approach to pre-selected objectives.” PHILIP KOTLER “ Planning is deciding in the present what to do in the future. It is the process whereby companies reconcile their resources with their objectives and opportunities.” Peter F. Drucker” Planning is the continuous process pf making present entrepreneurial decisions systematically and with the best possible knowledge of their futurity, organizing systematically the efforts needed to carry out these decisions and measuring the results of these decisions against the expectations through organized, systematic feedback.” FAILING TO PLAN IS PLANNING TO FAIL

IMPORTANCE OF PLANNING : 

IMPORTANCE OF PLANNING OBJECTIVE ORIENTED INTELLECTUAL PROCESS ALL PERVASIVE CONTINUOUS PROCESS FLEXIBLE IN NATURE DIRECTED TOWARDS EFFICIENCY MASTER COORDINATOR

FEATURES OF GOOD PLAN BY URWICK : 

FEATURES OF GOOD PLAN BY URWICK WELL ESTABLISHED OBJECTIVES SIMPLE & UNDERSTANDABLE FLEXIBLE TO CHANGE ACCORDING TO CIRCUMSTANCES BALANCED & EQUAL EMPHASIS ON ALL SECTORS OF BUSINESS PROVIDE BETTER ANALYSIS AND CLASSIFICATION OF ACTIONS REASONABLE POSSIBLE TO PERFORM

ADVANATAGES OF PLANNING : 

ADVANATAGES OF PLANNING Acts as a Significant Integrating Force Helps in process of decision-making Helps the organisation to implement Future Programs Keeps the organisation up-to-date and Highly competitive. Economies of large scale operation Budgeting and budgeting control Sense of Involvement & Team Spirit Performance of all functions-coordinating, controlling etc. Achieving objectives through proper control Efficient management and develop individual managers

DISADVANTAGES OF PLANNING : 

DISADVANTAGES OF PLANNING VERY EXPENSIVE & TIME CONSUMING RIGID ORGANSATIONAL STRUCTURE DELAYS PROCESS OD DECISION-MAKING CANNOT ENSURE CERTAININTY OF FUTURE PERFORMANCE PRECISION BASED ON ASSUMPTIONS ONLY APPROXIMATE RESULTS

PRINCIPLES OF PLANNING : 

PRINCIPLES OF PLANNING Contribution to objectives Primacy of planning Pervasiveness of planning Flexibility of planning Periodicity Planning premises (Assumptions) Efficiency of Operations Limiting Factors Revision

Steps in Planning : 

Steps in Planning Defining the Problem Establishing objectives Establishing the planning premises Determining Alternative course of action Evaluation of Alternative course of action Selecting the course of action Formulating derivative plans Timing the sequence of operations Participation and Follow-up

PLANNING PREMISES : 

PLANNING PREMISES Management has to take policy decisions based on certain assumptions and about future happenings. Such assumptions are known as Planning Premises. TYPES OF PREMISES INTERNAL &EXTERNAL PREMISES TANGIBLE & INTANGIBLE PREMISES CONTROLLABLE, SEMI-CONTROLLABLE & UNCONTROLLABLE CONSTANT & VARIABLE PREMISES

PLANNING PROCESS : 

PLANNING PROCESS ANALYSIS OF EXTERNAL ENVIRONMENT ANALYSIS OF INTERNAL ENVIRONMENT DETERMINATION OF MISSION DETERMINATION OF OBJECTIVES FORECASTING DETERMINING ALTERNATIVE COURSE OF ACTION EVALUATING ALTERNATIVE COURSE OF ACTION SELECTING THE BEST ESTABLISHING THE SEQUENCE OF ACTIVITIES FORMULATION OF ACTION PROGRAMMES REVIEWING THE PLANNING PROCESS