PLANNING PROCESS : PLANNING PROCESS SUBMITTED TO: SUBMITTED BY:
Ms. Indeep Naini Arora
Navdeep Kaur Slide 2: “He who Fails to plan,plans
to fail….” Planning - The Basic Principle : Planning - The Basic Principle “If you do not know where you are, it is impossible to determine how you can get to where you want to be.”
“If you know where you are and if you know where you want to go, the task is to find the best route to go there.” Planning Defined : Planning Defined Planning is going from known to unknown.
Planning is deciding in advance what to do, how to do it, when to do it and who is to do it. Slide 5: Planning is the process of deciding the objectives or goals of the organization and preparing for how to meet them through suitable strategies The Planning Process….. : The Planning Process….. The planning process can be further subdivided into several activities :
Identification of strategies and objectives
External environmental analysis
Internal environmental analysis
Gap analysis Goal Formulation(Strategic Planning) : Goal Formulation(Strategic Planning) Our focus is on four aspects :
Objectives Slide 8: What can be worse than being blind ?
Having eyes to see, but no
Vision- Its all about Dream.. Vision : Short declaration describing what an organization aspires to be tomorrow.
It describes how the future will look if the organization achieve its mission. Vision Vision : Vision Sony
Our vision is to create products that become persuasive around the world. We will be the first japanese company to go into US market and distribute directly. We will succeed with innovations that US companies have failed to give. Fifty years from now our name will be well known in the world. “Made in Japan” will mean something fine, not something shoddy. Mission : Mission Mission derives from the vision of the organization-what the company is all about.
Mission statement answers-who we are, who are our customers, what do we do and how do we do.
One paragraph, less in length, easy to understand statement. An Example of mission statement…. : An Example of mission statement…. AXIS BANK
“To be the most innovative and trusted provider of financial services in the region and to deliver optimum value to our customers, employees, shareholders and nation.” Slide 13: Reebok
“At reebok we see the world a little differently and throughout our history have made a mark when we have had the courage to challenge convention. Rebook creates products and marketing programs that reflects the brand’s unlimited creative potential.” Goals : Goals These refers to the long term goals.
Open ended statements of what one wants to accomplish with no time criteria for completion.
“we will destroy Yamaha”
“Crush Adidas” Objectives : Objectives Specific short term targets for which measurable results can be obtained.
Intended to achieve within a given period of time.
M-measurable “Reduce customer
A-achievable complaints by 20%
T-time bound Environmental scan : Environmental scan S W O T
SWOT MATRIX INTERNAL ENVIRONMENTAL
SCAN EXTERNAL ENVIRONMENTAL
SCAN STRENGTHS WEEKNESS THREATS OPPORTUNITIES SWOT Analysis : SWOT Analysis Strengths Weakness
Brand name Poor brand name
Market position Low market position
Distribution networks Weak dist.channels
Staff Poor staff coordination
Profits Less profits
Good reputation No name among
among customers customers SWOT Analysis : SWOT Analysis Opportunities Threats
Technological advance Shift in consumer taste
Removal of internal Increase in taxes
trade barriers Decreasing profits
New distribution channels Other brands in market
Changes in govt policies GAP Analysis : GAP Analysis The performance gap is basically the difference between the objectives established in the goal formulation and the results likely to be achieved if the existing strategy is to be continued. GAP ANALYSIS Continue with existing strategy Revise the strategies and craft