Planning Material, JNTUK

Topics: Management, Decision theory, Decision making Pages: 15 (4829 words) Published: October 31, 2013
Planning: Nature and principles of planning, Steps in planning, types of planning, Levels of planning – The Planning Process-MBO. Decision making-role-significance – decision making process-decision tree analysis. Co-ordination-principles. --------------------------------------------------------------------------------------------------------------------- INTRODUCTION:

Planning in organizations and public policy is both the organizational process of creating and maintaining a plan Psychological process of thinking about the activities required to create a desired goal on some scale. Forecasting can be described as predicting what the future will look like, whereas planning predicts what the future should look like. The concept of planning is to identify what the organization wants to do by using the four questions which are "where are we today in terms of our business or strategy planning? Where are we going? Where do we want to go? How are we going to get there? The term is also used for describing the formal procedures used in such an endeavor, such as the creation of documents, diagrams, or meetings to discuss the important issues to be addressed, the objectives to be met, and the strategy to be followed. Beyond this, planning has a different meaning depending on the political or economic context in which it is used. Two attitudes to planning need to be held in tension: on the one hand we need to be prepared for what may lie ahead, which may mean contingencies and flexible processes. On the other hand, our future is shaped by consequences of our own planning and actions. Planning is a process for accomplishing purposes. It is a blue print of business growth and a road map of development. It helps in deciding objectives both in quantitative and qualitative terms. It is setting of goals on the basis of objectives and keeping in the resources. The objectives are general parts of the planning process. They are the end-results towards which all business activities are directed. They are needed in every aspect where performance and result directly and vitally affect the survival and success of the firm. In other words, the objective of the firm justifies its existence. For managerial purposes, it is useful to think of objectives as the results we want to achieve. Objective covers firm's long-range plans specific departmental goals and short-term individual assignment also. Planning is not done off hand. It is prepared after careful and extensive research. For a comprehensive business plan, management has to: Clearly define the target/goal in writing.

It should be set by a person having authority.
The goal should be realistic.
It should be specific.
Acceptability Easily measurable.
Identify all the main issues which need to be addressed.
Review past performance.
Decide budgetary requirement.
Focus on matters of strategic importance.
A plan should be a realistic view of the expectations. Depending upon the activities, a plan can be long range,
intermediate range or
Short range.
It is the framework within which it must operate. For management seeking external support, the plan is the most important document and key to growth. Preparation of a comprehensive plan will not guarantee success, but lack of a sound plan will almost certainly ensure failure.

Planning can be summarized in 3 easy steps:
1. Choosing a destination,
2. Evaluating alternative routes, and
3. Deciding the specific course of your plan
Purpose of a plan:
Just as no two organizations are alike, so also their plans. It is therefore important to prepare a plan keeping in view the necessities of the enterprise. A plan is an important aspect of business. It serves the following three critical functions: Helps management to clarify, focus, and research their businesses or project's development and prospects. Provides a considered and logical...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Material Requirement Planning (Mrp)
  • Essay on Material Requirements Planning (Mrp)
  • Material Resource Planning Essay
  • How Does the Material Requirement Planning Work in Oracle System? Essay
  • Enterprise Resource Planning Essay
  • Planning and Controlling the Supply Chain Essay
  • Manufacturing Resources Planning Essay

Become a StudyMode Member

Sign Up - It's Free
Musik Seni | Hunter Killer HD 2018 | Cillian Murphy