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Planning

Topics: Management, Strategy, Planning Pages: 3 (363 words) Published: January 19, 2014
PLANNING
Thinking and looking ahead
Process of establishing objectives and appropriate courses of action before taking action

Why plan?
To be:
a. EFFECTIVE – being able to realize the objectives
- “doing the right thing”

b. EFFICIENT – being able to spend the least amount of resources in realizing the objective
- “doing things right”

TYPES OF PLANS:

1. Strategic Plan
- focused on the entire organization
- top management formulates the objectives
- lower level management formulate the relevant objectives and plans on how to attain them
- it predicts the external business environment

2. Tactical Plan
- middle level managers plan what to do, how to do it and who will do it
- scope is one year or less

3. OPERATING PLAN
- provides the specifics as to how the strategic plan shall be attained

a. Single use plan – applicable to activities that do not repeat

(1) Program – set of activities towards and objective
- major undertaking that may take several years to complete
- large in scope

Ex. Building a new production plant, converting all paper files to digital

(2) Budget – provides funds indicating their sources and their corresponding
expenditures
- anticipated expenses

b. Ongoing plan – used for continuing situations, problems and activities that are similar and
consistent

(1) Policy – guidelines for making decision
- flexible

Ex. Policy on sexual harassment, internet usage, hiring, termination
(2) Procedures – step by step instructions for performing an activity or task

Ex. Procedures in issuing refund, for handling employee grievances

(3) Rule – specific plan for controlling human behaviour at work
- rigid

Ex. No eating rule in areas where the employees are visible to the public

PRINCIPLES IN PLANNING:

1. It must be realistic – goals and objectives must be supported by available...
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