INTRODUCTION OF MANAGEMENT PLANNING

INTRODUCTION TO MANAGEMENT PLANNING

source : google images

DEFINITON :

     

    Process of identifying an organization's immediate and long-term objectives, and formulating and monitoring specific strategies to achieve them. It also entails staffing and resource allocation, and is one of the most important responsibilities of a management team.

TYPES OF PLANNING :

soure : google images

   As stated in the diagram, there are many types of organizational plan. But basically, operational plans, tactical plans and strategic plans were the base of management planning. 

1. Strategic Plans : define the framework of the organization’s vision and how the organization intends to make its vision a reality.

• -It is the determination of the long-term objectives of an enterprise, the action plan to be adopted and the resources to be mobilized to achieve these goals.
• -Since it is planning the direction of the company’s progress, it is done by the top management of an organization.
• -It essentially focuses on planning for the coming years to take the organization from where it stands today to where it intends to be.
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2. Tactical Plans : describe the tactics that the managers plan to adopt to achieve the objectives set in the strategic plan.

• -Tactical plans span a short time frame (usually less than 3 years) and are usually developed by middle level managers.
• -It details specific means or action plans to implement the strategic plan by units within each division.
• -Tactical plans entail detailing resource and work allocation among the subunits within each division.

3. Operational Plans : are short-term (less than a year) plans developed to create specific action steps that support the strategic and tactical plans.

• -They are usually developed by the manager to fulfill his or her job responsibilities.
• -They are developed by supervisors, team leaders, and facilitators to support tactical plans.
• -They govern the day-to-day operations of an organization.

  

IMPORTANCE OF PLANNING : 

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    Strategic planning is important to an organization because it provides a sense of direction and outlines measurable goals. Strategic planning is a tool that is useful for guiding day-to-day decisions and also for evaluating progress and changing approaches when moving forward. In order to make the most of strategic planning, your company should give careful thought to the strategic objectives it outlines, and then back up these goals with realistic, thoroughly researched, quantifiable benchmarks for evaluating results.

PLANNING CYCLE :

source : google images