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Planning involves defining goals, strategies, and plans to coordinate work activities. It provides direction, reduces uncertainty, and minimizes waste. Planning establishes goals that are then used to control performance. Formal planning is generally associated with positive financial results, and good planning and implementation lead to high performance. Planning establishes the basis for organizing, leading, and controlling as it involves defining goals and creating plans to achieve those goals. Goals can be financial or strategic, and stated goals may conflict with real goals as shown by organizational actions.
An2 document.powerpoint
- 1. FOUNDATION OF PLANNING WHAT IS PLANNING? PLANNING involves defining the organization’s goals, establishing strategies for achieving those goals, and developing plans to integrate and coordinate work activities. When we use the term planning, we mean formal planning. In formal planning, specific goals covering a specific time period are defined. WHY DO MANAGERS PLAN? First, planning provides direction to managers and non managers alike. When employees know what their organization or work unit is trying to accomplish and what they must contribute to reach goals, they can coordinate their activities, cooperate with each other, and do what it takes to accomplish those goals. Next, planning reduces uncertainty by facing managers to look ahead, anticipate change, consider the impact of change, and develop appropriate responses. In addition, planning minimizes waste and redundancy . when work activities are coordinated around plans, inefficiencies become obvious and can be corrected or eliminated. Finally, planning establishes the goals or standards used in controlling. PLANNING AND PERFORMANCE First, generally speaking, formal planning is associated with positive financial result-higher profits, higher return on assets, and so forth. Second, its seems that doing a good job planning and implementing those plans play bigger part in high performance than does how much planning is done. Next, in those studies where formal planning didn’t lead to high performance, the external environment often was the culprit. GOALS AND PLANS Planning is often called the primary management function because it establishes the basis for all the other things managers do as they organize, lead and control. It involves two important aspects: goals and plans. GOALS(objectives) are desired outcomes or targets. PLANS are documents that outline how goals are going to be met. TYPES OF GOALS It might seem that organization have a single goal. Business want to make a profit and not-for-profit organizations want to meet the needs of some constituent group(s). However, a single goal can’t
- 2. adequately define an organization’s success. And if managers emphasize only one goal, other essential for long-term success are ignored. We can classify most company’s goals as their strategic or financial. Financial, goals are related to the financial performance of the organization, while strategic goals are related to all other areas of an organization’s performance. The goals just described are stated goals-official statements of what an organization says, and what it wants its stakeholders to believe, its goals are. However, stated goals-which can be found in an organization’s charter, annual report, public relations announcements, or in public statements made by managers-are often conflicting and influenced by what various stakeholders think organization should do. If you want to know an organization’s real goals-those goals organization actually pursues-observe what organizational members are doing. Actions define priorities.