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Presenters: Dhara G
PLANNING
Definition
A particular type of decision making that addresses the specific future that managers desire for their organizations.
IMPORTANCE
Provide us direction
OF GOALS IN PLANNING
One knows what really to achieve. Enhance motivation as there is a finite target.
Laying out short term and long term plans become clear.
As goals are measurable and have specific deadlines so individuals and managers can evaluate there progress.
HIERARCHY
OF ORGANIZATION PLANS
MISSION STATEMENT
Broad organizational goal, based on planning premises, which justifies and organization's existence. CREATED BY: founder, board of directors, or top managers
STRATEGIC PLANS
Plans designed to meet an organization's broad goals. CREATED BY: top and middle managers.
OPERATIONAL PLANS
Plans that contain details for carrying out , or implementing ,those strategic plans in day-today activities. CREATED BY: middle and first-line managers
STRATEGIC
VS.
OPERATIONAL PLANS
Time horizons: Strategic plans tend to look ahead several years or even decades. While for operational plans a year is often the relevant time period
Scope: Strategic plans affect a wide range of organizational activities, whereas operational plans have a narrow scope.
Strategic plans have higher no. of relationships involved than operational plans
Degree of detail: Strategic plans are more generic and simplistic. Operational plans involve a relatively finer details than strategic plans
STRATEGY
STRATEGIC
MANAGEMENT APPROACH
1.STRATEGIC PLANNING
GOAL SETTING: first and
foremost process
STRATEGY FORMULATION:
2. STRATEGY IMPLEMENTATION
ADMINISTRATION: The task of achieving pre-determined goals Involves the revision of strategy
STRATEGIC CONTROL:
Giving managers the feedback of there progress. -ve feedback means new cycle of strategic planning.
LEVELS
OF STRATEGY
CORPORATE LEVEL STRATEGY
Strategy formulated by the top management to oversee the interests and operations of multiline corporations. Decisions as to where should the various resources be allocated.
BUSINESS-STRATEGY
Strategy formulated to meet the goals of a particular business; also called line-of-business strategy Decisions relating to the approach and conduct of the business in market
THE
B.C.G.
FIVE-FORCES
CASE STUDY
CONCLUSION