Mtp Planning
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PLANNING Saira Ansari Jagdeep Dahiya
NMIMS-University
Ashish Jain Puneet Vyas
MBA-Capital Markets
13-Sep-2007
Defining Planning The process of setting objectives, or goals, and formulating policies, strategies, and procedures to meet them.
The process of choosing the who, what, how, when, and where of goal attainment.
Planning – Where & How
Features of Planning Planning is • • • •
Futuristic A Mental Exercise Pervasive Continuous Process
Why To Plan • • • •
Better Coordination Focus on Forward Thinking Participatory Work Environment More Effective Control Systems If You fail to plan, you plan to fail.
Benefits of Planning...
Fool Proof Plan 1
3
2
5 4
Costs of Planning Management Time
Delay in Decision Making
Where Should Planning Begin… TOP-DOWN
BOTTOM-UP
Level at which planning is initiated
Top Level
Role of Organizational units
Units act as per the plan
Develop their own goals and plans
Specificity of plan
Begins Broad, becomes specific as moves down
Begins specific, becomes cohesive as moves up
Advantages
Individual closest to product/services/customers
Plans driven by top mgmt who People closest to customers are most knowledgeable provide focused plans
Disadvantages
Top-level mgmt is removed Lower mgmt may not have a from the front line broad understanding
Appropriateness
When orgn success depends When it depends upon ability on quick response to external to respond quickly to changes in operational system. pressures and threats
Planning Process Where We Want to Go? Vision/Goals
Where We Are Now? Assess Present Condition
Did We Made It? Re-Monitoring
How To Know We Made it? Measures Indicators
How Will We Get There? Strategy/Methods
Go There! Actions
Financial Planning Process: An Example
Levels of Planning Strategic Definition
Level
Life
Tactical
Operational
Process by which an Process of translating Process of determining organization makes broad strategic goals the day-to-day activities decisions and takes and plans into that are necessary to actions to enhance its long specific goals related achieve the long term term performance a functional areas goals of the organization Board of Directors, Middle Level, Top Level Executives, Functional Heads Managers within Business units Long-Term
Medium Term
Middle Level to Lower Level Managers
Short-Term
Types of Plans
Standing
Single-Use Individual
Policies Procedures Rules
MBO System Balanced Scorecard
Programs Projects Budgets
Management By Objectives (MBO) Organizational Objectives Reviewed
Employee Objectives Set
MBO for the next Operating Period begins
Progress Monitored
Achievers Rewarded
Performance Evaluated
Strategic Management Process A process that involve managers from all parts of the Organization in the formulation and implementation of strategic goals and strategies.
Business Strategy
Low Cost Strategy
Differentiation Strategy
Functional Strategy
Contingency Planning For Changing Environments • • • • •
Y2K Terrorist Attacks Policy Change Market Change Attrition
Thank You !!
NMIMS-University
Ashish Jain Puneet Vyas
MBA-Capital Markets
13-Sep-2007
Defining Planning The process of setting objectives, or goals, and formulating policies, strategies, and procedures to meet them.
The process of choosing the who, what, how, when, and where of goal attainment.
Planning – Where & How
Features of Planning Planning is • • • •
Futuristic A Mental Exercise Pervasive Continuous Process
Why To Plan • • • •
Better Coordination Focus on Forward Thinking Participatory Work Environment More Effective Control Systems If You fail to plan, you plan to fail.
Benefits of Planning...
Fool Proof Plan 1
3
2
5 4
Costs of Planning Management Time
Delay in Decision Making
Where Should Planning Begin… TOP-DOWN
BOTTOM-UP
Level at which planning is initiated
Top Level
Role of Organizational units
Units act as per the plan
Develop their own goals and plans
Specificity of plan
Begins Broad, becomes specific as moves down
Begins specific, becomes cohesive as moves up
Advantages
Individual closest to product/services/customers
Plans driven by top mgmt who People closest to customers are most knowledgeable provide focused plans
Disadvantages
Top-level mgmt is removed Lower mgmt may not have a from the front line broad understanding
Appropriateness
When orgn success depends When it depends upon ability on quick response to external to respond quickly to changes in operational system. pressures and threats
Planning Process Where We Want to Go? Vision/Goals
Where We Are Now? Assess Present Condition
Did We Made It? Re-Monitoring
How To Know We Made it? Measures Indicators
How Will We Get There? Strategy/Methods
Go There! Actions
Financial Planning Process: An Example
Levels of Planning Strategic Definition
Level
Life
Tactical
Operational
Process by which an Process of translating Process of determining organization makes broad strategic goals the day-to-day activities decisions and takes and plans into that are necessary to actions to enhance its long specific goals related achieve the long term term performance a functional areas goals of the organization Board of Directors, Middle Level, Top Level Executives, Functional Heads Managers within Business units Long-Term
Medium Term
Middle Level to Lower Level Managers
Short-Term
Types of Plans
Standing
Single-Use Individual
Policies Procedures Rules
MBO System Balanced Scorecard
Programs Projects Budgets
Management By Objectives (MBO) Organizational Objectives Reviewed
Employee Objectives Set
MBO for the next Operating Period begins
Progress Monitored
Achievers Rewarded
Performance Evaluated
Strategic Management Process A process that involve managers from all parts of the Organization in the formulation and implementation of strategic goals and strategies.
Business Strategy
Low Cost Strategy
Differentiation Strategy
Functional Strategy
Contingency Planning For Changing Environments • • • • •
Y2K Terrorist Attacks Policy Change Market Change Attrition
Thank You !!
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