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Planning Process Stages

Planning Process Stages

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Published by: roian_mc on Feb 18, 2011
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10/30/2012

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Planning Process StagesPlanning Process Stages
Organizational mission
:
It isdefined in the missionstatement which is a broad declaration of thefirms overriding purpose.
T
he mission statement identifies product, customersand how the firm differs from competitors.
ormulating strategy:
managers analyze currentsituation and develop strategies needed toachieve the mission.
mplementing strategy 
:
 managers mustdecidehow to allocate resources between groups toensure the strategy is achieved.
 
Planning LevelsPlanning Levels
orporate-level:
T
hese aredecisions made by topmanagers.
It considers which businesses or markets to be in.
It provides a framework for all other planning.
B
usiness-level:
details the divisional long-termgoals and structure.
It identifies how this business meets corporate goals.
It shows how the business will compete in the market.
unctional-level:
T
hey areactions taken bymanagers in departments of manufacturing,marketing, etc.
T
hese plans state exactly how business-levelstrategies are accomplished.
 
T
ypes of Plans
:
 
T
ypes of Plans
:
 
They can be categorized into two:
a. By their Time frameb. By their scope.
By their time frame:
Time horizon:
refers to how far in the future the plan applies.
L
ong-term
plans are usually 5 years or more.
ntermediate-term
plans are 1 to 5 years.
Short -term plans are usually 1 year or less
By their scope
.
Strategic Plans
Tactical plans
Operational plans

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