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  • What Is Planning

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    Mustaf Mohamed
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    Planning is a primary managerial activity that involves defining goals, establishing strategies, and developing plans. There are two types of planning: informal planning which is unwritten and focuses on specific units in the short-term, and formal planning which is written down and focuses on long-term organization-wide goals. Managers plan to provide direction, reduce uncertainty, minimize waste, and set standards for control. Formal planning is associated with higher profits and returns, while the quality of implementation affects performance more than the extent of planning. Planning must be used for several years before it begins to impact performance. Managers establish goals which provide direction and a means for evaluation.

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    What is Planning

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    What is Planning

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    Planning is a primary managerial activity that involves defining goals, establishing strategies, and developing plans. There are two types of planning: informal planning which is unwritten and focuses on specific units in the short-term, and formal planning which is written down and focuses on long-term organization-wide goals. Managers plan to provide direction, reduce uncertainty, minimize waste, and set standards for control. Formal planning is associated with higher profits and returns, while the quality of implementation affects performance more than the extent of planning. Planning must be used for several years before it begins to impact performance. Managers establish goals which provide direction and a means for evaluation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    15 views1 page

    What Is Planning

    Uploaded by

    Mustaf Mohamed
    Planning is a primary managerial activity that involves defining goals, establishing strategies, and developing plans. There are two types of planning: informal planning which is unwritten and focuses on specific units in the short-term, and formal planning which is written down and focuses on long-term organization-wide goals. Managers plan to provide direction, reduce uncertainty, minimize waste, and set standards for control. Formal planning is associated with higher profits and returns, while the quality of implementation affects performance more than the extent of planning. Planning must be used for several years before it begins to impact performance. Managers establish goals which provide direction and a means for evaluation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    What is planning?

    A primary managerial activity that involves Defining the organization`s goals Establishing an overall strategy for achieving those goals Developing plans for organizational work activities Types of planning Informal: not written down short-term focus ; specific to an organizational unit. Formal : written specific and long-term focus involves shared goals for the organization. Why do managers plan? Provides direction Reduces uncertainty Minimizes waste and redundancy Sets the standards for controlling

    Planning and performance The relationship between planning and performance Formal planning is associated with: Higher profits and returns on assets. Positive financial results. The quality of planning and implementation affects performance more than the extent of planning The external environment can reduce the impact of planning on performance. Formal planning must be used for several years before planning begins to affect performance

    How do managers plan? Goals (also objectives ) Desired outcomes for individuals groups or entire organizations Provide direction and evaluation groups or entire

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