Planning Final.ppt 2

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    Principle of Management andBusiness Ethic

    Group members:

    Uzair Khursheed

    Mohammad Umair

    Syed M. Obaid

    Shahzad Tayyab

    Zeeshan Ahmed

    Faraz Ahmed Farooqi

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    Topic Of Presentation

    Planning

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    Contents:

    3

    Introduction of Planning

    Steps of Planning

    Types of Planning

    Advantages of Planning

    Limitations of Planning

    Conclusion

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    Definitions of Planning:Planning is a process that begins with objectives,

    defines strategies, policies and detailed plans to

    achieve them. (George Steiner)Planning is the iterative process of making present

    entrepreneurial decisions systematically and withbest possible knowledge of there futurity. (Peter

    Drucker)Planning is thinking in advance or before doing

    something

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    He who fails to plan, plans to failThose who dont plan are sure to

    fail.

    Planning bridges a gap from wherewe are to where we want to go, itmakes it possible for things to occur

    that would not otherwise happen.

    Business plan is like a road map tolong-term success.

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    Purpose Of Planning

    Provides directionProvides direction

    Reduces uncertaintyReduces uncertainty

    Minimizes waste and redundancyMinimizes waste and redundancy

    Sets the standards for controllingSets the standards for controlling

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    Steps of Planning:Analyzing environment (SWOT

    Analysis)

    Establishing Objects and Goals

    Seeking necessary information

    Establishing the planning premises

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    Steps of Planning:

    Identifying and developing alternativecourse of action

    Evaluating the alternatives

    Choosing the most appropriatealternative action

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    Types of PlanTypes of Plan

    Breadth Time Frame Specificity Frequency of Use

    Strategic

    Operational

    Long Term

    Short Term

    Directional

    Specific

    Single Use

    Standing

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    Types of PlansStrategic Plans

    o Apply to the entire organization.

    o Establish the organizations overall goals.o Seek to position the organization in terms of its

    environment.

    o Cover extended periods of time.

    Operational Plans

    o Specify the details of how the overall goals areto be achieved.

    o Cover short time period. 10

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    Types of PlansLong-Term Plansy Plans with time frames extending beyond three years

    Short-Term Plansy Plans with time frames on one year or less

    Specific Plansy Plans that are clearly defined and leave no room for

    interpretation

    Directional Plansy Flexible plans that set out general guidelines, provide

    focus, yet allow discretion in implementation 11

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    Difference In Planning

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    Types Of PlansSingle-Use Plan

    A one-time plan specifically designed to meetthe need of a unique situation.

    Standing PlansOngoing plans that provide guidance for

    activities performed repeatedly.

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    Advantages of Planning

    Provide a sense of direction

    Become proactive rather than reactive

    Exert more control over its destiny

    Planning facilitates co-ordination

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    Advantages of Planning

    Planning facilitates management byobjectives (MBO)

    Causes efficient operations

    Planning improves employees moral

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    Advantages of Planning

    Planning provides competitive edge

    Planning facilitates controlling

    Planning helps in achieving economies

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    Limitations Of PlanningInaccurate or Unreliable Information

    Data may be Biased

    Inadequate Information

    Weak Premises

    Assumed Condition Differ fromActual

    Costly Process

    The process of planning is costly

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    Limitations Of Planningigidly and Inflexibility

    Difficult to change

    False Sense of Security

    Managers emotional attachment

    Employees wrong assumption

    Delay in action

    On the Spot Decision Making

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    Limitations Of Planning

    Psychological Opposition

    Current position is Satisfied

    Present more important than Future

    Improper plan

    Lacking of Capital

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    ConclusionPlanning is essential for every

    organization even for any individuals.

    If do not follow the steps properlyplanning might be failed.

    Generally we did two types of planning.

    o Strategic

    o Operational

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    Conclusion

    Proper and relevant planning gives lots of

    advantages to organizations.

    Some times planning failed due tolimitations or some other reasons

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    Thanks forThanks for

    your participation!your participation!