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8/8/2019 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!