@ PLANNING AS A MANAGEMENT ®DEFINITION o looking ahead and preparing the organization for the future course of actions o Planning involves the setting of objectives (what to do), formulation of a strategy (how to do) and implementation of strategy (when, whom) to achieve the set objectives. o foresee, examining the future, deciding what needs to be achieved and developing a plan of action.IMPORTANT ELEMENTS © Mission — purpose of organizations' existence © Objectives — quantifiable statement of intent © Strategies — Broad based plan of action o Tactic — means by which strategies are implemented o Policies — general guidelines for decisions and actions @ |IMPORTANCE oPlanning Provides Direction o Provides a sense of purpose o Provides a basis for control oMotivation @CONT... o Economic importance/ maximise resource utilization /Planning Reduces Overlapping and Wasteful Activities oForesee future problems - Planning Reduces Risks of Uncertainty oPlanning Promotes Innovative IdeasPROCESS o Opportunity analysis o Setting objectives o Establishing planning premise oldentifying Strategic alternatives o Evaluation of alternatives oSupport plan and budget oImplementation o Monitoring and evaluationLIMITATIONS o Human inability o Uncertainty o Lack of data o Rigidity o Resources availabilityPRINCIPLES o Based on clearly defined roles oTake inconsideration the existing organisation oShould provide a basis for controls oTake note of factors in the environment that could affect the plans success oSimple to implement oBe flexible to necessitate change e@TYPES © Strategic © Tactical © Operational © Contingency o Short term o Intermediate o Long term