...* “Planning is deciding in advance what to do, how to do it, when to do it, and who is to do it.” - Koontz & O’Donnell “Planning is deciding in advance what is to be done.” - Haimann The various steps involved in planning process are as follows: 1. Awareness of opportunities and problems: The first step in planning process is the awareness of business opportunity or the problems to provide for in future. Present and future opportunities must be found out so that planning may be undertaken to take advantage of them. 2. Collecting and analysing information: The next step is to gather adequate information and data relating to the planning to be made. The facts and figures collected will help in framing realistic plans. Further, the information gathered has to be analysed for proper interpretation. 3. Establishment of clear-cut objectives: After collecting and analysing information, the management should lay down in clear-cut terms, the objectives of the enterprise as a whole as well as objectives of every section of the enterprise. 4. Determining planning premises and constraints: Planning is always based on certain assumptions regarding the future which are known as planning premises. Thus it is a forecast of conditions like trends in population, political and economic environment, production costs, advertisement policy, availability of labour, material, power, etc. Further there will be constraints like Government...
Words: 684 - Pages: 3
...Planning Human Resources What steps should an organization take to plan for human resources to ensure it is able to carry out its strategy? The step that an organization should take to plan for human resources to ensure it is able to carry out its strategy is the steps that are going to help the organization as a whole. The first step is forecasting. Forecasting are the attempts to determine the supply of and demand for various types of human resources to predict areas within the organization where there will be labor shortages or surpluses. This step is going to help build the foundation of the organization round and not square. Goal setting and strategic planning is the second step. The purpose of setting specific numerical goals is to focus attention on the problem and provide a basis for measuring the organization’s success in addressing labor shortages and demand (Noe/Hollenbeck/ Gerhart/ Wright, 2011). Setting goals is something that you strive to reach your best, so organizations should set goals to grow. A variety of strategies is available for handling expected shortages and surpluses of labor (Noe/Hollenbeck/ Gerhart/ Wright, 2011). In goal setting and strategic planning, there are many things that you have to think about like downsizing, reducing hours, early-retirement programs, employing temporary and contract workers, outsourcing, overtime and expanded hours. The last step is implementing and evaluating the HR plan. This step is when the organization must hold...
Words: 467 - Pages: 2
...Planning Process Over the past week, the team gained considerable knowledge of the importance of the planning fundamentals for management. In personal endeavors and in business basic planning is more critical than ever before. Planning gives a clear direction of objectives and goals set forth in an organizations business initiatives or one’s personal life for the future. These plans must maintain some flexibility for changes in the business environment or individual circumstances. This reflective summary will touch on strategic management covering mission, strategic vision, and goals outlined in the course material. Mission The mission describes clearly the purpose of the organization. It will describe what type of business the organization conducts, who its customers are, the goods, or services offered and the organizations values. Strategic Vision Unlike, the mission statement that describes current operations, the vision statement should include and clarify the long term goals of an organization. The vision statement should include worthwhile targets that are attainable to the organization working as a team. An effective vision statement should inspire the organization. An example of this is the team charter in class that outlines target dates for the submission of assignment to the team’s facilitator and the require level of participation of each team member. Strategic Goals The creation of strategic goals comes from the mission and vision statements...
Words: 523 - Pages: 3
...The Airport System Planning Process The common individual, even those who travel by aircraft frequently understand the simplest logistics of the aircraft and use common sense to establish that the airport was designed to some extent. However, the majority of travelers fail to understand the strategy involved with the airport system, how it is designed, and the planning or organization that go in to creating such a complex environment. Clearly, safety issues concerning air travel have been heightened during the past decade. While it is clear that major precautions are taken to secure the actual aircraft, prior to takeoff, during flight, and once the landing process has commenced, one often forgets about the safety implications involved in the actual airport. This paper evaluates AC No: 150/5070-7, titled “The Airport System Planning Process.” The aim is to give an overview of the process, including background regarding the purpose of the complex strategy, Within an integrated airport planning system, which is expected to provide guidance for future establishments in the field, there are four key aspects that must be exhibited. First, the system needs identification, where there is a specific reason that the airport was designed using the planning process selected. Second, there must be a system-wide development cost estimate. Such an expensive project, one might assume, does not require an accurate budget. However, it is crucial that one remain within the realm of the...
Words: 1639 - Pages: 7
...Strategy means a plan or a method selected and used to bring about a desired future, such as realization of a goal or solution to a problem. Strategic vision is the using of ideas to direct the activities and actions in order to grow a business and usually is included in the company statements so all manages can share the vision and make decision according with this. The strategy is providing organization, the framework for understanding its place and position on the market and how to move forward in terms of route and purpose. A mission statement describes basically what an organization is, why it happens, and its reason for existence. The mission statement reflects every facet of your business: the range and nature of the products you offer, pricing, quality, service, marketplace position, growth potential, use of technology, and your relationships with your customers, employees, suppliers, competitors and the community. A great business strategy can be summary described as an easy and clear way to understand and communicate the organization vision and mission internally and externally to the customers. IKEA had a good vision “to create a better everyday life for the many people”, using the concern of people for the environment and how to use in the better way both energy and raw materials. An aim is where the business wants to go in the future, its goals and is a statement of purpose (i.e. we want to grow the business in whole Europe). Business objectives are the quantified...
Words: 765 - Pages: 4
...Strategic Management Process November 22, 2010 Strategic Management Process Strategic planning is key to the success of any organization. According to Wheelen and Hunger, strategic management is a compilation of goals that will determine the future of an organization. Strategic planning includes internal and external environmental scanning, strategic or long-range planning, implementation, followed by evaluation, and control (2010). An organization will attempt to follow the four phases of strategic management to ensure success. The four phases are financial planning, forecast-based planning, external-oriented planning, and strategic management. Financial planning allows the managers to commence a serious planning process to create a budget for the next year. The ideas that the management proposes are usually based on information from the firm with little analysis done prior. Input comes from the sales forces but lacks environmental information. The basic financial planning usually halts normal work for a time to create a proposed budget and the time horizon in one year. The next phase is forecast-based planning so that a three to five-year plan will be created. The projects taken into consideration may be longer than a year in length. Managers gather both internal information and environmental data to create a possible trend for the next five years. Although this phase is time-consuming it is required to weed through the political aspects, evaluate proposals, and justify...
Words: 632 - Pages: 3
...Strategic Planning and Nursing Process Your name HCS/482 January 12, 2015 instructor Strategic Planning and Nursing Process Strategic planning and the nursing process have many similarities, however strategic planning has the potential to affect how nurses perform in profound ways. As the integration of technology and informatics, takes hold in healthcare settings nurses can help use their knowledge of the nursing process to develop a strategic plan to best incorporate this emerging technology. The goal of this paper is to compare the nursing process and the strategic planning process, as well as nurses’ role in both processes. Comparison “The nursing process is a scientific method used by nurses to ensure the quality of patient care” (Nursing Process, 2014, para 1). The nursing process helps nurses develop a plan to guide patient care through assessment, diagnosis, planning, implementation, and evaluation. Similarly, strategic planning is a method to design a comprehensive plan to guide an organization’s operations. Strategic planning has many of the same steps as the nursing process; assessment, analysis and identification of potential solutions, course of action, implementation, and evaluation/feedback (Hebda & Czar, 2013). While the nursing process focuses on a single patient’s goals, strategic planning focuses on organizational goals. The nursing process often involves a nurse and a patient, however strategic planning affects a variety of internal...
Words: 782 - Pages: 4
...Week 3 The Strategic planning process Click Link Below To Buy: http://hwcampus.com/shop/week-3-strategic-planning-process/ HCA7022-8 > Strategic Planning Stages > Week 3 A Situational Analysis A situational analysis is the first stage of strategic planning. It typically begins with an analysis of the current and recent situation of the organization. The situational analysis sets the tone and its purpose is to understand past successes and failures, allow those less knowledgeable about the organization to build a solid understanding, help determine what factors are subject to the organization’s control, and how external forces may affect the organization in the future. This stage also examines the organizational direction of the agency. It sets high-level direction, encompassing mission, vision, values, and key overall organizational strategies. Review the resources attached to prepare for this week’s assignment(s). After convincing senior leadership at your hospital that developing a strategic plan is necessary, leaders have asked you to provide more detailed information on how to begin this process. Prepare a PowerPoint presentation for your next meeting with leadership to provide this information. After examining Chapters 3 and 4 in your text, provide at least three (3) reasons why conducting a thorough situational analysis is the first crucial step in developing a strategic plan. Be sure to focus on the health care field and internal and external environments...
Words: 300 - Pages: 2
...Bibliographic Essay Reference: Lushington, N. (1993). Getting It Right: Evaluating Plans in the Library Building Planning Process. Library Administration & Management , pp. 159-163. Summary This article endeavors to show how library users and staffs be involved in the planning sequence. The collaboration between the architect and library staffs through the plan review process, aims to maximize the function of the interiors of the library. The library facility improvement emphasizes on public self-service convenience and improvement of staff productivity. Reaction Planning for the sake of improving a facility or an establishment is indeed a challenging role. It requires a smart objective aligned with practicality as upgrading needs funding and time. In our generation, technology regime is stretching. We eagerly invest in internet connections, device replacement and skill enhancement making the physical upkeep of library last on the list. As a future librarian staff, I know that it is my responsibility to maintain and further develop the place of adventurous learning which is the library. When I read about the article, I had learned that we could have an alliance with the architects since; they have the necessary skill to create the “perfect” design. Of course, it still needs the idea of the library staffs, which listening and cooperation takes place. The Librarian staffs may include the librarian, consultants and assistants. It is interesting how the place...
Words: 716 - Pages: 3
...play role in planning process? Fabio Frezatti a,⁎, Andson B. Aguiar a,b,1, Reinaldo Guerreiro a,2, Maria A. Gouvea a,2 a University of Sao Paulo, School of Economics, Business Administration, and Accounting, Av. Prof. Luciano Gualberto 908, FEA3, Cidade Universitária, São Paulo City, 05508-900, State of São Paulo, Brazil b Fucape Business School, Av. Fernando Ferrari, 1358, Boa Vista, Vitória-ES, 29075-505, Brazil a r t i c l e i n f o a b s t r a c t This study examines the relationship between management accounting and planning profiles in Brazilian companies. The main goal is to understand the consequences of not including a fully structured management accounting scheme in the planning process. The authors conducted a field research among medium and large-sized companies, using a probabilistic sample from a population of 2281 companies. Using analytic hierarchy process (AHP) and statistical cluster analysis, the authors grouped the entities' strategic budget planning processes into five profiles, after which the authors applied statistical tests to assess the five clusters. The study concludes that poor or fully implemented strategic and budget-planning processes relate to the management accounting profiles of the Brazilian organizations studied. © 2009 Published by Elsevier Inc. Article history: Received 1 March 2009 Received in revised form 1 September 2009 Accepted 1 November 2009 Available online xxxx Keywords: Management accounting Strategic planning Budget 1...
Words: 7654 - Pages: 31
...***** ******** MAN-301 June 22nd, 2014 Written Assignment #2 Question #1 "List and discuss the steps in the planning process. Select the one step that you believe is the most important. From your own experience or observation, describe the circumstances where attention to or inattention to this step resulted in success or failure--choose either but not both." (Figure 6.7 - Pg 165) The steps to the planning process are as follows in the exact order as described originally. The first step is "Setting Objectives" and this step allows management to set goals for the work environment and the employees regardless of the goal being short term or long term. Setting objectives purely integrates aspirations for the future to drive the progression of the company and its employees further. The second step is "Analyzing and Evaluating the Environments" which is the process to planning that allows the reality of the resources available within the work environment to become known so that the limitations become known as well. This step is very important and if one was to archive and create some form of database or collective data source on what is readily at hand that will and can be applied to the "plan" which could be physical resources needed for production, actual employee numbers, types of employees and their special skills, infrastructure in place and any aspect that may be possibly become an asset or liability. Simply knowing all surroundings and creating a proper catalog readily...
Words: 1023 - Pages: 5
...changed quite drastically. There are now 20 Financial Planning Companies and with about 281 individual licensed as Financial Adviser as Financial Adviser Representative (FAR) as approved by Bank Negara Malaysia (BNM) and more licensed as Financial Planner as Capital Market Services Representative License (CMSRL) as approved by Securities Commissions Malaysia. There is presumably that money-related arranging administrations would turn out to be progressively critical as budgetary and capital markets become greater and turned out to be further developed and advanced. The financial planning process is to analyze the investment and financing choices open to the firm, projecting the future consequences of current...
Words: 842 - Pages: 4
...Financial planning Process • Step 1: Determine Your Current Financial Situation • In this first step of the financial planning process, you will determine your current financial situation with regard to income, savings, living expenses, and debts. Preparing a list of current asset and debt balances and amounts spent for various items gives you a foundation for financial planning activities. • Step 2: Develop Financial Goals • You should periodically analyze your financial values and goals. This involves identifying how you feel about money and why you feel that way. The purpose of this analysis is to differentiate your needs from your wants. • Specific financial goals are vital to financial planning. Others can suggest financial goals for you; however, you must decide which goals to pursue. Your financial goals can range from spending all of your current income to developing an extensive savings and investment program for your future financial security. • Step 3: Identify Alternative Courses of Action • Developing alternatives is crucial for making good decisions. Although many factors will influence the available alternatives, possible courses of action usually fall into these categories: • Continue the same course of action. • Expand the current situation. • Change the current situation. • Take a new course of action. • Not all of these categories will apply to every decision situation; however, they do represent possible courses...
Words: 681 - Pages: 3
...The Strategic Planning Process In the 1970's, many large firms adopted a formalized top-down strategic planning model. Under this model, strategic planning became a deliberate process in which top executives periodically would formulate the firm's strategy, then communicate it down the organization for implementation. The following is a flowchart model of this process: The Strategic Planning Process Mission | V Objectives | V Situation Analysis | V Strategy Formulation | V Implementation | V Control This process is most applicable to strategic management at the business unit level of the organization. For large corporations, strategy at the corporate level is more concerned with managing a portfolio of businesses. For example, corporate level strategy involves decisions about which business units to grow, resource allocation among the business units, taking advantage of synergies among the business units, and mergers and acquisitions. In the process outlined here, "company" or "firm" will be used to denote a single-business firm or a single business unit of a diversified firm. Mission A company's mission is its reason for being. The mission often is expressed in the form of a mission statement, which conveys a sense of purpose to employees and projects a company image to customers. In the strategy formulation process, the mission statement sets the mood of where the company should go. Objectives Objectives are concrete goals that the organization seeks...
Words: 995 - Pages: 4
...Plan-08s The HR Planning Process I. HR Forecasting: Meaning II. Forecasting Activity Categories III. HR Forecasting Time Horizons IV. Determining Net HR Requirements I. HR Forecasting: Meaning HR forecasting constitutes the heart of the HR planning process. It can be defined as ascertaining the net requirement for personnel by determining the demand for and supply of human resources now and in the future. After determining the demand for and supply of workers, the organization's HR staff develop specific programs to reconcile the differences between the requirement for labour in various employment categories and its availability, both internally and in the organization's environment. Programs in such areas as training and development, career planning, recruitment and selection, managerial appraisal, and so on are all stimulated by means of the HR forecasting process. II. Forecasting Activity Categories Forecasting activity can be subdivided into three categories: • transaction-based forecasting, • event-based forecasting, and • process-based forecasting. # Transaction-based forecasting analyses focus on tracking internal change instituted by the organization's managers. # Event-based forecasting is concerned with change in the external environment. # Process-based forecasting is not focused on a specific internal organizational event but on the flow or sequencing of several work activities (e.g., the warehousing shipping process). All three...
Words: 2305 - Pages: 10
