PLANNING

Presented by:Anil NarwareNilesh UchchasareRajkumarRajkumar TomarSachin Gupta

“ To make you known about the Fundamentals and Concepts & Process of Planning and Improve

ourselves by taking valuable feedbacks from you.”

Objective

Contents

• Introduction of Planning• Purpose of Planning• Nature of Planning• Planning Process• Conclusion

Introduction

• “Planning is bringing the future into the

present so that we can do something about it now.”

• Planning is the process of bridging the gap between where we are and where we want to be in the future.

• Planning is “looking ahead, relating today’s events with tomorrow’s possibilities.”

Definitions• Planning is the process of determination of organization's

objectives & selecting the courses of action i.e. Plans of attaining them.

• Planning may be defined as the process of seeking answers to some of the following particular questions-

a. What is to be done?

b. Why it is to be done?

c. How it is to be done?

d. By whom it is to be done?

e. When it is to be done?

f. Where it is to be done?

g. What resources are required for doing it?

Cont…

• Planning as per modern management thinker like F.W. Taylor, Henri Fayol & Mary Parker Follett, all regarded planning as the process in the management. General view is that planning logically precedes the execution of all other managerial functions.

• “Planning is a continuous process of making present entrepreneurial decisions(risk-taking) systematically and with best possible knowledge of their futurity, organizing systematically the effort needed to carry out these decisions & measuring the results of those decisions against the expectations through an organized systematic feedback.”

-Peter F Drucker. • According to Haimann, “Planning is the function that

determines in advance what should be done.”

Purpose of Planning• Provides direction: Planning gives a sense of direction and ensures that efforts are being put to useful purpose instead of being wasted. • Facilitates decision making: A process of selecting the best course of action out of the available alternatives.

• Establishes standards for controlling: Planning also facilitate control because without planning there will be nothing to control.• Saves cost: The purpose of planning is also to minimize the cost of performance and eliminate unproductive efforts.

Cont…

• Reduces the risk of uncertainty: By forecasting the future events, trends & risks.

• Reducing Overlapping & Wasteful activities: Helps people in concentrating their efforts on the most important jobs rather than wasting time on the lesser important work.

• Improves efficiency: Reward as a source of motivation, induces people to work better. • Encourages innovation & creativity: Enables individual participation & welcome more ideas about company and its environment.

Nature of Planning

• Goal-oriented:

Begins with some objectives that an org. wishes to achieve.• Primary/Basic function:

Sets the stage for execution of all other managerial functions.

• Pervasive:

It is applied in each & every department irrespective of levels

or area of operations. • Intellectual/Rational process:

It requires managers to think intelligently & rationally before

doing.

Cont…• Decision making:

A process of evaluating events of future decisions & selecting the

best one out of the available alternatives.

• Futuristic:

Planning is future oriented and all about anticipation of future

events, threats & opportunities etc.

Demand forecasting

Promotion Planning

Item planningMerchandise planning

Assortment planning

Cont…• Integrated process:

Plans made at diff. levels are interrelated & interdependent.• Continuous process:

A continuous and never ending process. It doesn’t end with the

achievement of a particular objective.

Continuous process

Plan

Implement

Review

Improve

Planning Process

Define objective Estb.of planning premises

List alternative ways of reaching

objective

Evaluation of all alternatives

Selection of best alternative

Formulation of supportive plan

implementation Follow up review

Cont…• Define Objectives:

-Exactly what to do.

• Establishment of Planning Premises:

-Political parties meet/conferences.

• List alternative ways of reaching objectives:

-Putting in good/mad idea.

• Evaluation of all alternatives: -What can be done & what can’t.

Cont…• Selection of the best alternative:

-cost effective, maintaining quality.• Formulation of supportive plans:

-how to make the chosen plan better by

supportive plans.

• Implementation:

-Execute.• Review:

-Feedback.

Conclusion

• Planning is one of the most essential parts of any work done & it is of no use until it is implemented…

THANK YOU!

Questions?