Mention may be made here of varied operating orders and instructions which are outside of planning, but are subject to decision­ making. It anticipates future events and sets the course of action to control these events to one’s advantage. B Explanation: B) The planning phase includes analyzing the situation, gathering information, … In planning, the manager evaluates the alternatives on the basis of efficiency. Planning is a major and primary function of management. In this process a hierarchy of objectives is created. So, necessary help is to be taken from experts. Work Breakdown Structure. Differences between or among stakeholders should be resolved in Risk attitude consist of all the following elements except for which one? For ensuring that the selected plans are proceeding with the right lines, it is of paramount importance to devise a system of continuous evaluation and appraisal of the plan. Through this system of monitoring and control, customer requirements will be met and the product or process variation will be reduced. It must bridge the gap between where we are and where we want to go at the minimum cost. A. Thus, decision­-making and planning have intimate relation with each other. Some examples of long-term goals could be for a business to strengthen its hold on the local market, increasing profits, or expanding its operations and sales. External premises include total factors in the environment like social, political, technological, competitors’ plans and actions, government policies, etc. Well-considered overall plans harmonies inter-departmental activities. Planning involves selection of suitable course of action from several alternatives. This is needed for improvement in the quality of planning. In the absence of a plan, work still gets done on a day-to-day basis but often lacks a sense of purpose and priority. It defines the boundaries within which the business should operate. Planning is directed towards efficiency. All taxes, except payroll, paid to the appropriate government institutions. Read this article to learn about Planning in an Organisation. In thinking of objectives, alternative courses of action and, above all, in making decision for choosing certain alternatives, the planner goes through an intellectual process. Default protocols to be followed across projects. How far into the future a manager can see and with how much clarity he will depend on his intellectual calibre, are chalked out through planning process. d. All the above are basic elements Ans: d Difficulty: Moderate Feedback: Project Planning Short Answer 82. Report a Violation. Planning has no meaning without being related to goals and objectives. It is an immense need for the managers of an enterprise to fix up their minds as to what they want to accomplish and then plan the use of time, resources, and efforts towards the achievement of their objectives. There may be several departmental budgets which are again integrated into the master budget. Question 4 All of the following elements are part of an organization’s vision EXCEPT _____. However, to plan any kind of work, the following facts demand utmost attention: (i) The nature, quality and quantity of work to be done, the best way of doing it, the time available for its accomplishment, how to do it, when it is to be done and who are to do it. Harley-Davidson's vision statement focuses on keeping its brand internationally known and valued, using the combined power of its stakeholders and employees to drive value and innovation: While a vision describes how you view your business to your customers and stakeholders, a mission statement describes what you do currently. If another competitor is trying to expand its customer base, it is a threat as well. It often describes what you do, for who, and how. Product. Disclaimer 9. For preparation of such a plan, a definite process involving the following steps has to be followed: The manager must first identify the opportunity that calls for planning and action. It states the objectives of the organization in the context of given resources; provides for proper utilisation of resources to the best advantage, gives necessary competitive strength for continuous growth and steady progress by foreseeing what the competitors are likely to do and evolving its strategies accordingly. It represents a programme which is possible to execute with more or less existing resources. Any mistake or error in planning is sure to upset other functions of management and, thus, precision is of utmost importance in every kind of planning. After you make your yearly objectives, you might break each one down further into short-term goals, which define the actions and objectives for the next three months to get you to your yearly goals. Want to Understand the Basic Job Description and Duties of a Manager? There may be some confusion between policies and procedures. C. All of the following statements are true regarding the RBS except for which one? Strategies thus may be internal and external. To keep the enterprise as a going concern without any break, it is essential that planning must be a continuous process. For example, production planning depends upon sales planning—and vice versa. But these different policies are co-ordinated and integrated in such a way that they ensure easy realisation of the ultimate objectives of business. This enables the businessman to concentrate upon those matters which are actually relevant and vital to business success. Planning leads to achieve a coordinated structure of operations. Do You Know Your Leadership Values and Practice Ethically? A plan without a vision is just drudgery. Private insurance is an important need. Core values describe your beliefs and behaviors. Precision is the soul of planning. Strategic planning is essential where there is competition. In choosing from alternatives, the best alternative will be that which contributes most efficiently and effectively to the accomplishment of a desired goal. Fire Up Your Strategic Framework for Your Organization's Success, You Can't Be a Real Leader Who People Want to Follow Without Vision. It must also achieve better results with the minimum of unexpected happenings. It must be based on clearly defined objectives. The enterprise must be ready to exhaust the available resources for the achievement of a plan. But, decision-making has a wider connotation than planning. before proceeding with the work. Moreover, there is no certainty about the outcome of any alternative course because it is related with future which is not certain. The aspects of this changing environment include changes in technology, government policies, the nature of competition, social norms and attitudes etc. It will, thus, add to the quality of planning through the knowledge of additional facts, new visions and revealing situations. Truly speaking, planning as a whole with its component parts is the outcome of decision-making. The process of developing a plan helps the manager (and the team) step back and examine where they are, where they want to go, and how they are most likely to get there. It is prepared in the light of what the competitors are intending to do. 29. Elements of Planning: Planning as a managerial process consists of the following elements or components: 1. A local competitor with ties to non-local customers could be facing a financial situation, giving this business an opportunity. A mission statement could broaden your choices, and/or narrow them. b. The more detail provided the less flexibility exists for those that follow the plan. Business forecasting refers to analysing the statistical data and other economic, political and market information for the purpose of reducing the risks involved in making business decisions and long range plans. Note that these marketing plan elements correspond to a sample marketing plan template provided for use in this course. A business's strength could be its ability to attract local customers, while its weakness might be an inability to break into a non-local consumer base. So a single step in a programme is set up as a project. It has a simple mission statement: A vision and mission can also be combined in the same statement. But all plans must contribute in a positive way towards the achievement of the enterprise objectives. Plans should not be made rigid. The nature of the business that the organization is engaged in. The philosophy and values of the organization. Definition The problem statement should not pose a solution, accounts for current circumstances, and does not predict what future actions may occur. Planning requires scientific thinking and it should spell out in clear terms the definition of the purpose, analyse the problem and make a careful and diligent search for all the facts bearing upon it. Alternative courses of action can be evaluated against the criteria of cost, risks, benefit and organisational facilities. Planning prevents wastage of resources by choosing the best course of action from many alternatives. The Emergency Action Plan takes into account each of the following EXCEPT _____. Thus, planning and control are inseparable. Briefly discuss project management and what it involves. A plan involves varied factors of different importance. Programmes must be closely integrated with the objectives. Though a plan is prepared after reflective thinking, this does not mean that no departure can be made in the course of its operation. Elements of the objective matrix in the development of strategies include ____. and assigning definite duties to each part. So, the first plan must follow the second plan and the second plan the third and so on in never-ending series in quick succession. As a result of such attention, it becomes possible for the planners to determine the policies, procedures, programmes and the rules for an orderly advance towards the ultimate goals desired to be achieved. This decision signifies that a definite action must be taken in respect of a specific situation. A plan should be made efficient to attain the objectives of the enterprise at the minimum cost and least effort. What's the Difference Between Vision, Strategy and Tactic? TOS 7. Different procedures are adopted in different areas of business activities. A project is a single-use plan which is a part of a general programme. Content Filtrations 6. It describes risk categories, which are a systematic way to identify risks and provide a foundation for understanding for everyone involved on the project. Since planning is concerned with the identification of alternatives and selection of the most favourable alternative, it may rightly be described as “the most basic tool of management functions.” Thus planning is a process of deciding the business targets and charting out a rational path of attaining those targets. Planning is basically related with this aspect. RedHat has been a provider of Linux operating systems for over 25 years. They set forth overall boundaries within which the decision-makers are expected to operate while making decisions. It is undertaken at all segments and levels of the organisation—from the general manager to the foreman. All of the following statements concerning project stakeholders are true except A. The language of the work schedule or programme in the planning should be simple so that each and every part of it may easily be understood by the employees at different levels, specially at the lower level. Sometimes evaluation shows that more than one alternative are equally good. Answer Save. In an organisation, there can be various derivative plans like planning for buying raw materials and equipment, developing new product, recruiting and training the personnel, etc. All of the following are part of the planning function EXCEPT: a. Analyzing a situation. It is within the planning function that goals are determined, decision-making takes place, forecasts are made and strategies are initiated. The amount of detail depends on the amount of flexibility you want your managers and team to have. So, planning premises are of two types—external and internal. The best strategy of planning from the competitive standpoint is to be fully informed somehow about the planning ‘secrets’ of the competitors and to prepare its own plan accordingly. Your team’s internal work style and communication preferences. What Daily Leadership Behaviors Inspire Employee Motivation? Planning is the key to success of an organisation. The manner in which each work has to be done is indicated by the procedures laid down. Thus, planning has assumed great importance in all types of organisation—business or non-business, private or public sector, small or large. It aims at smooth flow of work. 1910.38(c)Minimum elements of an emergency action plan. It occupies first place and precedes all other functions of management which are designed to attain the goals set under planning. The Joint Fires Element can be overwhelmed and the lethal targeting and fires function can be diluted if given staff responsibility for planning and integrating all nonlethal actions (e.g., reconstruction, engagement, reconciliation, etc. Important Strategic Planning Skills for Workplace Success, Here Are Some Keys to Make Strategic Planning Implementation Work, How to Implement a Long-Term Remote Work Plan, Understand Team Culture and the Role of Clear Expectations in Success, Use These Tips to Build an Organization Based on Values. All of the following elements should be included in a project scope statement EXCEPT. c. hiring only … It is part of the job that needs to be done in connection with the general programme. A good mission statement should incorporate all of the following elements EXCEPT A. the customers the firm will serve. Thus, various departments work in accordance with the overall plan, and co­ordination is achieved. Planning pervades all managerial activities. Programmes are precise plans of action followed in proper sequence in accordance with the objectives, policies and procedures. Planning is said to be the most basic and primary function of management. Long-term goals are the milestones a company sets to guide operations toward their far-reaching objectives. The firm’s internal environment—such as its financial resources, technological resources, and the capabilities of its personnel and their performance—has to be examined. A plan is essentially today’s design for tomorrow’s action and an outline of the steps to be taken in future. Planning is essentially a process of deciding in advance what is to be done, when and where it is to be done, and how it is to be done, and by whom. The project charter should help the project team and the project sponsor to develop a common understanding of what the project is all about. No organisation can operate properly without planning. Preliminary criteria can be defined in several ways— minimum investment required, matching with the present business of the organisation, control by the government, etc. A good plan must be simple, balanced and flexible, and make utmost use of the existing resources. Policies act as guidelines for taking administrative decisions. ... A mission statement should reflect all of the following, EXCEPT: a. The RBS is contained in the risk management plan. In fact, most of the company’s achievements can be attributed to careful planning. All these steps in planning lead automatically to economy. It’s been said that “A vision without a plan is just a dream. Objectives: The important task of planning is to determine the objectives of the enterprise. its market share Correct! Long-term goals are statements that drill down a level below the vision and describe how you plan to achieve it. By this we mean to say that the application of decision-making is extended beyond the horizon of planning and, in any business, almost every position is a decisional centre. So, uniformity must be there in all levels of planning to match the general plan. Objectives are the goals towards which all managerial activities are aimed at. This involves collection of facts and figures necessary for planning the future course of the enterprise. Policies should be consistent and must not be changed frequently. O Strategic alignment. These methods are known as a. portfolio models. It requires a mental disposition of thinking before’ acting in the light of facts rather than guess. This, no doubt, eliminates or reduces the possibility or jumping into uncertainties. Core values describe your beliefs and behaviors. Planning has to find out several alternatives, estimate the feasibility and profitability of the different alternatives, and to choose the best one out of them. Elements of Control Plan. This gives the planning exact, definite, and accurate meaning in its scope and content. ... (WBS) is a framework that will be used as a basis for further planning activities including all the following EXCEPT: The marketing mix includes all of the following except. Financial Planning: it’s Meaning, Importance and Elements – Discussed! The plans for achieving your short-term goals are your action plans. Compassionate Eye Foundation/Hiep Vu/Getty Images. For example, the policy may be the recruitment of personnel from all parts of the country; but procedures may be to advertise and invite applications, to take interviews and offer appointment to the selected personnel. A major plan is prepared and it is supported by many derivative plans. He has spoken, written, and taught on management for more than 20 years. Again, planning for purchase of raw materials, employment of labour, etc. Internal factors include the organisation’s policies, resources of various types, and the ability of the organisation to withstand the environmental pressure. Innovation is a necessity for its sustaining growth in this dynamic world. For example, if an organisation has set its objective to grow further, it can be achieved in several ways like expanding the field of business or product line, joining with other organisations, or taking over another organisation, and so on. The project scope planning processes include all of the following EXCEPT: how the business case will be created. Thus, a rule may be incorporated in respect of purchase procedure that all purchases must be made after inviting tenders. The key elements of the benefits management plan are all of the following EXCEPT Benefits owner. 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