Programmes, thus, lead to a concrete course of inter-related actions for the accomplishment of a purpose. There are seven basic elements of a strategic plan. Question 15 – You work for a large manufacturing plant and you are working on a new project to release a new product line of toothpaste and salt. It represents a programme which is possible to execute with more or less existing resources. It acts as a guide and is essentially in the nature of a decision made by the management authority. Programmes are precise plans of action followed in proper sequence in accordance with the objectives, policies and procedures. All the steps in the process of planning must be linked and co-ordinated with each other. These, in turn, are supported by the specific objectives for the departments. This hierarchy can be built up by coordinating the plans of different departments. Private insurance is an important need. Thus, planning and budgeting are inter-linked. b. eliminating unnecessary motions. Plans should not be made rigid. all of the above: assessments depict progress toward accomplishing the mission assessments inform cc's intent, guidance for design and planning, prioritization, and execution. A. Default protocols to be followed across projects. Which of the following are elements of planning business analysis approach? Prohibited Content 3. Decision-making is required not only in planning, it is also necessary in other areas of management functions such as organising, direction, co-ordination, and control. The nature of the business that the organization is engaged in. The plans at each level of the organisation are made for the attainment of the appropriate objectives in the hierarchy. 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. In fact, most of the company’s achievements can be attributed to careful planning. It must bridge the gap between where we are and where we want to go at the minimum cost. So, planning premises are of two types—external and internal. cannot be an isolated act apart from sales planning and production planning. C. limit the business's flexibility and decision-making ability. It will, thus, add to the quality of planning through the knowledge of additional facts, new visions and revealing situations. The amount of detail depends on the amount of flexibility you want your managers and team to have. The aspects of this changing environment include changes in technology, government policies, the nature of competition, social norms and attitudes etc. With the help of planning, an enterprise can predict future events and make due provision for them. Policies are statements or principles that guide and direct different managers at various levels in making decisions. Whether internal or external, the success of the plans demands that it should be strategy-oriented. Every manager is required to plan first for systematic and orderly performance of his assigned duties. The different departments may formulate different plans and programmes for their integration in the overall planning. Content Filtrations 6. ‘Planning Premises’ are planning assumptions relating to the expected environmental and internal conditions. (ii) Adequate knowledge about the capacity of the force available through observations and experiments and from established standards. Calculating and planning requirements for materials at all levels of the BOM. Through this system of monitoring and control, customer requirements will be met and the product or process variation will be reduced. Different procedures are adopted in different areas of business activities. A rule specifies necessary course of action in a particular situation. 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. Dan McCarthy wrote about management and leadership for The Balance Careers. A good plan must be simple, balanced and flexible, and make utmost use of the existing resources. A control plan is a document describing the critical to quality characteristics, the critical Xs or Ys, of the part or process. 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. The marketing mix includes all of the following except. Policies provide guidelines to thinking and action, but procedures are definite and specific steps to thinking and action. (Select all answers that apply.) It also serves as a very important control device by measuring the performance in relation to the set goals. For example, if the organisational objective is profit earning, planning activity will specify how much profit is to be earned looking into all facilitating and constraining factors. Healthcare organizations have multiple markets or customers. D. the location in which the firm intends to operate. Quality-control systems specify an organizational structure that allows those responsible for quality to check the work being carried out at all levels. 29. Planning decides the future course of action and involves choosing it from alternatives. Planning has no meaning without being related to goals and objectives. The more detail provided the less flexibility exists for those that follow the plan. 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. It allows you to spot and name the important aspects, happenings, and adversaries of your business. All planning is linked up with certain goals and objectives. Planning concentrates attention on the objectives of an enterprise. Risk threshold C. Risk urgency D. Risk tolerance. 18. Though a plan is prepared after reflective thinking, this does not mean that no departure can be made in the course of its operation. These derivative plans are formulated out of the main plan and so they support it. So decision-making has a pervasive influence upon planning and it is a part of the planning process. This will help in selecting the most favourable alternative. Production procedure involves manufacturing and assembling of parts; sales procedure relates to advertising, offering quotations, securing and execution of orders; purchase procedure indicates inviting tenders, selecting quotations, placing orders, storing the goods in go-down and supplying them against requisition to different departments and personnel procedure is the recruitment, selection and placement of workers to different jobs. Documentation reviews. d. Choosing the planning strategy for the BOM. Long-term goals are statements that drill down a level below the vision and describe how you plan to achieve it. B. The project scope planning processes include all of the following EXCEPT: how the business case will be created. 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. before proceeding with the work. A plan is a course of action that shows promise of optimizing return at the minimum expense of inputs. The RBS is contained in the risk management plan. The key elements of a marketing plan are described in the table below. Different plans are inter-dependent and inter-related. There may be separate plans prepared in different levels in the organisation, but all the sub-plans must be united with the general plan so as to make up a comprehensive plan for operation at a time. These methods are known as a. portfolio models. B. include estimates of income and expenses. Creating the BOM hierarchy showing all the levels of the BOM. Precision is the soul of planning. The plans for achieving your short-term goals are your action plans. Strategies thus may be internal and external. After the best alternative is decided upon, the next step is to derive various plans for different departments or sections of the organisation to support the main plan. Content Guidelines 2. Based on the plans at various levels, it can be decided who will do what and at what time. It provides a unifying framework. There may be production procedure, sales procedure, purchase procedure, personnel procedure etc. 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. Most managers can benefit from having a strategic plan. Strategies are the devices formulated and adopted from the competitive standpoint as well as from the point of view of the employees, customers, suppliers and government. The project charter should help the project team and the project sponsor to develop a common understanding of what the project is all about. Focusing on your mission each day should enable you to reach your vision. Planning is the synthesis of various forecasts—short-term or long-term, special or otherwise. Again, planning for purchase of raw materials, employment of labour, etc. Generally, in planning a project, a special task force is also envisaged. The objectives are defined in more concrete, precise and meaningful terms. Forecasting provides a logical basis for anticipating the shape of the future business transactions and their requirements as to man and material. The school and local law enforcement have developed a memorandum of agreement, (MOA), defining the roles and responsibilities of both. Alternative courses of action can be evaluated against the criteria of cost, risks, benefit and organisational facilities. Enterprises start with a general objective. Thus, planning and control are inseparable. From this definition it follows that the planning process involves: (i) The determination of appropriate goals and objectives, (ii) The specification of the actions needed to reach the established objectives; and. a. a specific worksite layout b. structural features c. community response d. emergency systems What are the components of an effective Emergency Action Plan? All of the following statements are true regarding the RBS except for which one? D. include an analysis of the competition. This is why there must be a follow-up system in the planning process itself. 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. As the planning proceeds step by step, it foresees the changes likely to come and accordingly prepares its programme by necessary adjustments and adaptation. 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. It means systematized pre-thinking for determining a course of action to achieve some desired result. defining objectives defining metrics determining the sourcing vendor for the software package identifying obstacle and problems. 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. TOS 7. Planning is not an easy task. External premises include total factors in the environment like social, political, technological, competitors’ plans and actions, government policies, etc. O Strategic alignment. However, without setting the objectives there is nothing to organise, direct or control. Each objective should be as SMART as possible: Specific, Measurable, Achievable, Realistic, and Time-based. 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To non-local customers could be facing a financial situation, giving this business an to.
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