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Strategic Management - Strategy Implementation

Planning – defined - Planning And Resources Allocation

   Posted On :  26.06.2018 11:20 pm

Planning is a way of organizational life. Planning is futuristic, decision oriented and goal driven.

Planning – defined
 
Planning is a way of organizational life. Planning is futuristic, decision oriented and goal driven. It is the first function of management and is the foundation for other functions like organizing and controlling. Here are some definitions on planning
 
“Planning bridges the gap from where we are to where we want to go. It makes it possible for things to occur that would not otherwise happen”.
 
“Planning involves selecting missions and objectives and achieve them; it requires decision making.”
 
BHEL used Delphi technique to explore future direction of power development. Firstly, it canvassed an open ended questionnaire to the engineers in several plants to give ideas for technological breakthrough for 30 to 40 years. In the second round these were summarized and asked to be prioritized. In the third round the estimated timings and rationale for forecast was asked. This helped BHEL not only to get 19 different forms of energy sources but also provided “refined guest mates”. The results were helpful in corporate planning and for formulating R & D projects. 
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