Planning
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Today, many organizations and managers face new challenges everyday. One critical aspect of the challenges that managers lack in is within the planning stage. You have been asked by your manager to conduct a preliminary search of recommending the two most common types of contemporary planning techniques addressed in the textbook. Using the business article collections in the Library and other credible sources, respond to the following questions regarding the two techniques
Compare and contrast these two techniques, with particular emphasis on the implications of these techniques for the manager and the organization.
Which technique better aligns to your workplace? Why?
Explain why the technique that would not work within your workplace.
What steps would you recommend your manager to take to plan in his/her decision making?
Defend your viewpoint with business article collections.
Objective: In completing the Unit 2 IP, students demonstrate mastery of the course outcomes specified below. The relative weight of each outcome is also listed.
Explain the role of a manager. (50%)
Outline the steps in the decision-making process. (50%)
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Solution Summary
The response addresses the queries posted in 918 words with references.
Solution Preview
The response addresses the queries posted in 1378 words with references.
//Before writing about the Contemporary Planning Techniques, it is essential to have knowledge about the main concept of 'Planning'. One should know about the objectives of this process, which further will assist in analyzing the planning techniques in an effective manner.//
Introduction
Planning holds a vital place in the working of any organization. Through this process, the desired future state, as well as, the direction to pursue is defined by the organization through defining of objectives and aspirations for a specified period of time. Planning is done for both long term and short term (Galloway, 2007). Planning involves assessing past performance, current position and future expectations, strengths and weaknesses, environmental conditions and impact of various variables.
//Above is the discussion of main concept and objectives of Planning. As per the instructions, now explanation about the contemporary planning techniques is to be thrown light upon.//
There are many techniques used for planning. Two of them are discussed below: Comparing and Contrasting Management by Objectives Management by objectives is one of the most contemporary, popular and advanced techniques used in the planning process. This technique given by Peter Drucker also helps in motivating and control. In an MBO program, clear defined goals and strategies are formulated at the top most level of management. They are then communicated as guidelines for planning to middle and lower managerial levels (Galloway, 2007). At every level, then the managers set their goals based on corporate goals. This is a collaborative effort of planning which unites all the levels. The goal set by the managers serves as a target mark to evaluate their performance. This kind of goal setting provides autonomy to managers, as well as, involves participation from all levels (Management by Objectives, 2009).
The second technique of contemporary planning is scenario planning, in this technique planner develops various possible scenarios in the future. A scenario is a view of what the future is likely to be. Tradition planning techniques often fail to predict significant change in a firm's external environment, especially when the change is rapid and turbulent and information is limited. Consequently, important opportunities and serious threats may be overlooked and survival of the firm may be at stake. Herman Kahn was ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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