The rational planning model is a model commonly uses for the business evaluations and strategic decision making purposes. Especially in CIMA examination focus rational planning model as a critical subjects for management students. But there are only few points to be remembering for rational planning model. The subject of Enterprise strategy [E3] and enterprise management [E2] are mostly focus on rational planning model. Its containing of
Mission and Objectives
Position Audit
Environmental Analysis
Co-operate appraisal
Strategic option generation
Strategic option evaluation and choice
Strategic implementation
Review and control
From review and control again continues with position audit and the environmental analysis.[its repeat the same process again and again]
Assumptions and role of the planner
1. Structure of the Presentation Introduction Dictionary meaning of ‘Plan’ and ‘Planner’ Qualities of a Planner Roles of the Planner Reporting Structure Summary Conclusion 2. Dictionary meaning of ‘ Plan ‘ and ‘ Planner ‘ (Webster’s Dictionary) Plan means a method devised for making or doing something or achieving an end. (or) A series of steps to be carried out or goals to be accomplished Planner A person who makes plans. 3. Qualities of a Planner Integrity, Credibility and Trust – Ability to work at all levels in the organization. Emotional Quotient should be very high. Ability to do unstructured work Ability to work with teams of people from within the organization and outside the organization. Self confidence balanced by humility . People are often envious of the role the planner and the planner has to manage this. Willingness and a desire to learn new management techniques and implement them in the organization.
The Business plan on Strategic Financial Planning
Financial planning is the task of determining how a business will afford to achieve its strategic goals and objectives. Usually, a company creates a Financial Plan immediately after the vision and behavior have been set. The Financial Plan describes each of the activities, resources, equipment and materials that are needed to achieve these objectives, as well as the timeframes involved. The ...
Innovator Sense of Humour 4. Roles of the Planner Aid to the Chairman / CEO Strategic Planners assist the Chairman / CEO to make confidential strategic decisions . They do special one off research / studies into areas which fall outside the mandate of the divisions. They also act as internal consultants to the leaders of the different divisions in the organization. 5. Roles of the Planner Research Planners provide up to date research to the top management of the organization on the following trends External Environment trends – PEST factors that might affect the strategy / functioning of the organization. Business Trends – Policies and Practices adopted by leading organizations in the industry. Market research – Includes customer surveys and other methods of research to identify customer needs and expectations. Usually outsourced to a market research organization. Competitor Research – Maintain a comprehensive database of competitor strategies and information on competitor key customers and human resource personnel. The Planning team keeps up to date with new methods of doing strategic planning itself. 6. Roles of the Planner Systems Integrator and Coordinator Usually organizations have the following functions interlinked.
Strategic planning Business planning Budgeting Performance management/reward/compensation Reporting Measurement. The Planner works in coordination with the division heads to ensure that the planning and measurement systems work together. The planner also ensures that there is no duplication between the plans made by the various divisions in the organization 7. Roles of the Planner Monitoring of Strategy Works with change specialists to ensure that both the content and the spirit of the strategic plan are being implemented. Any barrier which occurs, the planner helps teams to remove these barriers. This may necessitate a change in structures and systems. Angel’s Advocate and Devil’s Advocate The Planner functions both as an Angel’s advocate and as a devil’s advocate. The Planner has to actively pursue a good idea and make sure it is implemented in the organization. The Planner also has to take the role of a Devil’s Advocate and take a position strongly to advocate implementation of a certain management strategy or practice. 8. Roles of the Planner Training of Management Staff Planners take on the role of formal facilitators to ensure top management is well versed with up to date strategic management tools and thinking.
The Research paper on Corporate Planning And Strategy Course
This research paper would not have been possible without the support of many people. The author wishes to express her gratitude to her Lecturer, Prof. Dr. B. Baidya who was abundantly helpful and offered invaluable assistance, support and guidance. Deepest gratitude also due to the members 2012 December Block Release Class of Corporate Planning and Strategy Course (BSAD), without whose knowledge ...
These could include: Formal Training sessions Guest Speakers to speak on a ‘particular topic’. Writing Newsletters Speaking at conferences and workshops organized by different divisions in the organizations;. Organizing conferences in house Sending key personnel on external training courses. 9. Reporting Structure Ideas or How planning starts in an organization ? Business Needs Goals Strategies Action Steps Goal Champions or Business Owners 10. Reporting Structure Strategies are comprised of Time lines and Requisites Time line : What are the action steps ? Who will be responsible for each ? When will they be accomplished ? Requisites : What is needed to successfully implement the strategy ? 11. Reporting Structure Each goal or strategy action plan should have a proper evaluation plan.
These are suggested to be: a.) Quantifiable performance indicators (numerical quantities that can be measured against time, units or across institutions or standards set in the industry) b.) Key Milestones in the process of implementation whose progress can track progress towards achieving the goal. c.) A summary which will include the quantitative and qualitative indicators of success to give a balanced understanding of the outcomes produced in relation to the outcomes originally sought . 12. Summary Key Decision Making Advisor – Advising the top management on various options available and suggests the feasible option. Trainer – explaining the process changes and provide active direction to unit heads and staff, if necessary. Facilitator – provide assistance in moving through difficult phases of implementation Strategist – actively help set strategy and ensure implementation. Advocate – actively pursue certain ideas beneficial to the organization. Stakeholder – vested interests in results Role of the population
The Business plan on Strategic Plan Planning Statements Organization
... planning, strategy selection is what gives the plan life. Strategies answer the question, "What do we need to do to reach our goals and objectives?" ... in strategic planning. For some organizations, the strategic plan provides zest ... goals. Organizations should have goals on sales, profitability, return on investment, market share, customer satisfaction, quality improvements, and the like. Objectives ...
There is virtually no role designated for the people affected by planning Planning process
The various stages in the process of planning are as follows: 1. Goal setting:
Plans are the means to achieve certain ends or objectives. Therefore, establishment of organizational or overall objectives is the first step in planning. Setting objectives is the most crucial part of planning. The organizational objectives should be set in key areas of operations. They should be verifiable i.e., they should as far as possible be specified in clear and measurable terms. The objectives are set in the light of the opportunities perceived by managers. Establishment of goals is influenced by the values and beliefs of executives, mission of the organization, organizational resources, etc. Objectives provide the guidelines (what to do) for the preparation of strategic and procedural plans. One cannot make plans unless one knows what is to be accomplished. Objectives constitute the mission of an organisation. They set the pattern of future course of action. The objectives must be clear, specific and informative. Major objectives should be broken into departmental, sectional and individual objectives. In order to set realistic objectives, planners must be fully aware of the opportunities and problems that the enterprise is likely to face. 2. Developing the planning premises:
Before plans are prepared, the assumptions and conditions underlying them must be clearly defined these assumptions are called planning premises and they can be identified through accurate forecasting of likely future events. They are forecast data of a factual nature. Assessment of environment helps to reveal opportunities and constraints. Analysis of internal (controllable and external (uncontrollable) forces is essential for sound planning premises are the critical factors which lay down the bounder for planning. They are vital to the success of planning as they supply per tenant facts about future. They need revision with changes in the situation. Contingent plans may be prepared for alternate situations. 3. Reviewing Limitations:
The Essay on Will GM's Strategic Plan Lead To Future Success
1. Which of the four basic strategy types were used by GM? Explain your rationale. GM employed the use of establishing the grand strategy, and formulating strategic plans. In this case, it used the growth strategy as the means of carrying out its restructuring. My reasoning behind this choice is that establishing the grand strategy is the level at which a company makes a “rigorous analysis of the ...
In practice, several constraints or limitations affect the ability of an organization to achieve its objectives. These limitations restrict the smooth operation of plans and they must be anticipated and provided for. The key areas of Imitations are finance,” human resources, materials, power and machinery. The strong and weak points of the enterprise should be correctly assessed. 4. Deciding the planning period:
Once the broad goals, planning premises and limitations are laid down, the next step is to decide the period of planning. The planning period should be long enough to permit the fulfillment of the commitments involved in a decision. This is known as the principle of commitment. The planning period depends on several factors e.g., future that can be reasonably anticipated, time required to receive capital investments, expected future availability of raw materials, lead time in development and commercialization of a new product, etc. 5. Formulation of policies and strategies:
After the goals are defined and planning premises are identified, management can formulate policies and strategies for the accomplishment of desired results. The responsibility for laying down policies and strategies lies usually with management. But, the subordinates should be consulted as they are to implement the policies and strategies. Alternative plans of action should be developed and evaluated carefully so as to select the most appropriate policy for the organization. Imagination, foresight, experience and quantitative techniques are very useful in the development and evaluation of alternatives. Available alternatives should be evaluated in the light of objectives and planning premises. If the evaluation shows that more than one alternative is equally good, the various alternatives may be combined in action. 6. Preparing operating plans:
The Business plan on Human Resource Planning And Organizational Strategy 2
Human resource is about the people in an organization; which is the core of any organization and its strategic plan. When properly aligned, the human resource department contributes to a successful strategy and the financial bottom line of a company. To have full involvement with strategy development, human resource needs to compare what it does now, with what it needs to do to provide value to ...
After the formulation of overall operating plans, the derivative or supporting plans are prepared. Several medium range and short-range plans are required to implement policies and strategies. These plans consist of procedures, programmers, schedules, budgets and rules. Such plans are required for the implementation of basic plans. Operational plans reflect commitments as to methods, time, money, etc. These plans are helpful in the implementation of long range plans. Along with the supporting, plans, the timing and sequence of activities is determined to ensure continuity in operations. 7.Integration of plans:
Different plans must be properly balanced so that they support one another. Review and revision may be necessary before the plan is put into operation. Moreover, the various plans must be communicated and explained to those responsible for putting them into practice. The participation and cooperation of subordinates is necessary for successful implementation of plans. Established plans should be reviewed periodically so as to modify and change them whenever necessary. A system of continuous evaluation and appraisal of plans should be devised to identify any shortcomings or pitfalls of the plans under changing situations.
Advantages
For transformational or radical change
Copes with the uncertain future by providing long term plans Helps integrate and coordinate complex organizations
Disadvantages
Rational planning can be too rigid and bureaucratic e.g. no use for small business Rational planning can stifle innovation e.g. locked into plans No use for dynamic or uncertain environment e.g. plans quickly become out of date
